Further to our early January report, Lulu.com has filed the preliminary prospectus for their planned April IPO in Canada, with Genuity Capital Markets and CIBC as lead underwriters. According to the filing, 2009 sales were $31.6 million, up only 4 percent over the prior year. The company says they lost $1.9 million last year (and $13.8 million the year before), though they say that become slightly profitable by the fourth quarter. Seeking to raise approximately $50 million, $15 million of the proceeds would pay back a loan from company founder Bob Young–who would still retain majority control of the shares […]
Self-publishing
Bookselling: Now Official, Elliott Bay Is Relocating; Author Solutions Partners with Espresso
Seattle’s Elliott Bay Book Co. has now confirmed that they will leave their 36-year-old location in Pioneer Square and move to the city’s Capitol Hill neighborhood “as early as March” of next year. Owner Peter Aaron tells the Seattle Times, “Here are the factors I’m looking at: parking, population, daytime and nighttime vitality and foot traffic, the absence of stadiums and conflicts with parking and crowding,” he said. “It’s the attractiveness and safety and vibrancy of the location.” Aaron says “our financing is in place going forward” and “is thrilled about 85 parking spaces for the new location that will […]
Harlequin Drops Brand from Self-Publishing Line, As Criticism Continues
Harlequin has continued to suffer criticism on multiple fronts on their new self-publishing program, and while they have not altered the offering itself, they are removing the name Harlequin from the line. CEO Donna Hayes said in a statement replying to the Romance Writers of America’s declaration that the publisher would no longer be eligible for certain resources at the organizations conference: “We are changing the name of the self-publishing company from Harlequin Horizons to a designation that will not refer to Harlequin in any way. We will initiate this process immediately. We hope this allays the fears many of […]
Harlequin Will and Won't Brand their Self-Published Books
There have been a lot of interesting comments and discussion online about Harlequin’s just-announced self-publishing line Harlequin Horizons. The company’s Malle Valik replies on the Smart Bitches site: “Harlequin put its name on the Harlequin Horizons site to clearly indicate this is a romance self-publishing site. The books published through Harlequin Horizons will not carry traditional Harlequin branding. The self-published author will be the brand and the Horizon double H logo will appear on the spine of the book. Harlequin is the gold standard in romance and that will not be compromised. Readers will not confuse Horizons books with traditional […]