Dropbox Recently Acquires Social Reading Platform Readmill.

0

Dropbox Recently Acquires Social Reading Platform Readmill. 

Readmill, a popular eReader application has been recently grabbed up by the ever growing Dropbox company. The cloud storage company had announced that it currently in its final discussion to acquire Readmill, which had managed to launch during the previous year. The deal ha been rumored to be estimated somewhere around $8 million, comprised mostly of stock and barely any cash upfront.

Social.

Its seems that that they will also be keep Readmills current employees as well with  the company based in Berlin and TechCrunch has supposedly moving the founder towards Dropbox’s San Francisco offices. Whether Readmill will remain a its own services or become apart of the Dropbox suite of applications is currently unclear. Dropbox had also managed to acquire Zulip recently, which is a messaging service aimed towards inter-office communications.

Readmill offers books as a “social object” rather than reading material, bringing a cooperative feel to eBooks. The feel is somewhat similar to that of an online library rental of sorts, where user being able to follow not only each other but the authors as well. Somewhat similar to that of Twitter, except with more focus. The company has also had a successful Series A Funding round.

Future Plans.

One unfortunate news about this acquisition will be that as of today, the service will no longer be allowing new accounts to be created. The application will no longer be available on Tuesday, July 1:

As of today, it is no longer possible to create a new account, and on July 1, 2014, the Readmill app will no longer be available. For the next three months, our first priority is to help you transition to other services and get back to reading. All of your books and reading data are available for export in multiple formats.Our team will be joining Dropbox, where our expertise in reading, collaboration and syncing across devices finds a fitting home. Millions of people use Dropbox to store and share their digital lives, and we believe it’s a strong foundation on which to build the future of reading. We’re delighted to work alongside this talented team and imagine new ways to read together.

Dropbox may be leveraging their heavy user-base to build up a suite of applications similar to Evernote. A chat solution, cloud storage, and now a newly added social sharing gimmick. The company has currently not made any big changes ro even announced the Readmill will be integrated as part of their service, but we’ll simply have to wait and see how this ends up. With their recent addition of Motorola CEO Dennis Woodside joining in on their Board at COO for Dropbox, as wells as their currently aggressive push for additional features, grand changes will most likely to appear in the future.

Read Next:Dropbox Gets A Bit Chatty With Zulips Leaked Acquisition.

Share.

About Author

Kevin is passionate about startups and loves to write about them. Previously Kevin ran a design studio. Now he loves to write about tech and startups.

Entrepreneur Sky @Copyright 2014