Librify, Inc. has received an investment from ICG Ventures, Inc., an Ingram Content Group company.
DeSilva+Phillips, announces that its client, Librify, Inc., has received an investment from ICG Ventures, Inc, an Ingram Content Group company.
Librify provides publishers with an important new retail channel and direct ways to interact with consumers. The Ingram investment will allow Librify to enhance its offering as it prepares for its broad market launch later this Spring.
The timing of the investment announcement coincides with both Ingram and Librify speaking on panels at the Digital Book World 2014 conference.
“As the book world goes digital, start-ups and established players in the publishing industry can create more value by working together,” said Joanna Stone, Librify’s Co-Founder and CEO.“For decades, Ingram has been the leader in book distribution and has been at the forefront of rethinking the role of distributor in the digital age. We look forward to working with Ingram and benefiting from their expertise. We believe the Ingram relationship will provide great value to us in addition to their meaningful financial contribution.”
John R. Ingram will be joining Librify’s Advisory Board which includes Brian Napack, Senior Advisor at Providence Equity; Dominique Raccah, CEO and Publisher of Sourcebooks; Robin Warner, Managing Director at DeSilva+Phillips; and Andrew S. Rosen, Chairman and CEO of Kaplan.
“We are pleased to invest in Librify, a promising new start up,” says David Roland, Chief Venture Capital Officer for Ingram Content Group. “Our investment is part of Ingram’s ongoing commitment to support new channels that reach consumers with content. We look forward to supporting Librify in their efforts.”
Coincidentally, Stone met Roland for the first time in person at last year’s Digital Book World conference.
“In the last year, Librify has built the beta version of its product, secured content from major publishers and forged an important partnership as part of our launch plans,” says Stone. “We are excited to be able to announce Ingram’s investment at Digital Book World. What a wonderful way to celebrate the one year anniversary of David Roland and my first meeting!”
Librify is a retail and subscription service providing the first comprehensive eBook platform for book clubs. Based in New York City, Librify was founded in February 2013 by a team with extensive publishing industry experience and a successful track record of launching new businesses. Librify will offer social reading and other features to enhance the book club experience with a book-of- the-month-club–style subscription service.
For more information, visit www.librify.com or contact firstname.lastname@example.org.
|Transaction Type||Capital Raise|
|Investment from||ICG Ventures, Inc.|