Register Guidelines E-Books Search Today's Posts Mark Forums Read

Go Back   MobileRead Forums > E-Book General > News

Notices

Reply
 
Thread Tools Search this Thread
Old 12-25-2019, 04:29 PM   #1
odamizu
just an egg
odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.odamizu ought to be getting tired of karma fortunes by now.
 
odamizu's Avatar
 
Posts: 1,278
Karma: 2169814
Join Date: Mar 2015
Device: Kindle Oasis1 & Voyage, iOS
OverDrive sold to private equity firm KKR

The Christmas Eve timing of the announcement is curious — as if they wanted this news to fly under the radar.

from BusinessWire:

Quote:
KKR, a leading global investment firm, today announced the signing of a definitive agreement to acquire OverDrive, Inc. (“OverDrive” or the “Company”), the leading digital reading platform for libraries and schools, from Rakuten USA ...

from MarketWatch:

Quote:
The two sides did not provide a price tag for the Ohio-based property, which Rakuten purchased for $410 million in 2015 , but Rakuten said it would recognize about $365.6 million in profit from the sale
odamizu is offline   Reply With Quote
Old 12-25-2019, 05:51 PM   #2
binaryhermit
Wizard
binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.binaryhermit ought to be getting tired of karma fortunes by now.
 
binaryhermit's Avatar
 
Posts: 3,854
Karma: 12427702
Join Date: Oct 2014
Location: Lockport, IL
Device: Kindle Paperwhite 3rd gen, so-called "All-New Kindle" (AKA 10th gen)
The timing does seem weird...
And given how private equity firms generally operate firms they acquire... RIP Overdrive?
binaryhermit is offline   Reply With Quote
Advert
Old 12-25-2019, 06:37 PM   #3
rcentros
eReader Wrangler
rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.rcentros ought to be getting tired of karma fortunes by now.
 
rcentros's Avatar
 
Posts: 5,522
Karma: 33445566
Join Date: Mar 2013
Location: Boise, ID
Device: PocketBook HD3
Quote:
Originally Posted by binaryhermit View Post
The timing does seem weird...
And given how private equity firms generally operate firms they acquire... RIP Overdrive?
Well... rats. I guess KKR bought RBDigital last year. I wonder if Rakuten is also marketing Kobo.
rcentros is offline   Reply With Quote
Old 12-25-2019, 07:24 PM   #4
DuckieTigger
Wizard
DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.
 
DuckieTigger's Avatar
 
Posts: 4,360
Karma: 241665107
Join Date: Dec 2011
Location: USA
Device: Oasis 2, PW3
Interesting. I wonder if the OD integration into Kobo ereaders will survive.
DuckieTigger is offline   Reply With Quote
Old 12-25-2019, 09:37 PM   #5
Pajamaman
Wizard
Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.Pajamaman ought to be getting tired of karma fortunes by now.
 
Pajamaman's Avatar
 
Posts: 2,189
Karma: 6879116
Join Date: May 2016
Location: Quebec
Device: Onyx Nova
Interesting. I think ratakun paid a lot of money for it. Did they stymy Amazon?
Pajamaman is offline   Reply With Quote
Advert
Old 12-26-2019, 08:06 AM   #6
stumped
Wizard
stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.
 
Posts: 3,063
Karma: 5604042
Join Date: May 2016
Device: kobo forma, Kobo Libra, Huawei media Tab, fire HD10, PW3 HDX8.9,
so all software solutions to borrow e-books from libraries will be under the thumb of a single private equity firm ( who may merge Overdrive with Rbdigital or kill one to promote the other)

I don't see this ending well, for us consumers
stumped is offline   Reply With Quote
Old 12-26-2019, 09:30 AM   #7
John F
Grand Sorcerer
John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.John F ought to be getting tired of karma fortunes by now.
 
Posts: 5,115
Karma: 39633900
Join Date: Feb 2009
Device: Kobo Glo HD
Quote:
Originally Posted by stumped View Post
so all software solutions to borrow e-books from libraries will be under the thumb of a single private equity firm ( who may merge Overdrive with Rbdigital or kill one to promote the other)

I don't see this ending well, for us consumers
Aren't there other alternatives, like FReading?
John F is offline   Reply With Quote
Old 12-26-2019, 10:12 AM   #8
stumped
Wizard
stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.stumped ought to be getting tired of karma fortunes by now.
 
Posts: 3,063
Karma: 5604042
Join Date: May 2016
Device: kobo forma, Kobo Libra, Huawei media Tab, fire HD10, PW3 HDX8.9,
Quote:
Originally Posted by John F View Post
Aren't there other alternatives, like FReading?
never heard of them but ok - a google search shows some USA libraries use them, dunno how many.

I thought overdrive had most of the library market, except where Rbdigital had under-bid them on renewals( which is what happened with my library )

wikipedia says
[overdrive's]global network includes more than 43,000 public libraries, K-12 schools, colleges and universities, and corporations in 75 countries worldwide.

I cant easily find comparable figures for the others,
but looking for freading on google play it had only 500+downloads [ and 1 terrible review] , compared to 1M+ for libby & 5M+ for overdrive, so hardly a serious competitor ?
RBditial is 500k+ and borrowbox 100k+

so judging from downloads, overdrive has 10x the users of Rbdigital , & 2,000x the users of Freading

Last edited by stumped; 12-26-2019 at 10:18 AM.
stumped is offline   Reply With Quote
Old 12-26-2019, 11:46 AM   #9
fjtorres
Grand Sorcerer
fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.
 
Posts: 11,729
Karma: 128238484
Join Date: May 2009
Location: 26 kly from Sgr A*
Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000
One of the ways these firms operate is to buy wholly owned subsidiaries to take them public. Also, it is worth remembering that library ebook lending isn't the only thing Overdrive does, just their dominant revenue stream.
They are also ebook distributors for white label ADEPT ebookstores. A dying business, I know, but their Libby app is all over the place--well over a million installs on Android--so they are a viable candidate to add ebook sales to Libby and add a consumer business.

They have the visibility and back end capabilities to expand into ebook and audiobook retail and challenge Amazon. They could also look to pbooks to challenge Ingram now that Baker and Taylor is out of the trade book distribution business. Or, less likely, they mivht buy Ingram.

Also, if B&N wants to get rid of Nook or their pbook distribution system (as suggested by Shatzkin), KKR could buy it cheap and combine the three properties, run it a year, and IPO it.

They paid a premium for Overdrive so expansion and IPO is the more likely plan.
What remains to be seen is how they go about it.

This could get interesting.

Last edited by fjtorres; 12-26-2019 at 11:49 AM.
fjtorres is offline   Reply With Quote
Old 12-26-2019, 05:35 PM   #10
bookyboy
Addict
bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.bookyboy ought to be getting tired of karma fortunes by now.
 
Posts: 252
Karma: 426284
Join Date: Oct 2019
Device: none
Gross. Just gross.

Private equity. Ugh.

It makes me wonder if they are looking to part with all of Kobo at some point also
bookyboy is offline   Reply With Quote
Old 12-26-2019, 05:41 PM   #11
teija
Gadget fiend
teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.teija ought to be getting tired of karma fortunes by now.
 
teija's Avatar
 
Posts: 351
Karma: 2111100
Join Date: Apr 2013
Location: Vancouver, Canada
Device: Kobo Clara HD, Aura HD, Kindle 7th Gen, Paperwhite 2, Sony PRS-350
Quote:
Originally Posted by bookyboy View Post
Gross. Just gross.

Private equity. Ugh.

It makes me wonder if they are looking to part with all of Kobo at some point also
This news about Overdrive is very sad indeed! I only JUST picked up a Kobo Clara HD 3 weeks ago so that I could make use of the handy Overdrive integration...now I fear that may disappear!

I do have to honestly wonder if Kobo is making much money these days... Hard to compete with the "mainstream" Amazon Kindle ecosystem for its ease of use and integration with regular "shopping". (i.e. A user can go onto the Amazon site to buy household supplies and then easily pop over to the Kindle section to buy something to read, or be linked to something via their suggestions).
teija is offline   Reply With Quote
Old 12-26-2019, 06:18 PM   #12
ZodWallop
Gentleman and scholar
ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.ZodWallop ought to be getting tired of karma fortunes by now.
 
ZodWallop's Avatar
 
Posts: 6,824
Karma: 58673123
Join Date: Jun 2015
Location: Deep in the heart of Texas (whether I like it or not)
Device: Kobo Aura, Clara HD; Nook ST w/Glowlight, Glowlight Plus, Glowlight 3
Quote:
Originally Posted by DuckieTigger View Post
Interesting. I wonder if the OD integration into Kobo ereaders will survive.
It seems like it would be in OverDrive's interest to be available on as many devices as possible, now that a single ereader manufacturer doesn't own them.
ZodWallop is offline   Reply With Quote
Old 12-26-2019, 07:04 PM   #13
pwalker8
Grand Sorcerer
pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.
 
Posts: 6,984
Karma: 67431880
Join Date: Dec 2006
Location: Atlanta, GA
Device: iPad Pro, iPad mini, Kobo Aura, Amazon paperwhite, Sony PRS-T2
Quote:
Originally Posted by bookyboy View Post
Gross. Just gross.

Private equity. Ugh.

It makes me wonder if they are looking to part with all of Kobo at some point also
Private equity firms have been demonized for political purposes, but really there is nothing wrong with them. They have purchased and maintained a lot of older firms that had fossilized. Sometimes they close a company and sell the assets, sometimes they provided needed capital and leadership to right the company.
If you look at the holdings of KKR, you see they have investments in a lot of companies include Lyft, Sonos and UFC, and many of their investments go back years.
pwalker8 is offline   Reply With Quote
Old 12-26-2019, 07:20 PM   #14
fjtorres
Grand Sorcerer
fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.
 
Posts: 11,729
Karma: 128238484
Join Date: May 2009
Location: 26 kly from Sgr A*
Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000
Quote:
Originally Posted by ZodWallop View Post
It seems like it would be in OverDrive's interest to be available on as many devices as possible, now that a single ereader manufacturer doesn't own them.
Their money comes from the libraries not the readers.

So realistically Kobo integration benefits Kobo a lot more than Overdrive. To differentiate their hardware from the other ADEPT ePub ereaders. Kobo might have to pony up some cash now that they're not corporate siblings. Or not.

Also, to the extent that driving library usage benefits Overdrive, they might open up the channel to other ADEPT ereaders, maybe all of them, instead of closing it to Kobo.

Seems to me folks are only thinking about bad options instead of ways freeing Overdrive from (the not so ebook-invested) Rakuten might be good.

Last edited by fjtorres; 12-26-2019 at 07:24 PM.
fjtorres is offline   Reply With Quote
Old 12-26-2019, 07:48 PM   #15
j.p.s
Wizard
j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.
 
Posts: 3,425
Karma: 61480419
Join Date: Apr 2011
Device: pb360
Quote:
Originally Posted by ZodWallop View Post
It seems like it would be in OverDrive's interest to be available on as many devices as possible, now that a single ereader manufacturer doesn't own them.
Quote:
Originally Posted by fjtorres View Post
Also, to the extent that driving library usage benefits Overdrive, they might open up the channel to other ADEPT ereaders, maybe all of them, instead of closing it to Kobo.

Seems to me folks are only thinking about bad options instead of ways freeing Overdrive from (the not so ebook-invested) Rakuten might be good.
My reading of ZodWallop's post is exactly your first sentence, which renders the "only" in your second sentence false.
j.p.s is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
KKR on why bestsellers aren't what they used to be fjtorres General Discussions 5 03-08-2016 06:45 PM
KKR'S Women in Science Fiction website fjtorres Reading Recommendations 2 06-14-2015 12:18 PM


All times are GMT -4. The time now is 02:06 AM.


MobileRead.com is a privately owned, operated and funded community.