Egypt-based e-book platform Kotobna, has acquired 40 per cent of e-book merchandise Autograph, bringing its market value to $3 million.
Since its launch in 2014, the platform has published more than 1000 e-books, sold 50,000 and printed 800 via its print-on-demand feature, according to Mohamed Gamal, CEO and co-founder of Kotobna. "The company has witnessed a steady year-on-year growth during the last three years by 70 per cent and growth in the Gulf clients by 50 per cent."
Founded in 2016, Autograph initially started by selling gifts and stationery products inspired by best-selling book characters.
“We want to help our listed authors in Egypt and the Gulf rebrand their work by converting their heroes into interesting stationery items and giveaways, thus creating a stronger bond between readers and their favourite characters,” said Gamal.
Previously in 2017, O2 Media group invested $500,000 in Kotobna.