According to a post by the co-founders, Readmill, a Berlin, Germany-based developer of an ebook reader that lets users read share and discover books, is shutting down the service while the team is joining DropBox.
TechCrunch reported that the acqui-hiring deal value was around $8m, “made up of mostly stock but with a small amount of upfront cash for the startup’s founders who will be moving to Dropbox in San Francisco“.
On July 1, 2014, the iPhone/iPad and Android app will no longer be available. For the next three months, the team’s priority is to help users move to other services and get back to reading.
Founded by Henrik Berggren and David Kjelkerud and officially launched in December 2011, Readmill is an ebook reader that allows users to read, share and discover books. It works in ePub and PDF format.
The company was backed by Wellington Partners, Index Ventures and Passion Capital, as well as angel investors Alexander Ljung and Eric Wahlforss (founders of SoundCloud) and Henrik Werdelin.
13/06/2012: Readmill Raises Series A Funding from Wellington Partners