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Amazon.com acquires New York digital comics distributor ComiXology

(Credit: Reuters) A box from Amazon.com is pictured on the porch of a house in Golden, Colorado in this July 23, 2008 file photo.Amazon
April 11
2:49 PM 2014
by VCPOST Staff Reporter

Amazon.com has purchased ComiXology, a distributor of online comic books. The terms of the acquisition deal were not disclosed, according to The Motley Fool.

ComiXology co-founder and chief executive officer (CEO) David Steinberger said in a post published on the company's site: "ComiXology will retain its identity as an Amazon subsidiary and we're not anywhere near done 'taking comics further.' We are confident that - with Amazon by our side, who shares our desire for innovation and a relentless focus on customers - we've only just begun."

Under the terms of the transaction, Steinberger will still be the head of ComiXology. The e-commerce giant plans to invest its resources into its newly acquired firm and work towards its growth, the report detailed.

ComiXology reached the third place among the highest-grossing iPad apps in 2012. The firm achieved a minimum of 8 million downloads every month. This number is sometimes higher than the physical books that are delivered to comic shops weekly, The Motley Fool added.

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VCPOST Staff Reporter

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