In an updated to the last post, Lulu PR has confirmed rumors that they have acquired weRead. Lulu would not release details of the transaction but said it was more strategically motivated than monetarily (presumably, though, their strategy does include money…). Anyway, they went on to describe the move as for the “benefit and continued empowerment of our collective user groups.” On its face the combination does seem to fit that description and we expect to see the continued growth of the weRead apps.
As part of the acquisition the original press release states:
“weRead is headed by founders Krishna Motukuri and Harish Abbott who will divide their time between Lulu’s US offices and weRead’s center of operations in Bangalore, India.”
Congrats to Krishna, Harish, and the folks at Lulu.
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1 Book Values | b r a n t s // Nov 3, 2009 at 10:45 am
[...] me that it has more than 6.5 lakh users, 25 of whom are friends. I read recently that it had been acquired by Lulu. Not exactly the Amazon kind of deal, although I couldn’t help but wonder whether the [...]
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