Yesterday, Amazon.com, Inc. (NASDAQ:AMZN) unveiled its plans to buy comiXology, which is described as “the iTunes of comic books”.
Both companies didn’t disclose the terms of the deal.
Endless possibilities for Amazon
ComiXology began in 2007 as a community site for comic fans. It catalogs comic books and graphic novels produced by independent authors along with over 75 of the top industry publishers.
Though Amazon.com, Inc. (NASDAQ:AMZN) hasn’t revealed how the digital comics app will figure into its vast portfolio, Rachel King of Between the Lines notes that there could be endless possibilities from integrations on the Kindle Fire to in-app purchases and whatnot made possible through the Amazon Appstore.
The comiXology deal also follows a few other notable deals hatched by Amazon.com, Inc. (NASDAQ:AMZN) in the media world such as the acquisitions of Lovefilm and Goodreads.
Following its acquisition of the film and games subscription service Lovefilm, Amazon’s UK website has been concentrating in offering its Lovefilm video streaming and AmazonMP3 services, Kindle fire products, official apps and audio books.
Last year, Amazon.com, Inc. (NASDAQ:AMZN) acquired Goodreads, an online book reviewing and noting service. The new Kindle Paperwhite takes advantage of the new Amazon.com, Inc. property by integrating the Goodsreads service into the new Kindle Paperwhite.
ComiXology’s leading role
ComiXology introduced a digital reader and store in 2009. With the sales of physical comics dwindling, ComiXology is playing a leading role in developing the technology that is allowing the craft to move online. Last fall, ComiXology had its 200-millionth download. Amazon.com, Inc. (NASDAQ:AMZN) indicated that it planned to invest in the company and expand its team.
Amazon.com, Inc. (NASDAQ:AMZN)’s search engine and payment platform for used-book stores around the world called AbeBooks is not branded as being an Amazon company and is not integrated into the company’s main shopping site, offering a model for ComiXology.
ComiXology offers upwards of 50,000 comics for sale. Last year, the ComiXology iOS app was one of the App Store’s top performing, by gross sales. In fact, it was one of just two non-games to find itself in Apple Inc. (NASDAQ:AAPL)’s Top 20 Grossing for 2013.