Booktrope plans to go out of business at the end of May, bringing an end to its “team publishing” platform used by ad hoc groups of authors, editors, marketers and designers to create and market print books and e-books.
The Seattle startup, which went through the prestigious Y Combinator accelerator program, announced the news Friday in a message on its site and a detailed email to users from the company’s executives.
“Much has been accomplished by Booktrope and our community over the past six years,” read the email from CEO and co-founder Ken Shear; co-founder and CTO Andy Roberts; and COO Jennifer Gilbert. “But even with a collection of excellent books and with very strong contributions by creative teams who’ve provided editing, design and marketing services, Booktrope books have not generated sufficient revenues to make the business viable.”
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The company connected authors with editors, cover designers, proofreaders and marketers to create and promote e-books and print books. Teams managed the process and collaborated using the company’s “Teamtrope” platform. Booktrope helped to get books published and distributed in print and as e-books, and managed financial and legal issues.
Booktrope kept 30 percent of the net profits, and the creative teams split the remaining 70 percent based on agreements among them. Booktrope didn’t charge any up-front fees.
Link to the rest at Geekwire and thanks to Piper for the tip.