Kompas Gramedia acquires local e-book start-up

Indonesia’s largest media and publishing company, Kompas Gramedia, has acquired e-book and digital newsstand start-up Scoop.

As announced on Friday, Kompas Gramedia now owns 100 percent stake in Scoop. Kompas Gramedia became an investor in Scoop in 2013 by donating around US$ 3 million.

Gramedia.com CEO Andy Budiman previously mentioned that the company became interested in acquiring Scoop upon noticing the start-up’s crucial role in strengthening Kompas Gramedia's digital platform.

Scoop founder and CEO Wilson Cuaca told merdeka.com that he believed Kompas Gramedia would be able to take the start-up to the next level.

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Scoop has been downloaded by 6 million users in the App Store and Google Play Store. The e-reader platform has formed a partnership with 400 publishers, which includes 500 newspapers, 30,000 books and 800 digital magazine titles. (asw)