Vancouver eBook Startup Bitlit Raises Seed Round from Former Kobo CEO

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Vancouver startup BitLit has raised a round of funding from Kobo’s founder and former CEO, Michael Serbinis and Three Angels Capital. Also taking part in the round was Mike Volker (WUTIF fund) and Jim Fletcher.

No dollar figure was reported by the seed-stage startup. If we had to guess, we’d speculate that’s it in the $500,000-$750,000 range.

BitLit allows users to use its app to acquire an eBook provided that they own a physical copy of the book. The eBook is either free of charge or can be purchased for a discounted rate.

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Read Also: Take Your Bookshelf Anywhere: BitLit Gives Readers an eBook Version of a Book They Already Own

After downloading the free app, users need only to prove they own the print book by writing their name onto the book’s copyright page and taking a picture with their smartphone. “We are thrilled to have raised our seed financing from investors with backgrounds in both technology and publishing,” said BitLit CEO Peter Hudson.

Available on both iOS and Android, the Vancouver startup’s app has taken advantage of partnerships with 85 publishers including O’Reilly, Other Press, ECW Press, Osprey Group, Greystone Books, and Berrett-Koehler. BitLit has over 10,000 titles available for print and ebook bundling. Approximately 30 percent of BitLit’s bundled ebooks are free if a user owns the print copy.

Joseph Czikk

Joseph Czikk

Joseph Czikk is Managing Editor at Betakit. Prior to Betakit Joseph wrote for the National Post, Montreal Gazette, Vancouver Sun, Regina Leader Post, Techvibes and BC Business Online. Joseph often goes crazy on twitter during NHL and NFL games.

  • http://www.cheapstudents.ca/ Lauren @ Cheap Students

    Love this idea! I had always wondered why you couldn’t get an ebook version of the physical copy you had already purchased.