Ridibooks, which claims to be South Korea’s largest e-book vendor, announced that it has raised a $8 million Series B to improve its user experience and reach new customers. Investors include NeoPlux, which led the round, Company K, Mirae Asset Venture Investment, and Atinum Investment.
The startup was founded in 2009 and says it now has 2 million users, while more than 32 million e-books have been downloaded using its platform.
While South Korea is one of the top 10 book markets in the world based on market volume, digital books still account for just three to five percent of the total market.[external-link]