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Digital Magazine Service Zinio Is For Sale

Digital magazine publishing company Zinio is for sale and reports say that the company hopes to fetch between $50 million and $100 million.

The company has grown through the help of venture capitalism. CNN has more: “Zinio raised venture capital in the early part of the aughts, from brand-name firms like Apax Partners, New Enterprise Associates, North Bridge Venture Partners and Commonwealth Capital Ventures. But those firms all sold their stakes (for very little) more than five years ago to a real estate and hotel magnate named David Gilmour, who currently serves as the company’s executive chairman.”

AppNewser has more about what the company does: “Zinio’s service let’s users purchase subscriptions and individual issues of digital magazines and newspapers and read them through tablet smartphone, and desktop apps. They sell thousands of magazines including Rolling StoneHarper’s and VIVmag.”

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