According to the latest news, Medium has announced that it has acquired ebook company Glose. Glose platform offers users to read and buy books, and share notes and highlights with friends.
Today, Medium CEO Ev Williams announced the acquisition at a press release. He said the company “look[s] forward to working with the Glose team on partnering with publishers to help authors reach more readers.” However, as Engadget notes, once the integration is complete, Glose’s library “won’t be included in Medium’s $5 monthly and $50 annual subscriptions.”
In an interview with CNN Business, Glose CEO Nicolas Princen raised the idea that readers will be able to jump from an article into a book. He said “The vision is to create an experience where you can go from one to the next. You can read an article and then just one-click purchase a book that connects to that content if you want to go deeper.”
In an interview with CNN Business, Ev Williams discussed about making it easier to spin off a blog post from an inspiring book passage from Glose. He said “If I’m reading a book and some particular passage speaks to me, I can very seamlessly take that to my blog, maybe write about it, maybe have a discussion about it. If I’m reading a book and [a] passage speaks to me, I can very seamlessly take that to my blog.”
The company has not disclosed any financial details of the acquisition. It is difficult to convince people to pay for shorter articles but many people are accustomed to paying for ebooks. It seems the company is looking forward to capitalize this. In simple words, Medium wants to be a formidable force in online reading. As per reports, it has recently added 1.5 million books to its library.