DANG launches its own e-book platform later this month.
This was confirmed by Dangdang’s VP, Yi Wen-fei, who said that there are already 50,000 digital books ready to be bought and downloaded on launch day, from over 100 different publishers. Dangdang’s digital books can be read on its own apps for iOS and Android, which are believed to be launching soon
Net institutional shares purchased over the current quarter at 5.5M, which is 19.75% of the company’s 27.85M share float.
Talking of rev share, Dangdang will take 40 percent on its upcoming e-book platform, and the publishers will get 60 percent
Eton Park Capital Management reported holding 1,730,000 shares
DangDang To Launch Kindle-Like E-book Reader by Jason Lim on December 7, 2011 • 6:18 pm 1 Comment
Everywhere I go, I see people reading something on their mobile, iPad or Kindle. At least in Beijing, people make long journeys on public transport, to and from work, so they need to make good use of their travel time.
Realizing the big market size, DangDang, a ‘Chinese Amazon’ is releasing its own version of the Kindle in Q1 next year. Additionally, like Amazon, DangDang will also have their own app marketplace and offer both Apple iOS and Google Android apps for respective Apple and Android devices.
General Manager of DangDang’s Digital Media Business, Yi Wen Fei said they will sell paid e-books. 50% of Chinese publishers will co-operate with Dang Dang and split revenue with Dang Dang, where they will get 60% and DangDang will take 40%.