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ibooks.com Snags New Funding; Opens Linux Store
Calvin Reid -- 5/8/00

ibooks.com, a Web book retailer that sells online access to technical reference books, has secured $30 million in second-round funding, led by a $15-million investment from Austin Ventures, a venture capital firm. The company also announced plans to launch a new online bookstore devoted to the Linux operating system and to information on Open Source programming.

Along with Austin Ventures, other new investors include Dell Computer Corporation, Hunt Ventures and Sanchez Venture Partners. Initial ibooks. com investors TL Ventures and Arkoma Venture Partners have also returned for further investment.

Jerry Weissberg, CEO of ibooks.com, said the new investment "validates confidence in ibooks.com." He said the funding will be used for "new investments in marketing and strategic partnerships, leading-edge technology" and to "offer an even wider range of reference content." Chris Pacitti, a partner at Austin Ventures, will join the ibooks.com board. Pacitti praised ibooks.com's "unique offering of expert reference books" and "advanced searching and browsing technology along with strategic distribution partnerships." He added, "The e-books market is attracting mainstream interest and we believe the company is well positioned."

Ibooks.com is opening its Linux/Open Source online bookstore (www.linux.ibooks.com) in collaboration with Andover. net, a Web destination site for information about Linux and Open Source. Andover.net is a network of computer technology sites that attracts more than three million Web browsers each month.

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