Dropbox has acquired Readmill and will be shutting down the app on July 1, 2014. Readmill said it was joining Dropbox to work on “new ways to read together.” Readmill will not be accepting new accounts.
Readmill said it had “failed” to create a sustainable solution for reading and apologized for not being able to solve the challenges surrounding e-books.
Readmill is used for reading their favorite e-books and sharing portions with friends and followers. The value of the deal is not known, but it has been pegged at about $8 million.