Amazon.com Invests in Shelfari Series A Financing
Amazon.com and Angel Investors Infuse Burgeoning Social Media Site with First Round of Funding; Shelfari Appoints Seasoned Business Veterans to Board of Advisors
SEATTLE, WA – February 28, 2007 – Shelfari (www.shelfari.com), the leading social media site for people who love to read, today announced that it has closed its Series A round of funding, led by Amazon.com along with several other strategic angel investors. Launched in October 2006, Shelfari provides tens of thousands of bibliophiles with a new place to meet and share their passion for reading online. Proceeds from the financing will be used to fund site development, sales and marketing initiatives, and general administrative costs.
“Amazon.com has long recognized that giving users the necessary tools to express themselves is the most powerful way to feed and nourish an online community,” said Greg Greeley, VP of Books for Amazon.com. “In a short period of time, Shelfari has succeeded in building a vibrant community around the experience of reading, and we are pleased to support them in their efforts.”
In addition to today’s funding announcement, Shelfari also announced the formation of its board of advisors. These individuals include Alex Algard, founder of CarDomain.com and WhitePages.com; Geoff Entress, an experienced entrepreneur and venture investor; Brad Feld, a managing director at Foundry Group; Andy Sack, a co-founder of Judy’s Book; and Kelly Smith, a partner in Curious Office. In addition, Stefan Pepe, Director for Amazon’s Books & Magazines stores, joins the Shelfari board of directors.
“Amazon.com pioneered user-driven content ten years ago when it provided its customers with a vehicle to add their own reviews and Shelfari seeks to build on that legacy by giving readers a place where they can connect with others who share their passion,” said Josh Hug, Shelfari’s CEO and co-founder. “We are also very fortunate to have such a high-caliber group of industry experts as both investors and advisors whom we can call upon to help us deliver on our mission to connect readers online.”
Headquartered in Seattle, Washington, Shelfari is creating the world’s first social media site focused on books. A powerful yet simple interface enables Shelfari users (“Shelfarians”) to build virtual bookshelves and socially interact around the books they care about. The company was founded by three technology veterans from RealNetworks who believe that people want to discuss and discover great books online. Shelfari can be found by visiting www.shelfari.com.
Amazon.com, Inc., (Nasdaq: AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth’s Biggest Selection. Amazon.com, Inc. seeks to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as health and personal care, jewelry and watches, gourmet food, sports and outdoors, apparel and accessories, books, music, DVDs, electronics and office, toys and baby, and home and garden.
Amazon and its affiliates operate websites, including www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca, and www.joyo.com.
As used herein, “Amazon.com,” “we,” “our” and similar terms include Amazon.com, Inc., and its subsidiaries, unless the context indicates otherwise.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management’s expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, significant amount of indebtedness, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2006, and all subsequent filings.