Former First National Bank CEO Michael Jordaan has invested in South African e-book aggregator Snapplify through investment firm AngelHub Ventures.
AngelHub is backed by Jordaan and Rand Merchant Bank co-founder Paul Harris.
Snapplify was launched in late 2011 and provides e-book solutions for the trade and academic publishers. Some of the global publishers already signed with Snapplify include Penguin Random House, Pearson, Oxford and Cambridge.
“The funds will be used to expand the product and team across multiple countries and acquire new users in this rapidly developing market,” Snapplify said in a statement.
In the same statement, Jordaan said that the company is well positioned to capitalise on the digitisation of print media.
“In the content and media industry, the survivors will be those players who see digitisation as an opportunity to reach a much wider audience rather than an existential threat to the status quo,” he said.
“Snapplify can grow electronic distribution massively while protecting digital rights and ensuring that there are incentives for the creation of intellectual property.”
Jordaan will join the Snapplify board and will help the company expand internationally. — © 2015 NewsCentral Media