Orrick advised Paris-based startup Glose and its shareholders on its acquisition by Medium, the U.S. micro-blogging social network.
Created in 2014, Glose is a digital platform that specializes in the distribution of ebooks. With a catalog of 1.4 million digital books, it reaches more than one million readers worldwide, mainly in the United States. In particular, it supplies more than 25 universities with electronic books. By joining the U.S. platform, Glose looks to expand its technology to a larger audience of readers around the world.
Medium is a social network launched in 2012 by one of the founders of Twitter and Blogger that allows any user to publish an article with greater visibility than a traditional blog. The platform has a monthly traffic of 170 million visitors.
With this acquisition, Medium also announces the opening of its first office outside the United States, in Paris.