WeRead started as a Facebook app (launched by uGenie and was started as a part time project) and later converted to a full fledged online network, enabling users to discover/recommend books.
Today Flipkart has announced that they have acquired WeRead. Earlier, Lulu (which acquired uGenie) had certain plans for WeRead, but seems nothing substantial has come out of it.
To give you certain context, uGenie founders have already quit Lulu/WeRead around 2-3 months back and from what I know, the Bangalore office was shut down as well.
For Flipkart, this is a contextual service – i.e. discovery of books via online networks (plus they get WeRead’s recommendation engine).
WeRead boasts of 3 million readers and 60 million books added by the users.
More on this as we get more details.
Link to full article
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