Booktopia - Voluntary Administration

[Karellen]

In its initial public offering in 2020, Booktopia issued shares at $2.30 and debuted on the ASX at $2.86.

The stock has since lost more than 98 per cent and last traded at $0.045.

That is a shame...

Read more... https://www.abc.net.au/news/2024-07-...tail/104053908

[Karellen]

I found this an interesting read on the state of Australian book sales...
https://www.abc.net.au/news/2024-07-...hing/104087636

Never would I have thought the highest volume of book sales comes from discount stores like Kmart and BigW.

[John F]

Originally Posted by Karellen

I found this an interesting read on the state of Australian book sales...
https://www.abc.net.au/news/2024-07-...hing/104087636

Never would I have thought the highest volume of book sales comes from discount stores like Kmart and BigW.

That is interesting. I wonder if the U.S. is the same? Whenever I pass the book section in Walmart, I don't notice anyone browsing the books.

And very little mention of ebooks and audiobooks in the article.

And from the article:

IBISWorld data has Booktopia as selling $200 million a year, outstripping its main rival Amazon, the American company owned by Jeff Bezos.

Bezos may be The largest stock holder (I assume), but he doesn't own it; he's not even the CEO.