Xeriph, a Brazilian e-book aggregator based in Rio de Janeiro, has just received an investment of US$ 1.8 million from a national Brazilian group.
Xeriph was founded in 2010 and is currently the only active e-book aggregator in Brazil working in the traditional model. Offering around 2,000 digital titles, they have already signed deals with several Brazilian online retailers and bookstores. “Our goal at Xeriph is to become the OverDrive of Latin America,” says Carlos Eduardo Ernanny, Xeriph’s CEO.
Considering some recent numbers released about the Brazilian online retail market, the investment makes complete sense: According to the WebShoppers Report, a survey conducted by e-bit and the Brazilian Chamber of E-commerce, online sales in Brazil had a 40% growth in 2010, reaching US$ 8.7bn in the year. Meanwhile, book and magazine online sales grew 12% in the year.