Books

Simon & Schuster’s New Online Venture Is Sure to Be Another Expensive Failure

Part of a photo on 250 Words' Facebook page.

It comes as a surprise that Simon & Schuster is launching yet another new books site, called 250 Words. 

The publisher’s first foray into literary websites was Bookish, a book recommendation site started by the Hachette Book Group, Simon & Schuster and Penguin USA.

Last month, we learned that Bookish had been sold to the e-book retailer Zola. It seems it was unable to compete with huge sites with Amazon, and struggled to draw in readers since its significantly delayed 2013 launch. 

Our sources tell us the publishing groups sold Bookish, which had reportedly received $20 million in funding, at a pretty serious loss.

So the debut of 250 Words seems strange, given that the last attempt at a books site was hardly a best-seller. Mediabistro reported yesterday that the publishing company has just launched 250 Words, a site that aims to become “a hub for intelligent business thinking, with a focus on books.”  Read More