Cleveland, OH and Sunnyvale, CA -- Jan. 7, 2003 OverDrive, Inc., (www.overdrive.com) a world leader in digital media services, and leading global Internet company, Yahoo! Inc. (www.yahoo.com) announced today that OverDrive, will manage and provide new content to the Yahoo! Shopping Digital Book store. The Yahoo! Shopping Digital Book store will open with more than 40,000 digital products available for immediate purchase and downloads, including e-books, digital magazines, audio books, and other premium content.
Under terms of the agreement, OverDrive will supply the e-commerce, Digital Rights Management technology, and digital inventory from more than 300 publishers and media suppliers. Titles available from the platform will include all the best-selling e-books from Random House, HarperCollins, Time Warner Book Group, McGraw-Hill, and Simon and Schuster, among others. The relationship will extend Yahoo!'s current e-books offerings to enable consumers to access one of the most comprehensive e-books collections online.
"Yahoo!'s extraordinary success in providing access to information, along with the convenience of Yahoo! Shopping, make this the perfect online location for a digital book store," stated OverDrive CEO, Steve Potash. "Yahoo is the premier destination for Web browsers seeking content and now Yahoo! Shopping offers the best digital media products for education, entertainment, business and travel," Potash added.
Buyers will be able to purchase content in a variety of digital formats including Microsoft Reader, Adobe Acrobat, Palm Digital Media, and Windows Media Player. The Yahoo! Digital Media Store will also sell subscriptions and fulfill digital magazines, periodicals, audio books and video content.
"At Yahoo! Shopping we take pride in providing our consumers with access to more than ten million products, including e-books, audio books and digital magazines," said Niki Pandey, director of production for Yahoo! Shopping. "We are looking forward to working with OverDrive to further build upon our current e-books platform to create one of the most comprehensive digital bookstores online."
OverDrive, Inc. is a leading provider of digital book, DRM and media marketplace technologies enabling the secure distribution over global networks. OverDrive is a strategic partner to Microsoft Corporation (NASDAQ: MSFT), Adobe Systems, Inc. (NASDAQ: ADBE) and Palm Digital Media, a business unit of Palm, Inc. (NASDAQ: PALM). The company is a Gold Sponsor of the Open eBook Forum. OverDrive was founded in 1986 and is headquartered in Cleveland, Ohio.