Brooklyn based electronic book publisher, Atavist, is partnering with Brightline, a new book publishing venture that was formed by IAC’s Barry Diller as well as Scott Rudin, a film and theater producer. The partnership creates a new force in the rapidly changing digital book market, which is dominated by Amazon. Atavist and Brightline will exchange an undetermined amount of minority equity in both ventures, while IAC will provide $20 million to build Brightline as a publisher as well as making investments in Atavist, according to the NY Times.
Atavist was founded in Brooklyn by Evan Ratliff, Jefferson Rabb and Nicholas Thompson. The company gained attention for its content management system, which the group used to produce multimedia story telling for different electronic devices.
“Evan and the Atavist started this with nothing,” Mr. Diller said. “We are going to lead this with a lot of marketing money and investment. They want to do bigger things without losing control.”