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eBook Gift Card Maker Qinqo is Bankrupt

qinqoeBook gift cards suffered a setback today in the Netherlands.

Qinqo, a Dutch startup that launched late last year, has posted a notice on their website that they are ceasing operations. In short, the firm has run out of money and cannot continue to operate based on current revenue.

Any cards that have been purchased but not redeemed are no longer valid, so purchasers might want to ask the retailers for a refund (assuming this is even possible).

qinqo 2Qinqo first came to my attention in December 2012 when they debuted a new gift card platform. At the time I reported that:

Rather than just sell cards which entitle the buyer to download a single title, Qinqo also offers author and genre cards.

These other cards were developed with gift-giving in mind. Ever receive a book and wish it were a different title by the same author? That is the kind of problem that the author card is intended to solve, and the genre card works much the same way.

In addition to the cards, Qinqo is working on a vending machine type of concept where the customer can choose a title, buy it, and receive a download code on a slip of paper.

Qinqo reportedly had 300 Dutch stores, including The Readshop and Dixons, signed up to carry the cards.  Given the size of their distribution network, I am surprised that the firm failed.

 

eReaders.nl

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[…] for the most part cannot be bought in a store. This could even mean that ebook gift cards (like the failed Quinqo) could be the future of ebook sales in Europe because they give b&M stores a chance to sell […]


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