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Rakuten Invests in Book Summary Service getAbstract

21238641005_39634fea65_bCliffNotes has the mindshare, and SparkNotes the established retailer as a parent, but getAbstract is the service which has picked up an investment today.

The Japanese e-commerce firm Rakuten, owner of OverDrive, Kobo, and Aquafadas, announced on Thursday that it is set to acquire a “substantial minority stake” in getAbstract, a Swiss-based company which says it publishes the world’s largest library of business book summaries.

The terms of the deal have not been disclosed.

Launched in 1999, getAbstract employs business journalists to summarize well-known business books. It publishes summaries in English, German, Spanish, Russian, Chinese, French, and Portuguese, and according to the press release it has a catalog of  more than 14,000 summaries of "business books, business articles, video talks and economic reports, available in text and audio format on popular platforms".

GetAbstracts says that over one-third of Fortune 100 companies use its service,  including Microsoft, Credit Suisse, Audi, and Burberry.

“Rakuten will continue to accelerate growth of its digital content business globally and we look forward to discovering new synergies with getAbstract as the proven leader in compressed content through its extensive catalog and B2B client portfolio,” commented Takahito Aiki, Managing Executive Officer and President of the Digital Contents Company, Rakuten.

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