In an outlook for the combined revenue from both Storytel and Mofibo, the service is nearing a quarterly revenue of 100 million SEK (over € 10 million). Among Mofibos shareholders are in addition to the main owner Morten Strunge also Seed Capital, Sunstone and 15 other investors. The course is set to 22.75 SEK, based on the average price during the negotiation period. It is also financed by issuing new shares to Morten Strunge equivalent to 20 million SEK. The acquisition is financed mainly by bank loans and to some extent Storytels own cash. In Holland however Mofibos service will be closed down and customers are offered a subscription to Storytel instead. In Sweden and Denmark Storytels and Mofibos customers will be able to continue use each service until further notice. Through the acquisition of Mofibo Storytels will now also take the leader’s jersey in Denmark, which gives us even better possibilities to accelerate Storytels international expansion.” says Storytel CEO Jonas Tellander
#MOFIBO STORYTEL TV#
“The last few years have Storytel taken the lead on the Swedish market for book streaming in a similar way like Spotify has done in music and Netflix has done in the TV series. Storytel, also founded in this region in 2005 in Lund, back then known as Bokilur, is since 2015 listed on Aktietorget, and has had an impressive growth. “I am proud of what Mofibo has achieved in a short time – it’s great to see an idea you have had becoming a business with 30 dedicated employees, playing an important role in shaping the future of the book market, and being read or listened to more than 100 000 books every month.” says Morten Strunge, CEO and founder of Mofibo. With the acquisition Morten Strunge will become part of Storytels management team and responsible for Storytels operations in Denmark and Holland. Mofibo also has partnerships with mobile operators TDC, 3 and Plenti, and the service is also available in Sweden and Holland. In Denmark Mofibo the leading book streaming service with over 40 000 paying subscribers. Mofibo was founded in 2013 by Morten Strunge, who previously in 2011 sold his company Onfone to Danish mobile operator TDC, and also just was in the news for investing in Rubberduck.
#MOFIBO STORYTEL APK#
The deal is worth 100 million DKK, € 13.5 million. Download: Storytel: Audiobooks & Ebooks APK (App) - Latest Version: 23.29 - Updated: 2023. We are therefore excited to announce that Mofibo and Storytel have chosen to merge their respective business, and Storytel has therefore as of today bought 100% of the shares in Mofibo.Mofibo, the online book streaming service, announced last week that they have been acquired by Storytel. With a business like Mofibo, scale is the key to success. Strunge, Mofibo c.e.o., said: “I am very proud of what Mofibo has become in just a few years, and how we have done our part in innovating the book industry and successfully reached out to new readers and listeners. Mofibo currently offers unlimited e- and audio-books for a fixed price a month in Danish, Swedish and Dutch markets. It now aims to “speed up its growth” following its acquisition by Storytel. The service, founded in 2013, was among the first in the world to launch a digital book subscription service and has more than 100,000 subscribers. The company has just acquired Mofibo for £13.3 million and is now the largest streaming service for audiobooks in Europe. Storytel is the leading audiobook streaming service and currently operates in Sweden, Norway, Denmark, the Netherlands, Poland and Finland.
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