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Digital Platform ePals Acquires Carus

first_imgIn order to aid its move into the home subscription market, educational digital platform ePals Corporation acquires Carus Publishing Company, along with its magazine, book and retail assets. Under terms of the deal, ePals will pay $5 million in cash and $10 million in stock and will merge Carus into an indirect subsidiary.Carus’ 2010 revenues were $16 million and EBITDA was just under $1 million. The company’s net loss in 2010 was about $270,000.Carus Publishing Company includes the Cricket Magazine Group, Cobblestone Publishing and Open Court Publishing divisions. The Cricket Magazine Group houses 14 titles for children aged up to 14 years. Consumer subscriptions total 300,000, with institutional subscriptions bringing in 80,000 subs. The acquisition also includes Carus’ Ladybug iPhone app, as well as a content licensing business with three localized Chinese publications.ePals, which went public earlier this year, will have ownership of 600,000 paid subscriptions upon completion of the acquisition; this in addition to 7 million registered users in classrooms and homes in over 200 countries and territories. The company’s current content partners include National Geographic and the Smithsonian Institute. ePals’s digital Global Community is represent by brands like email program SchoolMail, communication and collaboration tool LearningSpace and e-mentoring program In2Books. Carus launched in 1887. Its flagship magazine, Cricket, debuted in 1973. In addition to its magazine and book sector, Carus’ portfolio also includes crafts, toys and gifts.More on this topic Printer Launches Updatable Mobile Magazine App Service Paste Returns? Music Mag Acquired, Set to Relaunch as Digital Edition Hearst Completes U.K. Portion of Lagerdere Acquisition Digital Newsstand Zinio.com Reports 154 Percent Growth in Transactions Over 2005 (posted 10/18) Quebecor Finalizes $55M Reader’s Digest Deal Former Meredith Exec Joins National Journal as PresidentJust In The Atlantic Names New Global Marketing Head | People on the Move This Just In: Magazines Are Not TV Networks BabyCenter Sold to Ziff Davis Parent J2 Media | News & Notes Shanker Out, Litterick In as CEO of EnsembleIQ Meredith Corp. Makes Digital-Side Promotions | People on the Move Four More Execs Depart SourceMedia in Latest RestructuringPowered bylast_img read more

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POLICE LOG for July 14 OUI Arrest Warrant Arrest Truck vs Pole

first_imgWILMINGTON, MA — Here are highlights from the Wilmington Police Log for Saturday, July 14, 2018:Police received report of people ringing the door bell of a Flynn Way home and running off. Police unable to locate perpetrator. (12:42am)A white 2011 Chevy Silverado struck a pole on Glen Road. No injuries noted. No vehicle towed. Verizon and RMLD notified. (1:51am)James Bernard Kelly (26, Somerville) was arrested for OUI Liquor.  Vehicle blew out a tire on Main Street after striking a curb and pulled in next to Charlie’s Auto Body. (9:36am)A caller reported a group of about 20 people were arguing and fighting on Brentwood Avenue. Police responded. There was a verbal argument between sisters. Jillian A. Francis (31, Gloucester) was arrested on a warrant. (8:27pm)Police received report of a loud party on Towpath Drive. Homeowners were advised of the complaint and they turned the music down. (11:19pm)(DISCLAIMER: This information is public information.  An arrest does not constitute a conviction.  Any arrested person is innocent until proven guilty.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip?Share this:TwitterFacebookLike this:Like Loading… RelatedPOLICE LOG for July 26: 2 Missing Teens; OUI Arrest; Main St. Shut Down Due To Crash; Road Rage IncidentIn “Police Log”POLICE LOG for July 25: Wilmington Man Arrested For OUI; Men Carrying Sledgehammers Down Street; Turkeys Causing TrafficIn “Police Log”POLICE LOG for July 7: OUI Arrest; Warrant Arrest; Dude, Where’s My Car?In “Police Log”last_img read more

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Perry Chen Kickstarter CEO steps down from his role in the middle

first_imgIt was just yesterday when the employees of Kickstarter, an American crowd-funding platform for creative projects, announced that they are forming a labor union called Kickstarter United, to secure more rights for the firm’s employees. Kickstarter could be the first major tech company comprising a union representation in the US. Today, Perry Chen, CEO, Kickstarter announced that he is stepping down from his role as a CEO at Kickstarter. Chen stated in an open letter on Kickstarter’s blog that he’s going to focus more on the high-level and long-term goals within the company in his role as Chairman of the board. Chen notes that Kickstarter has managed to accomplish a lot in just ten years. For instance, the firm has successfully funded nearly 160,000 projects from all over the world and have pledged to over $4.2 billion projects. Aziz Hasan, head of Kickstarter’s Design & Product teams, will be now handling the daily responsibilities as an ‘Interim CEO’. The Kickstarter PBC board will be working with Aziz over the next weeks and months to make his role as an Interim CEO permanent. BuzzFeed had reported earlier last year in April that after Chen returned back to the role of CEO in 2017, about 50 out of 120 Kickstarter employees had left the company. Out of these, seven of the eight members were a part of the firm’s executive team. “Chen strongly exerted his will on the company — making sudden changes to planned-out Kickstarter features, scrapping project timelines at the last minute, forcing out highly respected employees, and trying to shake up office culture in ways that struck the rank and file as simply bizarre”, mentioned BuzzFeed. Also, As first reported by the Verge, Kickstarter Union states that the firm overall has failed at manifesting its values within the workplace. The Union hopes to encourage “solidarity, transparency, and accountability; a seat at the table.” “It’s been a true honor to serve as CEO for the first five years of this company and again for the last two…10 is just the beginning. And I cannot wait to see what the next 10 years of Kickstarter will bring”, states Chen. You can check out Chen’s official letter here. Read Next Dr. Fei Fei Li, Google’s AI Cloud head steps down amidst speculations; Dr. Andrew Moore to take her place Linus Torvalds is sorry for his ‘hurtful behavior’, is taking ‘a break (from the Linux Community) to get help’ Vim-go creator, Faith Arslan, takes an “indefinite sabbatical” from all his open source projects as he’s burnt outlast_img read more