Najafi Companies has invested in MeeGenius, the digital platform for selling children’s books. Although the amount of the investment wasn’t disclosed, Najafi said it is now “a significant strategic shareholder of MeeGenius.”
Among the publishers MeeGenius works with is Random House, which began offering more than 50 of its children’s titles through the platform in March. "Najafi group's strategic vision and assets coupled with financial strength provide a unique partnership to propel MeeGenius to the next growth stage," said Wandy Hoh, cofounder and CEO of MeeGenius. "We look forward to broadening our digital offerings to meet the increasing demand from educators, parents and our young readers."
The investment in MeeGenius is the latest in a string of deals made by Najafi, the most recent of which involved selling its holding in Direct Brands to back Resolution, a talent and literary agency headed by former ICM chief Jeff Berg. It has also acquired Cinram International, the producer and distributor of multimedia products, in 2012 and is the owner of Chapitre eBooks, a digital French book platform.