Ganxy, founded in 2009 by Joshua Cohen and Aleks Jakulin to help music and book publishers sell their content online, is going out of business.

In a post on its website on Thursday, the company said that effective immediately it was winding down its operation. It also issued a 30-day notice of termination of its services. As of December 29, 2018, the post said, “all of our operations will shut down and will no longer be available. Payouts from sales of products will be processed subject to available funds as part of our winding up and dissolution process.”

The collapse of Ganxy marked the end of yet another company that tried to establish an independent e-book distribution platform to compete with Amazon. Ganxy hoped to create a niche for itself by helping mostly mid-size publishers market and sell directly to consumers.

In its post, signed by the Ganxy team, the company blamed corporate giants for its demise. “Due to the changing reality of the economics and de facto oligopolies in eBook and music distribution, our story is ending.”

The post went on to say that while “many challenges in the world of digital products remain unsolved,” Ganxy does not have the resources to continue.