Booktrope, a book publishing startup software platform that gave authors easy access to teams of editors, designers, marketers and other support staff, will close down at the end of May.
According to a report on Geekwire, Booktrope is shutting operations despite raising more than a $1 million in investment in 2015. In a message posted on the Booktrope site, the firms cofounders, CEO Ken Shear, CTO Andy Roberts and COO Jennifer Gilbert, said that despite “a collection of excellent books and with very strong contributions by creative teams who’ve provided editing, design and marketing services, Booktrope books have not generated sufficient revenues to make the business viable.”
Booktrope kept 30% of the revenues generated and 70% went to the creative teams that produced each book. The company had about 11 employees. The company also struck a deal with Amazon to reissue its titles via Amazon Publishing.
Booktrope is removing all of its titles from sale and sent an email to its members outlying how final royalties to authors and support will be paid.