According to Adweek, Zinio is looking for between US$50 million to US$100 million and has hired Montgomery and Co. to handle the sale.
Zinio enables magazines to distribute electronic versions of their publications on iOS and other platforms.
Zinio has had considerable success since the iPad launched, and is currently the world’s largest newsstand and bookstore. It also enables customers to read publications on Android and BlackBerry devices, as well as on computers.
But it is seen to be facing increased pressure from custom-built magazine Apps that can be distributed via Apple’s App Store and are promoted and stored with Apple’s Newsstand service. Newsstand also enables customers to purchase digital editions with an iTunes account, rather than signing up for a separate Zinio account.
Most Zinio editions are based upon flat replicas of the printed page, although interactive features such as video and audio can be inserted into Zinio editions. Custom-built apps, however, distributed via Newsstand can contain whatever interactive features the developer’s implement.
Zinio has a healthy stable of publications from around the world, including GQ, Marie Claire and Vogue.
Last year, Richard Maggiotto, Zinio’s CEO told PaidContent that Apple’s Newsstand hadn’t affected the company: “If you measure by revenue, it hasn’t had any impact. In fact it’s gone up. We’ve remained number one in 76 countries in the news category”.
Macworld Australia is currently being distributed through Zinio.