Booktopia raising funds
Booktopia is exploring a new capital raise to fund acquisitions and expand internationally.
Nash said the company was looking at several businesses for potential acquisitions.
Mr Nash wants to see Booktopia’s sales more than double to over $1 billion in 2021. He has been looking for acquisitions in Australia and overseas.
In order to get to that $1 billion mark, he said that the publishing and distribution industry should go beyond just books.
Booktopia made several acquisitions and partnerships since its IPO. Some of these include acquiring a 25 per cent share in a new publishing company called Welbeck Publishing Group, as well as becoming the exclusive distributor for Zookal’s education technology platform.
Booktopia’s CEO Mick Nash wants to do more deals to help the company reach its $1 billion sales target.
The company’s goal is to capture the sales of its existing customers and then win over those who might be interested in buying from it.
Geoff Stalley joins the company as its chief financial officer. He most recently served as the head of M&A for Australia at Deloitte.
Geoff Nash has put in place a strategy to ensure that the company’s acquisitions are made according to the right criteria.
Booktopia is planning on expanding its operations in New Zealand in 12 to two years, though the company ruled out opening a bricks-and-mortar store.
Booktopia’s big competitor is giants like Amazon and Book Depository who have a strong online presence world wide. Save when you shop at Booktopia with a Booktopia discount code.
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