Texture (app)
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Type of business | Private |
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Founded |
2010 (company) 2012 (app) |
Headquarters | Menlo Park, California |
Area served | United States, Canada |
Owner | Apple Inc. |
Key people | John Loughlin (CEO) |
Website |
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Commercial | Yes |
Current status | Active |
Native client(s) on | Android, iOS, Kindle Fire HD |
Texture (previously known as Next Issue) is a digital magazine app launched in 2012.[1] The service has a monthly subscription fee that gives readers access to over 200 magazines.[2] The service was established by Next Issue Media, a joint-venture between Condé Nast, Hearst Magazines, Meredith Corporation, News Corp, Rogers Media, and Time Inc..[3] Reading apps are available on iOS, Android and Kindle Fire HD.[4] Rogers Communications brought the service to Canada in late 2013.[5] The following year, a French version of the app was launched.[6]
In December 2014, Next Issue Media, which The Wall Street Journal described as a Netflix-like subscription service for magazines, secured $50 million in financing from Kohlberg Kravis Roberts.[7]
Next Issue rebranded itself as Texture and relaunched in September 2015.[8][9] That same year, Texture paid out $15 million in subscription revenue to publishers.[10]
On March 12, 2018, Apple Inc. announced it had signed an agreement to acquire Texture for an undisclosed sum.[11]
References
- ↑ Ha, Anthony (30 September 2015). "Netflix-Style Magazine App Next Issue Relaunches As Texture". TechCrunch. Retrieved 24 December 2017.
- ↑ "Texture Catalog". Retrieved 24 December 2017.
- ↑ "Rogers unveils Netflix-like all-in-one digital magazine subscription service". Financial Post. Retrieved 24 December 2017.
- ↑ Mlot, Stephanie (1 October 2015). "Netflix-Like Magazine App Next Issue Is Now 'Texture'". PC Magazine. Retrieved 24 December 2017.
- ↑ Bradshaw, James (30 September 2015). "Rogers revamps Next Issue app to cater to digital reading habits". The Globe and Mail. Retrieved 24 December 2017.
- ↑ "Rogers brings Next Issue magazine subscription app to Canada". CBC News. 26 September 2013. Retrieved 24 December 2017.
- ↑ Jeffrey A. Trachtenberg (2 December 2014). "Digital-Magazine Service Gets KKR Funding". The Wall Street Journal. Retrieved 3 May 2018.
- ↑ Dana Wollman (30 September 2015). "Next Issue, the Netflix for magazines, reborn with a fresh design and new name". Engadget.com. Retrieved 3 May 2018.
- ↑ Peter Kafka (30 September 2015). "Next Issue Media, the 'Hulu for Magazines' Tries a New Name and a New Idea - Make Your Own Magazine". Recode.com. Retrieved 3 May 2018.
- ↑ Keith J. Kelly (21 June 2016). "The 'Netflix of magazines' is about to get a lot bigger". The New York Post. Retrieved 3 May 2018.
- ↑ Apple buys Texture, a digital magazine subscription service CNBC, March 12, 2018