Pearson and McGraw Hill invest in Inkling

The New York Times reported that Inkling, an interactive textbook development company who make textbooks for the iPad, has received funding from two large textbook publishers, Pearson and McGraw Hill. From the article:

“The amount invested by Pearson and McGraw-Hill, among the biggest textbook publishers, was not disclosed. Inkling’s total investment to date, including money invested previously by several venture capital firms, is just under $10 million, according to a source who requested anonymity because of the confidential nature of the deals.

Inkling currently has 14 textbooks available from publishers like John Wiley & Sons and W.W. Norton. Pearson and McGraw-Hill have committed to add to that number. Pearson plans to make two dozen of its M.B.A. textbooks available along with a number of undergraduate arts and sciences books, marking the first time the company will sell books through Inkling. McGraw-Hill, which has a handful of books available on the service, will add its Top 100 college titles plus some medical and reference books.

In all, Inkling expects to have nearly 100 textbook available by the fall.”

http://bits.blogs.nytimes.com/2011/03/23/e-textbooks-get-a-boost-from-publishers/