Millie

Millie's Library (밀리의 서재), established in July 2016 and officially launched in October 2017, is a South Korean company that pioneered the subscription-based e-book service in the country. The platform provides subscribers with unlimited access to a vast collection of digital content. The company was founded by Seo Young-taek, who serves as the CEO.

The business operates on a subscription model, offering monthly plans for access to its extensive library. This includes not only e-books but also various other forms of content designed to cater to modern consumers. The service provides over 160,000 e-books and audiobooks from more than 1,400 publishers. To enhance the user experience, Millie's Library has developed innovative features like "chat books" (books formatted as chat conversations), AI Reading Farming for interactive discussions with an AI, and "Millie Pairing," which synchronizes e-books with audiobooks or AI-powered text-to-speech. The platform also produces original content to attract and retain subscribers.

In September 2021, Genie Music, a subsidiary of telecommunications giant KT Corporation, acquired a 38.6% stake in Millie's Library for 46.4 billion won, becoming its largest shareholder. This strategic acquisition was aimed at creating synergies between the two platforms, such as offering bundled subscription plans and adapting Millie's intellectual property into other media formats like audio dramas or video content. Following the acquisition, Millie's Library pursued an initial public offering (IPO) and was listed on the KOSDAQ market. By 2022, the company reported sales of 45.8 billion won and achieved profitability.

Keywords: e-book subscription, digital library, audiobook platform, South Korea, reading app, Millie's Library, 밀리의 서재, Seo Young-taek, Genie Music, KT Corporation, KOSDAQ, digital content, reading technology, AI reading companion, chat book, original content publishing, e-reading, mobile reading, Korean startup