NetLibrary

About NetLibrary

NetLibrary emerged in 1998 as a pioneering force in the electronic book market, co-founded by Tim Schiewe, a veteran of the technology and electronic publishing industry. The company, based in Boulder, Colorado, launched its online platform in March 1999 with the mission to integrate the accessibility of the web with the traditional library system. Its business model was centered on providing libraries with digital access to a comprehensive collection of reference, scholarly, and professional books.

The service allowed patrons of subscribing libraries to search, view, and check out 'eBooks' via an internet browser. This system replicated the traditional library lending model of one user per copy, but in a digital format. Revenue was generated by selling libraries access to these digital titles, with pricing options that included annual service fees or a one-time perpetual access fee, which was analogous to purchasing the physical book. The platform provided libraries with significant cost savings by reducing overhead associated with the storage, maintenance, and replacement of physical books. NetLibrary also offered detailed usage reports to help librarians manage and develop their collections more effectively.

NetLibrary's platform indexed every word in a digital book, enabling advanced search capabilities for users. Patrons could access the collection 24/7, check out books, and even place holds on titles that were currently in use by another patron. Initially focusing on academic and professional content, the company secured agreements with major publishers like Cambridge University Press, MIT Press, and McGraw Hill. After a period of rapid growth where it raised over $109 million, NetLibrary faced financial difficulties amidst challenging economic conditions and filed for Chapter 11 bankruptcy in late 2001. In January 2002, the nonprofit library organization OCLC (Online Computer Library Center) acquired NetLibrary's assets, a move intended to protect the investments made by thousands of libraries in its eBook collections. OCLC operated NetLibrary for several years, continuing to serve libraries globally. Subsequently, in March 2010, EBSCO Publishing acquired the NetLibrary division from OCLC, integrating its content into the EBSCOhost platform.