The company stated it will be working with libraries, school and retailers to establish digital lending platforms in China. OverDrive CEO Steve Potash signed a an agreement with the China National Publications Import & Export Corporation (CNPIEC) while at the Beijing International Book Fair.
In addition, Overdrive hired a former YouTube executive to lead video partnerships.
Lee C. Milstein, who worked at Google, AOL and DivX, has been named Chief Strategy Officer.
“With Lee’s successes in building both revenue and user base in his previous positions, we are confident that his efforts will accelerate the significant growth that we’re experiencing,” said OverDrive CEO Steve Potash in a release. “In addition to working with our Executive team to direct forward-looking strategies and partnerships, Lee will lead our growing streaming video service for our global network of publishers, consumers and institutional partners.”
With the announcement comes the news that OverDrive will have a physical presence in New York City, showing the growth of the company.
“OverDrive is in a unique position, having quietly established itself as the market leader in the distribution of eBooks and audiobooks to libraries, schools and retailers, and making it possible for readers to borrow their favorite titles digitally,” said Milstein in a release. “I am eager to build on the tremendous innovation taking place here by expanding the channels for distribution and launching a premium streaming video service for our partners. The company has made significant investments in both infrastructure and global reach, and I am proud to help move the company to the next phase of its growth.”