Indians-founded Ugenie, a books-focused social-shopping site using Web 2.0 tools and features, and primarily-based in Bangalore, has been bought by U.S.-based self-publishing site Lulu, reports Venturebeat, confirming rumors that came out earlier in the month. UGenie received $5 million from venture capital firms Blue Run Ventures and Sierra Ventures in 2006. The company was founded in May 2006 by two ex-Amazon (NSDQ: AMZN) engineers — Krishna Motukuri and Harish Abbot. The company also runs WeRead, a social book discovery site.
PluggdIn has summary of company’s changed startegy after the funding: It landed up in a trouble over the lawsuit by US