Online library operator Questia Media has secured $10 million in debt financing, from Technology Investment Capital, a newly formed finance company based in Greenwich, Conn.
The firm charges $19.95 a month, $45 a quarter or $120 a year for its service. In addition to having the full texts of 50,000 books available online, Questia has digitized 400,000 articles from journals and magazines
Since it was formed in 1998, Questia has raised a total of $155 million in financing and had as many as 300 people on the payroll. However, the firm was hit hard when the dot-com bubble burst and funding for technology-related companies dried up.
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