The buzz on the tech beat was that information giant Elsevier was nearing a buyout of the startup Mendeley, which has an open platform for scientists to share information, TechCrunch reported. The online pub cited sources that place the price tag for Mendeley at around $100 million.
That would be impressive. As the news outlet reports, Mendeley launched in 2008 to offer free access to scientific information. Thus far that mission has resulted in an impressive database of 340 million documents from more than 2 million members. And some 260 apps have been built on Mendeley's open platform.
Amsterdam-based Elsevier publishes a ton of content in the sciences, but much of that content exists behind pay walls. However, the publishing giant appears to grasp the push for open access to information among scientists and academics, who blame pricey subscriptions for impeding progress in their fields and limiting the availability of important data.
Neither Mendeley nor Elsevier would comment to TechCrunch about the rumored buyout talks, but the outlet reports that a deal could emerge before the end of February. This could be good news for the startup's backers, including Access Industries, Andurance Ventures, Passion Capital and former Thomson Reuters CEO Tom Glocer.
- check out the buzz from TechCrunch