{{short description|Australian online bookstore}} {{Use dmy dates|date=January 2019}} {{Infobox website | name = Booktopia | logo = Booktopia-logo.jpg | logo_size = | screenshot = | caption = | company_type = | traded_as = | founded = 4 February 2004<br /> 14 August 2024 (current entity) | dissolved = | predecessor = | successor = | location = Strathfield South, New South Wales, Australia | country = | country_of_origin = Australia | locations = | area_served = | founder = Tony Nash<br>Simon Nash<br>Steve Traurig | chairman = | chairperson = | president = | key_people = | industry = Bookselling, book distributor, book publisher, online shopping | products = Books<br />DVDs<br />eBooks<br />Stationery<br />Magazines<br />Audiobooks<br />Calendars, diaries, journals | services = | revenue = $240 million (FY22) | operating_income = | international = Australia, New Zealand | net_income = | employees = 160 | divisions = | subsidiaries = Angus & Robertson<br>The Co-op Bookshop (online only) | url = {{URL|https://booktopia.com.au/}} | website_type = E-commerce | language = English | launched = 4 February 2004 | footnotes = }}
'''Booktopia Direct Pty Ltd''' is an Australian-owned, online bookseller and distributor headquartered in Sydney. The company also owns Angus & Robertson, a major Australian online bookseller, publisher, and printer. Founded in 2004, it has been one of the country’s leading online book retailers, with a broad catalogue spanning physical books, eBooks and audiobooks. Following a period of financial difficulty, the company briefly entered voluntary administration in 2024 and was subsequently acquired by the DigiDirect Group, continuing operations under new ownership.
== History == Booktopia was founded in 2004 by Tony Nash, his brother Simon Nash, and his brother-in-law Steve Traurig.<ref name=":1">{{Cite web |last=Carey |first=Alexis |date=2019-01-27 |title=How three Sydney blokes turned ailing sector on its head |url=https://www.news.com.au/finance/business/retail/how-three-sydney-blokes-turned-ailing-sector-on-its-head/news-story/4e2d764e2442033aee91865b8770a391 |website=News.com.au |access-date=7 July 2024 |archive-date=30 July 2021 |archive-url=https://web.archive.org/web/20210730225106/https://www.news.com.au/finance/business/retail/how-three-sydney-blokes-turned-ailing-sector-on-its-head/news-story/4e2d764e2442033aee91865b8770a391 |url-status=live }}</ref> By some accounts, Nash's sister Elana Traurig was also among the company's founders.<ref>{{Cite web |last=Morris |first=Cathy |date=June 23, 2014 |title=Australia's Amazon: How Booktopia grew from a $10 budget to a $40 million book business |url=https://www.dailytelegraph.com.au/newslocal/parramatta/australias-amazon-how-booktopia-grew-from-a-10-budget-to-a-40-million-book-business/news-story/30ac614569c4718bea29f84d1a2625cf |website=The Daily Telegraph}}</ref><ref>{{Cite web |last=Pitt |first=Helen |date=2021-12-16 |title=Booktopia CEO Tony Nash on the superpower that helped him succeed |url=https://www.smh.com.au/culture/books/booktopia-ceo-tony-nash-on-the-superpower-that-helped-him-succeed-20211212-p59gvx.html |access-date=2024-07-07 |website=Sydney Morning Herald|language=en}}</ref> They outsourced website management and order fulfillment until 2007, when they developed a new website and began renting a 500 square-meter warehouse in Artarmon.<ref name=":1" /> Two years later, they moved to a larger warehouse in Lane Cove.<ref>{{Cite web |last=Mitchell |first=Sue |date=2017-03-24 |title=Booktopia ready for the Amazon attack |url=https://www.afr.com/companies/retail/booktopia-ready-for-the-amazon-attack-20170320-gv1rro |url-status=live |archive-url=https://web.archive.org/web/20191225093154/https://www.afr.com/companies/retail/booktopia-ready-for-the-amazon-attack-20170320-gv1rro |archive-date=2019-12-25 |access-date=2024-07-06 |website=Australian Financial Review|language=en}}</ref> In 2013, Booktopia was voted as Australia's favourite bookshop in a poll by the Australian Booksellers' Association.<ref>{{Cite web |last=Steger |first=Jason |date=2013-08-16 |title=A one-off winner? |url=https://www.smh.com.au/entertainment/books/a-oneoff-winner-20130815-2rz2a.html |access-date=2024-07-07 |website=Sydney Morning Herald |language=en}}</ref>
Booktopia moved to a 10,000 square-meter warehouse in Lidcombe in 2014, where they invested $4 million into automation of order picking.<ref>{{Cite web |title=Warehouse Management Systems: Booktopia Writes a new Chapter - Adept Conveyors |url=https://adeptconveyor.com.au/warehouse-management-systems-booktopia-writes-a-new-chapter/16:81/ |access-date=2024-07-06 |website=adeptconveyor.com.au |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707043121/https://adeptconveyor.com.au/warehouse-management-systems-booktopia-writes-a-new-chapter/16:81/ |url-status=live }}</ref> By this point, they had a turnover of $54 million, and shipped nearly 3 million books a year.<ref>{{Cite web |last=White |first=Sue |date=2014-11-27 |title=Meet the boss: Tony Nash from Booktopia |url=https://www.smh.com.au/business/meet-the-boss-tony-nash-from-booktopia-20141127-11vand.html |access-date=2024-07-07 |website=The Sydney Morning Herald |language=en}}</ref> In August 2015, Booktopia bought online retailers Bookworld and Angus & Robertson from Penguin Random House.<ref>{{cite web |last=Keating |first=Eloise |date=2015-08-03 |title=Tome raider: Booktopia buys Bookworld and Angus & Robertson |url=https://www.smartcompany.com.au/growth/tome-raider-booktopia-buys-bookworld-and-angus-robertson/ |url-status=live |archive-url=https://web.archive.org/web/20150906160648/http://www.smartcompany.com.au/growth/47879-tome-raider-booktopia-buys-bookworld-and-angus-robertson.html |archive-date=2015-09-06 |accessdate=2015-10-28 |publisher=Smart Company}}</ref><ref>{{Cite web |last=Danckert |first=Sarah |date=2022-06-24 |title=(Book)dystopia: How Australia's biggest bookseller went from hero to villain |url=https://www.smh.com.au/business/companies/book-dystopia-how-australia-s-biggest-bookseller-went-from-hero-to-villain-20220622-p5avta.html |access-date=2024-07-07 |website=The Sydney Morning Herald |language=en |archive-date=30 August 2022 |archive-url=https://web.archive.org/web/20220830022742/https://www.smh.com.au/business/companies/book-dystopia-how-australia-s-biggest-bookseller-went-from-hero-to-villain-20220622-p5avta.html |url-status=live }}</ref> This acquisition reportedly gave Booktopia an 80% share of the online book sales market in Australia.<ref>{{Cite web |date=2015-08-03 |title=Booktopia to take on Amazon after buying rival Bookworld |url=https://www.afr.com/markets/equity-markets/booktopia-to-take-on-amazon-after-buying-rival-bookworld-20150803-giq9qg |access-date=2024-07-07 |website=Australian Financial Review |language=en |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707081256/https://www.afr.com/markets/equity-markets/booktopia-to-take-on-amazon-after-buying-rival-bookworld-20150803-giq9qg |url-status=live }}</ref>
In 2016, the company announced that it intended to list on the Australian Securities Exchange (ASX) with a $150 million initial public offering,<ref>{{Cite web |last=Mitchell |first=Sue |date=2016-03-29 |title=Booktopia pushing ahead with IPO plans despite Amazon threat |url=https://www.smh.com.au/business/companies/booktopia-pushing-ahead-with-ipo-plans-despite-amazon-threat-20160329-gnt8qv.html |access-date=2024-07-07 |website=Sydney Morning Herald |language=en |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707043117/https://www.smh.com.au/business/companies/booktopia-pushing-ahead-with-ipo-plans-despite-amazon-threat-20160329-gnt8qv.html |url-status=live }}</ref> but this float was abandoned due to investor concerns about Amazon's 2017 expansion into Australia affecting the business.<ref>{{Cite web |title=Booktopia prepares for the arrival of Amazon |url=https://www.sbs.com.au/news/small-business-secrets/article/booktopia-prepares-for-the-arrival-of-amazon/c8wh905ng |access-date=2024-07-06 |website=SBS World News |language=en |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707043117/https://www.sbs.com.au/news/small-business-secrets/article/booktopia-prepares-for-the-arrival-of-amazon/c8wh905ng |url-status=live }}</ref>
Four years later, Booktopia successfully listed on the ASX in December of 2020. Selling 18.8 million shares at an issue price of $2.30, the company raised $43.1 million on a market capitalisation of $357 million.<ref>{{Cite web |last= |date=2022-12-04 |title=Booktopia completes ASX listing; closes at 17% above issue price |url=https://www.booksandpublishing.com.au/articles/2020/12/04/160542/booktopia-completes-asx-listing-closes-at-17-above-issue-price/ |access-date=2022-08-30 |website=Books+Publishing |language=en-AU}}</ref><ref>{{Cite web |last= |date=2020-12-04 |title=Booktopia completes ASX listing; closes at 17% above issue price {{!}} Books+Publishing |url=https://www.booksandpublishing.com.au/articles/2020/12/04/160542/booktopia-completes-asx-listing-closes-at-17-above-issue-price/ |access-date=2024-07-07 |website=Books+Publishing |language=en-AU |archive-date=30 August 2022 |archive-url=https://web.archive.org/web/20220830025743/https://www.booksandpublishing.com.au/articles/2020/12/04/160542/booktopia-completes-asx-listing-closes-at-17-above-issue-price/ |url-status=live }}</ref> According to the prospectus issued before its IPO, Booktopia accounted for approximately 6% of Australian book sales by this point.<ref>{{Cite web |title=Booktopia Group Limited Prospectus |url=https://investors.booktopia.com.au/DownloadFile.axd?file=/Report/ComNews/20201202/02317245.pdf |website=Booktopia |access-date=7 July 2024 |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707043119/https://investors.booktopia.com.au/DownloadFile.axd?file=/Report/ComNews/20201202/02317245.pdf |url-status=live }}</ref>
In the same year, 2020, they bought university bookstore chain The Co-op Bookshop after that business went into administration, closing its 30 physical stores and moving its textbook sales business online.<ref>{{Cite web |last=Bonyhady |first=Nick |date=2020-01-30 |title=Co-op bookshop to disappear from university campuses |url=https://www.smh.com.au/national/co-op-bookshop-to-disappear-from-university-shelves-20200130-p53w68.html |access-date=2024-07-07 |website=Sydney Morning Herald |language=en |archive-date=8 March 2021 |archive-url=https://web.archive.org/web/20210308173440/https://www.smh.com.au/national/co-op-bookshop-to-disappear-from-university-shelves-20200130-p53w68.html |url-status=live }}</ref>
In 2020, Booktopia launched a joint venture with Rakuten Kobo to provide eBook and downloadable audiobooks through the Booktopia/Rakuten Kobo app.<ref>{{Cite web |last=Stark |first=Leigh :) |date=2021-11-02 |title=Kobo, Booktopia team for all-you-can-read eBooks |url=https://www.pickr.com.au/news/2021/kobo-booktopia-team-for-unlimited-ebook-service/ |access-date=2022-08-10 |website=Pickr |language=en-AU |archive-date=10 August 2022 |archive-url=https://web.archive.org/web/20220810170420/https://www.pickr.com.au/news/2021/kobo-booktopia-team-for-unlimited-ebook-service/ |url-status=live }}</ref>
CEO Tony Nash sold $6 million worth of his shares on 6 December 2021, shortly before the company announced it was anticipating a drop in earnings.<ref name=":0">{{Cite web |last=Danckert |first=Sarah |date=2022-06-24 |title=(Book)dystopia: How Australia's biggest bookseller went from hero to villain |url=https://www.smh.com.au/business/companies/book-dystopia-how-australia-s-biggest-bookseller-went-from-hero-to-villain-20220622-p5avta.html |access-date=2022-08-30 |website=The Sydney Morning Herald |language=en}}</ref> Amidst investor ire over the timing of this sale as well as plunging earnings, in May 2022 Nash announced that he would be stepping down from his role as CEO once a replacement had been found.<ref>{{Cite web |title=Booktopia chief executive Nash resigns after earnings plunge in third quarter |url=https://www.thebookseller.com/news/booktopia-chief-executive-nash-resigns-after-earnings-plunge-in-third-quarter |access-date=2022-08-30 |website=The Bookseller |language=En |archive-date=30 August 2022 |archive-url=https://web.archive.org/web/20220830022753/https://www.thebookseller.com/news/booktopia-chief-executive-nash-resigns-after-earnings-plunge-in-third-quarter |url-status=live }}</ref> However, in July, the company's board forced Nash to step down earlier than expected, appointing CFO Geoff Stalley as his interim replacement.<ref>{{Cite web |last=Danckert |first=Sarah |date=2022-07-14 |title=Booktopia co-founder Tony Nash ousted from CEO role |url=https://www.smh.com.au/business/companies/booktopia-co-founder-tony-nash-ousted-from-ceo-role-20220714-p5b1qv.html |access-date=2022-08-30 |website=The Sydney Morning Herald |language=en |archive-date=30 August 2022 |archive-url=https://web.archive.org/web/20220830022744/https://www.smh.com.au/business/companies/booktopia-co-founder-tony-nash-ousted-from-ceo-role-20220714-p5b1qv.html |url-status=live }}</ref> In August, Nash announced that he intended to spill the board, hoping to remove the chairman and other members.<ref>{{Cite web |last=LaFrenz |first=Carrie |date=2022-08-18 |title=Booktopia co-founder seeks to spill the board |url=https://www.afr.com/companies/retail/booktopia-co-founder-seeks-to-spill-the-board-20220818-p5bax6 |access-date=2022-08-30 |website=Australian Financial Review |language=en |archive-date=30 August 2022 |archive-url=https://web.archive.org/web/20220830022742/https://www.afr.com/companies/retail/booktopia-co-founder-seeks-to-spill-the-board-20220818-p5bax6 |url-status=live }}</ref> Later that month, the company was forced to pay $6 million by the Australian Competition & Consumer Commission on the grounds that it had misrepresented consumers' rights to refunds and returns.<ref>{{Cite web |last=Ogg |first=Matt |date=2022-08-29 |title=Booktopia agrees to fork out $6m in penalties over misleading returns claims to customers |url=https://www.businessnewsaustralia.com/articles/booktopia-to-fork-out--6m-in-penalties-over-misleading-returns-claims-to-customers.html |website=Business News Australia}}</ref>
From a high of $3 in August 2021, the company's share price steadily crashed to reach $0.17 by June 2022; Booktopia suggested this was due to a decline in business faced by online retailers after the lifting of pandemic restrictions.<ref name=":0" /> In June 2024, Booktopia requested a suspension on trading of its shares, which had by then fallen to $0.05.<ref>{{Cite web |last= |date=2024-07-03 |title=Booktopia appoints administrators |url=https://www.booksandpublishing.com.au/articles/2024/07/03/254791/booktopia-appoints-administrators/ |access-date=2024-07-03 |website=Books+Publishing |language=en-AU}}</ref> (It was later compulsorily delisted in August.<ref>{{cite web|url=https://www.intelligentinvestor.com.au/shares/asx-bkg/booktopia-group-limited/announcements|title= Booktopia Group Limited (ASX: BKG) - Announcements|access-date=2025-02-25|publisher=Intelligent Investor}}</ref>)
In June 2024, Booktopia announced it would make at least 50 employees redundant in addition to other cost-saving measures.<ref>{{Cite web |last=Rose |first=Derek |date=3 June 2024 |title=Bookseller Booktopia takes desperate steps to survive |url=https://www.thenewdaily.com.au/finance/consumer/2024/06/03/bookseller-booktopia-financial |access-date=6 June 2024 |website=The New Daily}}</ref> Leadership changes including the resignation of chief executive David Nenke were also announced.<ref>{{Cite web |last=Ignacio |first=Celene |date=2024-06-03 |title=Tony Nash is back at Booktopia as CEO steps down; mass redundancies loom |url=https://insideretail.com.au/business/tony-nash-is-back-at-booktopia-as-ceo-steps-down-mass-redundancies-loom-202406 |access-date=2024-06-06 |website=Inside Retail Australia |language=en-US}}</ref>
In July 2024, Booktopia entered voluntary administration<ref>{{Cite web |last=Yun |first=Jessica |date=2024-07-03 |title=Online bookseller Booktopia enters voluntary administration |url=https://www.smh.com.au/business/companies/online-bookseller-booktopia-enters-voluntary-administration-20240703-p5jqpb.html |access-date=2024-07-03 |website=Sydney Morning Herald |language=en |archive-date=3 July 2024 |archive-url=https://web.archive.org/web/20240703011937/https://www.smh.com.au/business/companies/online-bookseller-booktopia-enters-voluntary-administration-20240703-p5jqpb.html |url-status=live }}</ref> and temporarily shut down their website. The administrator disclosed that the company held debts totaling around $60 million.<ref>{{Cite news |date=2024-07-15 |title=Booktopia in $60 million debt as administrators investigate whether collapsed retailer traded while insolvent |url=https://www.abc.net.au/news/2024-07-15/booktopia-collapse-creditors-meeting-book-retailer-refunds/104097790 |access-date=2024-07-15 |work=ABC News |language=en-AU |archive-date=15 July 2024 |archive-url=https://web.archive.org/web/20240715084024/https://www.abc.net.au/news/2024-07-15/booktopia-collapse-creditors-meeting-book-retailer-refunds/104097790 |url-status=live }}</ref> Writing in ''The Conversation'', Australian academics Katya Johanson and Bronwyn Reddan cited competition from Amazon, increased operating costs, and a slump in book sales after the Covid boom as factors in the business's demise.<ref>{{Cite web |last1=Reddan |first1=Bronwyn |last2=Johanson |first2=Katya |date=2024-07-04 |title=Booktopia, Australia's biggest online bookseller, is poised for collapse. That doesn't mean bookshops are in trouble |url=http://theconversation.com/booktopia-australias-biggest-online-bookseller-is-poised-for-collapse-that-doesnt-mean-bookshops-are-in-trouble-233975 |access-date=2024-07-07 |website=The Conversation |language=en-US |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707081309/http://theconversation.com/booktopia-australias-biggest-online-bookseller-is-poised-for-collapse-that-doesnt-mean-bookshops-are-in-trouble-233975 |url-status=live }}</ref> Australian business publication iTnews also reported that costs from setting up the Strathfield warehouse had caused the business to sustain heavy losses in the lead-up to its collapse.<ref>{{Cite web |title=Booktopia in administration after troubled automated warehouse move |url=https://www.itnews.com.au/news/booktopia-in-administration-after-troubled-automated-warehouse-move-609381 |access-date=2024-07-07 |website=iTnews |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707064704/https://www.itnews.com.au/news/booktopia-in-administration-after-troubled-automated-warehouse-move-609381 |url-status=live }}</ref>
In August 2024, Booktopia was bought by the digiDirect Group<ref>{{Cite news |date=2024-08-19 |title=Booktopia to begin trading again after sale to online store digiDirect |url=https://www.abc.net.au/news/2024-08-19/booktopia-sold-to-online-electronics-store-digidirect/104241650 |access-date=2024-08-19 |work=ABC News |language=en-AU}}</ref> for an undisclosed amount, who immediately resumed trading following the deal. In 2025, the digiDirect Group also acquired James Bennett Pty Ltd, Australia's leading local library supplier.
As of April 2026, Booktopia sells well over 10,000 books a day across Australia and New Zealand.
== References == {{Reflist}}
== External links == *{{official|booktopia.com.au}}
Category:Bookshops of Australia Category:Book selling websites Category:Companies listed on the Australian Securities Exchange Category:Retail companies established in 2004 Category:Australian companies established in 2004 Category:2024 mergers and acquisitions