Did you have a bestseller if you were approached? How big of a bestseller was it? Did you have an agent at the time? How did it work? No need to discuss contract terms -- unless you feel like PM'ing me and doing so, I would love to hear it
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TIA
As with the many of the other respondents here, I was approached by 47North. They contacted me by email to set up a conference call. I didn't then, and still don't, have an agent. I've had a number of best selling books in the sci-fi genre on Amazon and have sold hundreds of thousands of copies. When you have a big pie, everyone wants a slice. The trouble with publishers is that they want most of the pie. I declined 47North's offer for several reasons. First and foremost, the contract they offered licensed my books to them for the term of copyright. That means 70 years beyond my death. Perhaps they've changed that now, but back in 2012, they would have owned my books forever. Second, when you consider that Amazon has about 60% of the eBook market, the royalty rate they were offering was no better than that offered by trad publishers, which I have also turned down. Third, Barnes and Noble will probably never sell the books offered by an Amazon imprint in their store, unless it's on a case by case basis arranged through agreement between the store manager and an author. There are always exceptions to any rule, but in every case I've heard of where a B&N store has an Amazon imprint in stock, that was the case, and it was limited to one store or a small area. Fourth, Amazon imprint eBooks will never be available in any other eBook store. I make enough from my sales through stores other than Amazon to enjoy a comfortable living. Would Amazon, with their marketing capability on their own website, sell enough copies to make up for that? Yeah, that's probably a given, but I already have that extra income, so I would just be shifting the royalties, and I would be getting a fraction of the Net I get from those other stores.
The folks at 47North were very pleasant to talk with and negotiate with, but at the end of the day, the terms of the deal just weren't right for me. We all have to decide what we want out of Indie publishing, and if 47North is your goal, go for it.
Good luck. Keep writing and keep working to improve your skills. When your sales and ratings begin to reflect success, 47North will be in touch.