Oak Hill Capital Partners recently purchased online bookseller Alibris.
By Michael Stillman
On May 8, 2006, online bookseller Alibris announced the company had been sold to venture capital firm Oak Hill Capital Partners. Naturally, such a major acquisition set off a chain of questions, concerns, and rumors in the bookselling world. We went to Alibris' Director of Direct Marketing and Sales to answer some of these questions surrounding the purchase. Before looking at the answers, here is a quick review of events.
On May 8, Alibris announced its sale to Oak Hill. Oak Hill is a private investment firm with a stated $4.6 billion in capital. We will assume this is plenty to take care of Alibris' financial needs with money left over for other ventures. Among the companies Oak Hill is already invested in are Washington Mutual, The Container Store, Oreck, TravelCenters of America, and Proquest. The latter raised a few eyebrows because they are involved in the on-demand printing of out-of-print material. The lead investor in Oak Hill is Robert Bass, son of a legendary Texas oilman. However, Bass' fortune was not all a gift, but has grown through the years based on his own shrewd investing. Robert Bass currently shows up as number 200 on Forbes Magazine's list of the wealthiest people in the world, with an estimated worth of $3.4 billion. Certainly Mr. Bass has made a lot of wise investments, more good than bad, a most hopeful and promising sign for Alibris.
One of the most commonly heard rumors was that Oak Hill was some sort of a creditor, effectively foreclosing on Alibris. Alibris has long had outside capital invested, and when its plans to go public two years ago fell through, it turned to the markets for additional capital. However, Alibris' Director of Direct Marketing and Sales, A.J. Kohn, explained that Oak Hill was not one of those earlier investors. This was a new investment for them. "They had no prior financial involvement with Alibris as investors or creditors," Kohn explained. "What they do have is a strong view about the growth potential of our company." He went on to say, "Oak Hill invested in Alibris because we are profitable and have opportunities to use additional capital to help us grow overseas, to extend into movies and music, and to provide additional services for our sellers and customers."
While Alibris does plan to expand the movie and music part of its business, this does not signal a wholesale shift in its selling strategy. The intention is to stick with books and these other related businesses, rather than follow Amazon in selling all kinds of merchandise. "Our focus remains on connecting sellers with buyers, and on media products," Kohn says. "We have no plans to expand into lawn mowers!"
Kohn believes Alibris' focus on connecting buyers and sellers of "media products" will accrue to the benefit of Alibris' sellers. He predicts, "The upshot of this will be more sales for our sellers as we attract additional customers. We expect to attract customers by doing more of the kind of marketing we do today: search engine marketing, affiliate programs, and targeted email. We will also add business partners and library customers, which increase sales for our sellers."
Forum Auctions Fine Books, Manuscripts and Works on Paper 29th January 2026
Forum, Jan. 29: Plato. [Apanta ta tou Platonos. Omnia Platonis opera], 2 parts in 2 vol., editio princeps of Plato's works in the original Greek, Venice, House of Aldus, 1513. £8,000-12,000
Forum, Jan. 29: Book of Hours, Use of Rome, In Latin, illuminated manuscript on vellum, [Southern Netherlands (probably Bruges), c.1460]. £6,000-8,000
Forum, Jan. 29: Correspondence and documents by or addressed to the first four Viscounts Molesworth and members of their families, letters and manuscripts, 1690-1783. £10,000-15,000
Forum Auctions Fine Books, Manuscripts and Works on Paper 29th January 2026
Forum, Jan. 29: Shakespeare (William). The Dramatic Works, 9 vol., John and Josiah Boydell, 1802. £5,000-7,000
Forum, Jan. 29: Joyce (James). Ulysses, first edition, one of 750 copies on handmade paper, Paris, Shakespeare and Company, 1922 £8,000-12,000
Forum, Jan. 29: Powell (Anthony). [A Dance to the Music of Time], 12 vol., first editions, each with a signed presentation inscription from the author to Osbert Lancaster, 1951-75. £6,000-8,000
Forum Auctions Fine Books, Manuscripts and Works on Paper 29th January 2026
Forum, Jan. 29: Chaucer (Geoffrey). Troilus and Criseyde, one of 225 copies on handmade paper, wood-engravings by Eric Gill, Waltham St.Lawrence, 1927. £3,000-4,000
Forum, Jan. 29: Borges (Jorge Luis). Luna de Enfrente, first edition, one of 300 copies, presentation copy signed by the author to Leopoldo Marechal, Buenos Aires, Editorial Proa, 1925. £3,000-4,000
Forum, Jan. 29: Nolli (Giovanni Battista). Nuova Pianta di Roma, Rome, 1748. £6,000-8,000
Forum Auctions Fine Books, Manuscripts and Works on Paper 29th January 2026
Forum, Jan. 29: Roberts (David). The Holy Land, Syria, Idumea, Arabia, Egypt, & Nubia, 3 vol., first edition, 1842-49. £15,000-20,000
Forum, Jan. 29: Blacker (William). Catechism of Fly Making, Angling and Dyeing, Published by the author, 1843. £3,000-4,000
Forum, Jan. 29: Herschel (Sir John F. W.) Collection of 69 offprints, extracts and separate publications by Herschel, bound for his son, William James Herschel, 3 vol., [1813-50]. £15,000-20,000
Sotheby’s Fine Manuscript and Printed Americana 27 January 2026
Sotheby’s, Jan. 27: An extraordinary pair of books from George Washington’s field library, marking the conjunction of Robert Rogers, George Washington, and Henry Knox. $1,200,000 to $1,800,000.
Sotheby’s, Jan. 27: An extraordinary letter marking the conjunction of George Washington, the Marquis de Lafayette, and Benjamin Franklin. $1,000,000 to $1,500,000.
Sotheby’s, Jan. 27: Virginia House of Delegates. The genesis of the Declaration of Independence and the Bill of Rights. $350,000 to $500,000.
Sotheby’s Fine Manuscript and Printed Americana 27 January 2026
Sotheby’s, Jan. 27: (Gettysburg). “Genl. Doubleday has taken charge of the battle”: Autograph witness to the first day of the Battle of Gettysburg, illustrated by fourteen maps and plans. $200,000 to $300,000.
Sotheby’s, Jan. 27: President Lincoln thanks a schoolboy on behalf of "all the children of the nation for his efforts to ensure "that this war shall be successful, and the Union be maintained and perpetuated." $200,000 to $300,000.
Sotheby’s, Jan. 27: [World War II]. An archive of maps and files documenting the allied campaign in Europe, from the early stages of planning for D-Day and Operation Overlord, to Germany’s surrender. $200,000 to $300,000.
![<b>Forum, Jan. 29:</b> Plato. [<i>Apanta ta tou Platonos. Omnia Platonis opera</i>], 2 parts in 2 vol., editio princeps of Plato's works in the original Greek, Venice, House of Aldus, 1513. £8,000-12,000](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/df7dd9ac-f0d0-4cb3-a44d-2731758530e4.png "<b>Forum, Jan. 29:</b> Plato. [<i>Apanta ta tou Platonos. Omnia Platonis opera</i>], 2 parts in 2 vol., editio princeps of Plato's works in the original Greek, Venice, House of Aldus, 1513. £8,000-12,000")
![<b>Forum, Jan. 29:</b> Book of Hours, Use of Rome, In Latin, illuminated manuscript on vellum, [Southern Netherlands (probably Bruges), c.1460]. £6,000-8,000](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/c40bad29-8cb5-4347-a0fd-5361d39e84a5.png "<b>Forum, Jan. 29:</b> Book of Hours, Use of Rome, In Latin, illuminated manuscript on vellum, [Southern Netherlands (probably Bruges), c.1460]. £6,000-8,000")
![<b>Forum, Jan. 29:</b> Powell (Anthony). [<i>A Dance to the Music of Time</i>], 12 vol., first editions, each with a signed presentation inscription from the author to Osbert Lancaster, 1951-75. £6,000-8,000](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/b7fdee12-4803-4d32-9330-a5729091cb92.png "<b>Forum, Jan. 29:</b> Powell (Anthony). [<i>A Dance to the Music of Time</i>], 12 vol., first editions, each with a signed presentation inscription from the author to Osbert Lancaster, 1951-75. £6,000-8,000")
![<b>Forum, Jan. 29:</b> Herschel (Sir John F. W.) Collection of 69 offprints, extracts and separate publications by Herschel, bound for his son, William James Herschel, 3 vol., [1813-50]. £15,000-20,000](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/a06cc0dd-7619-45e9-b155-5ad75ed7b2e5.png "<b>Forum, Jan. 29:</b> Herschel (Sir John F. W.) Collection of 69 offprints, extracts and separate publications by Herschel, bound for his son, William James Herschel, 3 vol., [1813-50]. £15,000-20,000")
![<b>Sotheby’s, Jan. 27:</b> [World War II]. An archive of maps and files documenting the allied campaign in Europe, from the early stages of planning for D-Day and Operation Overlord, to Germany’s surrender. $200,000 to $300,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/9d2762bc-9f26-47ef-96de-1c28070e19f6.png "<b>Sotheby’s, Jan. 27:</b> [World War II]. An archive of maps and files documenting the allied campaign in Europe, from the early stages of planning for D-Day and Operation Overlord, to Germany’s surrender. $200,000 to $300,000.")