From Publisher’s Weekly:
Bilbary.com, the international e-bookstore launched by former Waterstones head Tom Coates, went live with a beta test this morning with 340,000 titles from about 2,300 publishers. Coates told PW he expects to add approximately 100,000 titles from agency publishers in the next two to three weeks. By the end of April the plan is to add a further 150,000 titles from publishers outside of the U.S., but for which the publishers hold world rights. The final phase of the early rollout will be to add between 60,000 to 80,000 “quality” self-published titles and a selection of out-of-print books.
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From the Bilbary FAQ:
Bilbary is only authorised to make our ebooks available in the United States so you can only purchase items from us if you are US based with a US registered credit or debit card.
This will be changing very soon once we have had authority to make our ebook library available to countries outside of the US.
See Also: Skoobe: the new word in ebook libraries (via The Guardian)
Includes mention of Bilbrary. According to this article Bilbary will offer a lending library.