Bad news for fans of the unique social reading app Readmill. According to TechCrunch, cloud storage giant Dropbox has acquired the company for around $8 million in stock and cash.

The report also pegged the purchase as an acqui-hire as the app’s co-founders will move to Dropbox’s headquarters in San Francisco. That also means that the app will probably be shut down at some point in the future.

If you’re interested in seeing how Readmill works, it can still be downloaded on the App Store now for free. It’s a universal app for the iPhone/iPod touch and iPad/iPad mini.

Originally arriving on the App Store in 2011, Readmill lets readers share their thoughts on the latest novel they completed.

Our own reader extraordinaire Aldrin Calmlim took an in-depth look at the app in a two-part edition of his Shelf Control column back in 2013. He examined how to get started with the service and the best way to conquer your e-reading pile.

It’s unknown what Dropbox will use the Readmill technology for, but the company continues to branch out into a number of different segments. The company made waves last year after scooping up the Mailbox email app.

For other news today, see: Photos Show Construction Progress At Apple’s Campus 2 Site, Microsoft Office For iPad Is Finally Here, and Disney Launches Star Wars: Assault Team, A CCG Set A Long Time Ago …