World Book kept growing for the next few years; Buffett was applauding the business growth when the revenue peaked at $31.8 million in 1991. However, since then, the company started losing business, and revenue plunged to $8.8 million in 1995. The business took a toll against newer ways of delivery of the product: CD-ROM and online offerings. Microsoft launched Encarta, a digital encyclopedia in 1993 that became popular in no time. World Book was facing stiff competition and challenges from new forms of competition. Buffett was optimistic about its business revamp. Management started to
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