RedShelf raises $4M to shake adult college text market
Walk by a bookstore and we can see $5.99 paperbacks along one wall and omg-how-much? college textbooks along a other. E-textbook association RedShelf currently announced it raised a $4 million Series B from Coniston Capital, with appearance from existent investors, including a National Association of College Stores.
The association tells me it will use a appropriation to expostulate new product expansion generally to a existent cloud-based e-reader platform. In addition, a association is expanding a expansion and calm partnership capabilities to serve grow a marketplace share.
Since a launch 4 years ago, RedShelf has seen extensive growth, boring a training village kicking and screaming into a stream millennium. The company’s idea is to give students entrance to march materials during a reduction eye-watering cost than today. To do that, a association partners with some-more than 500 educational bookstores, charity students calm during a 60 percent bonus compared to a paper versions of a books.
Tim Haitaian and Greg Fenton, co-founders of RedShelf
The talent turn here, of course, is that while a educational book publishers see 60 percent reduction income per book sold, a e-book marketplace effectively kills a resale market, that means that in year two, 3 and beyond, a subsequent era of students have to buy a books again.
With RedShelf’s model, a publishers make some-more moolah by selling books each year, rather than only when a books disintegrate from use or get nonetheless another book strike to inspire students to buy new books. In addition, students compensate less, always have a many new book of a book, e-books are a ruin of a lot lighter in your trek than half a tree’s value of pages and, well, since they’re digital, a books are easier to hunt or annotate.
In a end, everybody wins. It’s lovely to see that a edition attention continues to innovate in a face of change.
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