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CourseSmart was founded in 2007 by the higher education publishers Macmillan, Cengage Learning, John Wiley & Sons, McGraw-Hill Education, and Pearson. [1] CourseSmart offered access to e-textbooks via web browser from its foundation in 2007. The company allowed readers to rent e-books, rather than buying physical textbooks at an increased cost. [2]
Libby, owned by digital distributor OverDrive, is one of the most popular e-book rental apps. Readers can borrow e-books for free and download them or send them straight to their Kindle.
McGraw-Hill took full ownership of the venture in 1993. In 2004, The McGraw-Hill Companies sold its children's publishing unit to School Specialty. [15] In 2007, The McGraw-Hill Companies launched an online student study network, GradeGuru.com. This offering gave McGraw-Hill an opportunity to connect directly with its end users, the students.
Online retailing: Products: Online textbook rental eTextbooks Online learning Online tutoring Networking: Revenue: US$767 million (2022) Operating income: US$8.96 million (2022) Net income: US$267 million (2022) Total assets: US$2.47 billion (2022) Total equity: US$1.12 billion (2022) Employees: 2,071 (Dec 2022) Subsidiaries: Busuu Chegg Tutors ...
Many companies renting physical books also rent e-books. Since e-book rental distribution rights are totally different from physical books many smaller companies are not able to rent e-books from standard publishers like McGraw-Hill, Pearson, Prentice Hall, Cengage, etc due to the high licensing fees required for rental rights.
Users browse books online and have their choices home-delivered, rather than physically visiting a library to borrow a book. This e-commerce model is comparable to the video rental service provided Netflix. In 2009, online book rental was gaining popularity in India, with a number of websites offering free doorstep delivery for a small monthly fee.
BookRenter initially received financing from several venture capital firms in Silicon Valley. In 2009, it announced a Series A round of $6 million, [12] raised from Storm Ventures and Adams Capital Management, then Norwest Venture Partners led the Series B round of $10 million, which included participation from prior investors Storm Ventures and Adams Capital Management.
BookLender is an online book rental company, the first to offer flat rate rental-by-mail to customers in the United States. [1] [2] Established in 2000 and headquartered in Vienna, Virginia, it boasts an inventory of over 100,000 titles and more than 13,000 subscribers. [3] On June 8, 2007, the company announced that it had delivered its ...
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