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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.
Based on the rental method the book rental companies can be categorized into two subgroups: Book rental companies having a subscription-based models where a monthly or periodic subscription fee is charged and members can rent a number of books based on the subscription. Book rental companies taking a fraction of book cost as rent.
By 2011, the online store was selling textbooks at a discount and renting texts, allowing searching by textbook ISBN, author, and title, selecting a 2, 3, or 6 month (semester) rental period, and shipping options. Once the semester is over, books are returned with a free return shipping label, [5] or in person at 11 depots. [6]
Subscribers add books to their online reading list, called a Rental Pool. When the subscriber returned finished books, the next books in the Rental Pool would ship out. The similarity to Netflix 's business model led to the website informally being called the 'Netflix for books.' [ 3 ] BookSwim's plans began at $9.99 per month and included only ...
Statistics for the publishing industry are also promising. India is the world's third-largest market for English books, [2] and its entire book market — in English, as well as regional languages — is estimated to generate Rs. 10,000 crore annually. [3] The online book market in India is expected to grow at 30–35% annually for the next ...
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