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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]
Textbook rentals aren't new. WalletPop has covered several third party companies such as Chegg.com, which rent textbooks to users at prices far below retail for college book rentals, but now ...
Phumbhra and Rashid rebranded, launching Chegg, Inc. in December 2007, with Rashid as CEO. After ending services unrelated to renting and purchasing textbooks, [5] the company adjusted its business model to reflect that of Netflix's rental-based model, concentrating on renting textbooks to students, [6] [9] and Chegg expanded to a national ...
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.
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.
Digital textbooks are a major component of technology-based education reform. They may serve as the texts for a traditional face-to-face class, an online course or degree, or massive open online courses (MOOCs). As with physical textbooks, digital textbooks can be either rented for a term or purchased for lifetime access.
Follett Corporation was founded in 1873 when Charles M. Barnes opened a used book store in his Wheaton, Illinois, home. [4] Three years later, Barnes moved his business, now named C. M. Barnes & Company, to Chicago where he opened a store at 23 LaSalle Street. Here, he sold new and used textbooks, stationery and school supplies. [5]
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