December 10, 2010
BookRenter Continues Rapid Growth and Industry-Leading Innovation in Drive to Make Education More Affordable for Millions of Students
Company Providing Textbook Rentals for 515 Bookstores, Including 11 in Canada; Partner Bookstores Now Reach 31% of Entire North American Collegiate Market
Students Saved More Than $21 Million By Renting Textbooks Through BookRenter This Fall; Company’s Increased Catalog of 5.5 Million Titles Will Enable Students to Save Even More This Spring
San Mateo, CA – December 10, 2010 -- BookRenter, the leading online textbook platform, today announced that the company is providing textbook rentals for 515 bookstores at schools serving more than 5.9 million students, representing 31% of the entire North American college market. Partners include 8 of the 10 largest American universities with school-managed bookstores. As college stores continued to standardize on the BookRenter platform for textbook rentals, students saved more than $21 million on textbooks when they returned to class last fall, and BookRenter is expecting them to save even more this spring.
BookRenter also announced its first international expansion into Canada in conjunction with its partnership with Follett, launching online textbook rental stores at 11 schools serving 318,000 students, including the University of British Columbia, University of Calgary, University of Manitoba, Queens University, and York University. Now, Canadian students at these and other schools can enjoy the same cost savings as American students by renting both U.S. and Canadian textbook editions online. Students pay for their rentals in Canadian currency and return their textbooks simply by dropping them off at their school’s bookstore at the end of the term. The number of Canadian bookstores standardizing on the BookRenter Platform is expected to double by the end of this year.
“We are extremely pleased to enable so many schools and partners to fulfill their mission and provide a higher level of service and lower educational costs for millions of students throughout the U.S.” said Mehdi Maghsoodnia, chief executive officer of BookRenter. “Now by extending our services into Canada, students attending many wonderful and prestigious universities across the border can also benefit from the unparalleled savings and convenience of textbook rentals.”
BookRenter remains the industry leader by continuously developing innovative services and partnerships that focus on providing the best experience for both users and partners. In December, BookRenter integrated additional textbook suppliers onto the BookRenter Platform to increase the textbook selection to 5.5 million titles, creating the largest textbook catalog available. Also this month, BookRenter launched its RapidReturns™ program at more than 100 campus stores. Using RapidReturns, customers can choose to return their textbooks to their local bookstore at the end of the term, eliminating the need to package and mail their textbooks. In addition to giving students another simple option to return their books, store partners benefit from the increased foot traffic at the end of the term.
BookRenter launched in 2008 and is dedicated to making education more affordable by allowing students to rent textbooks for up to 75% off the retail price. BookRenter's innovative pricing and operating systems provide students with the best price, highest quality books, and most flexible rental experience available today. Currently offering more than 5.5 million titles and serving thousands of students on over 5,000 campuses, BookRenter is one of the fastest growing startups in Silicon Valley, growing at over 725% each year. BookRenter, with offices in San Mateo, California, is a private company that is funded by prominent Silicon Valley venture capital firms. To learn more about how to use BookRenter for all of your textbook rental needs, please visit www.bookrenter.com.