September 28, 2010
BookRenter Names Gene Domecus Chief Financial Officer
Retail and Ecommerce Financial Expert Appointed to Manage Finances as Company Experiences Record Growth
Company Saves Students More Than $25 Million in Month of August Alone
San Mateo, CA September 28, 2010 -- BookRenter, the leading online textbook platform, today announced that Gene Domecus joined the company in the role of Chief Financial Officer (CFO). As CFO, Mr. Domecus assumes executive responsibility for financial planning and analysis, accounting, banking, investor relations, legal compliance and human resources as BookRenter continues its record growth. The company recently announced an explosive 725% year-over-year increase in textbook rental revenue from the growth of bookrenter.com and its textbook rental store platform.
Mr. Domecus brings more than 25 years of executive experience to BookRenter, with the last 12 years focused specifically on ecommerce and retail. He comes to BookRenter from Bella Pictures, an innovative national wedding photography brand, where he served as the company’s Chief Operating Officer and CFO. While at Bella, Mr. Domecus dramatically improved the company’s operating margins and led the company through multiple rounds of financing. Prior to joining Bella, he spent more than two decades in various executive positions at Macy’s, as a member of the Macys.com founding team and most recently as its Senior Vice President and CFO, where he oversaw annual online sales of nearly $800 million.
“Gene knows what it takes to scale a growing ecommerce business and shares our philosophy of driving rapid but smart growth,” said Mehdi Maghsoodnia, Chief Executive Officer of BookRenter. “As we continue to expand our platform and rental operations, I am confident that Gene will ensure that we manage our resources wisely while continuing to make education more affordable for millions of students.”“What is remarkable is how much BookRenter has accomplished in this market in such a short time,” said Mr. Domecus. “Everything BookRenter does is centered on investing wisely to provide the best product and service to its customers and partners. The company’s commitment to making education more affordable and accessible and its penchant to give back to the community make this a dream job. I’m incredibly excited about the opportunity ahead.”
Mr. Domecus received his BA with honors from University of the Pacific and holds an MBA with honors from Santa Clara University.
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 three million titles and serving thousands of students on over 5,000 U.S. 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.