October 12, 2011

BookRenter Hires Senior Executive to Advance Institutional Offerings for Higher Education

Building on success with over 500 colleges, company expands focus on products that help schools make education more affordable and effective for their students

San Mateo, Ca – October 12, 2011 - BookRenter, the leading textbook platform, today announced that it hired Pete Rumpel, formerly of Rosetta Stone, to lead the expansion of the BookRenter platform for schools as their new Vice President of Sales. The platform, which has been adopted by more than 500 colleges and saved students more than $130 million on course materials, enables schools to offer their students better price, selection and local service on textbooks. Rumpel joins BookRenter to deepen the focus on equipping schools by working directly with college bookstores and administrators.

"Coming from Rosetta Stone, another education technology company, I see tremendous value in what BookRenter's platform has to offer," said Pete Rumpel. "The platform allows institutions to discover better ways to serve their students and gain market share back from online vendors. I look forward to playing a key role in building on the impressive momentum BookRenter has gained by teaming directly with schools to make college more affordable and accessible for their students."

Rumpel joins Bookrenter from Rosetta Stone, where he served as the senior vice president of Institutional Markets. Rumpel established the strategy, vision, and platform for execution to fuel 30 percent year-over-year growth and double the business in less than three years. Prior to joining Rosetta Stone, Rumpel was vice president and leader of SAP America’s business development. Prior to SAP he held global sales and marketing leadership positions with several leading companies including the Yankee Group, HayGroup and Gartner, Inc.

"We are pleased to welcome Pete to the BookRenter team as we work towards helping even more colleges regain their primacy as a service provider to their students," said Mehdi Maghsoodnia, CEO of BookRenter. "To do this effectively and successfully, schools need a technology partner that can deliver national scale and an world-class platform for interacting with their students. With Pete's deep experience in serving the needs of major institutions, he will play an integral role in developing our platform so that we become that ideal technology partner for even more schools across the country."

About BookRenter

BookRenter founded the first textbook rental service in 2006 with a mission to make education more affordable by allowing students to rent textbooks for up to 80% off the retail price. BookRenter helps students find the best price, highest quality books, and most flexible rental experience through their campus store or online at www.bookrenter.com. Offering more than 5.5 million titles and serving millions of students on over 5,000 campuses, BookRenter is one of the fastest growing startups in Silicon Valley. With offices in San Mateo, California, BookRenter 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.