BookRenter.com Raises $6 Million From Storm and Adams
Chegg isn’t the only online textbook rental company that raised funding this week. BookRenter.com announced that they have raised $6 million in funding as part of the company’s first round. Investors included Storm Ventures and Adams Capital Management.
BookRenter’s growth was “300 percent year-over-year,” stimulated by the the back to school season. BookRenter is led by CEO Mehdi Maghsoodnia.
Currently BookRenter has 80,000 customers across 5,000 college campuses and is predicting that they will earn $10 million in revenue this year.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry