After some fantastic beta data, our company Boundless has decided to go for it. Venrock led the round.
The company is offering free college text books to students.
When the team first pitched us, we were amazed that only about 11% of a textbook’s price goes to the author. The rest funds various logistics, inventory and marketing costs at the publisher and book store. Very inefficient.
Boundless has also piqued interest from some traditional publishers. Co-founder Ariel Diaz has a great post on that here.