Akadémos, Inc., operator of online bookstores and marketplaces for educational institutions nationwide, today announced the first marketplace for textbook rentals. In addition to renting books directly from Akadémos, students will able to rent books from third party sellers in the Company’s marketplace, TextbookX.com.
Historically, students have been required to buy textbooks for hundreds of dollars at the beginning of a semester, only to receive pennies on the dollar through buyback programs. In 2002, Akadémos pioneered the textbook marketplace where students could buy their books directly from other students and professional sellers at fair market values. This new rental program marks another significant innovation that the Company has introduced for the purpose of saving students and parents money.
Patent Pending Rental Marketplace Program
With current textbook rental sites, the consumer rents a textbook unaware of its condition and market value. More often than not, companies rent textbooks for more than the cost to buy it on a marketplace. With TextbookX.com, students can see the condition of a book, its market value and decide whether or not they want to rent it. When users list their books for sale on TextbookX.com, designated titles will also be listed with a rental price associated with the book.
“By renting marketplace books which are already sold at deep discounts, we are able to further reduce the cost of getting textbooks into the hands of students,” said Brian Jacobs, the President & CEO of Akadémos.
The Akadémos model is the first to offer complete transparency in which the consumer will see not just the title of the book, but a detailed description of the specific copy of the book itself. With Akadémos, what you see is what you get.
“Buying or renting textbooks can be an arduous process as students struggle to find the lowest prices and best options to fit their needs,” said Jacobs. “We really took these challenges into consideration when developing our rental marketplace. It was important for us to deliver a completely transparent platform where customers could rest assured that they are not only receiving the best value, but also know exactly what they are getting.”
The Rental Marketplace can be found at www.textbookx.com/rental. The Akadémos rental model will be available both for their institutional accounts and on the consumer direct site.
The Company has a patent pending for its rental marketplace program.
About Akadémos
Akadémos provides online bookstores and marketplaces to educational institutions of all kinds across the US. Its turnkey school-branded services eliminate the operational costs of running a bookstore, reduce the costs of books to students, and provide a platform for digital distribution of course materials. The integrated peer-to-peer marketplace allows students access to millions of other buyers and sellers and to use financial aid for such purchases. Their rental marketplace allows students to not only select the exact textbook they want to rent, but to also save them even more on the cost of their textbooks.
The Akadémos virtual bookstore was created by an educator. That’s why it’s easier to use and more student-focused than other online solutions—remaining open, flexible and highly personal. Akadémos helps educational institutions and students easily adapt and thrive in this evolving market by providing a full-service virtual bookstore + marketplace for new and used textbooks.