The digital textbook retailer PaperC has recently announced that it has secured new financing from Axel Schmiegelow, a venture capitalist. The exact terms offered and the actual size of the investment were not disclosed by the company. There was alo no mention of how the funds would be used.
PaperC has a rather unusual digital textbook platform because it doesn’t sell textbooks in the same manner as other companies. To be exact, it doesn’t only sell complete textbooks. Instead, PaperC sells the textbooks by the page or chapter, with each page costing about 10 cents.
The textbooks are free to read online, but if you need a copy then you have to pay. This is a type of business model that is similar to the way some reference libraries have been charging for content, only PaperC has expanded the idea beyond reference titles to include more than 14 thousand textbooks from quite a few publishers.
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