PostYourBook.com was created to stop the monopolistic practices of university bookstores towards college students.
Los Angeles, CA (PRWEB) May 22, 2013
Are Amazon, Half.com, and other college textbook websites in trouble? With PostYourBook.com on the rise, more and more college students are starting to buy and sell their textbooks to each other. The #1 fastest growing college textbook website, PostYourBook.com, was started back in 2010 and is now open to more than 250 colleges nationwide. According to co-founder, Phillip Kravtsov, "PostYourBook.com was created to stop the monopolistic practices of university bookstores towards college students."
The vision at PostYourBook is to eliminate lopsided buy-back programs, helping students sell their textbooks directly to other students in their school. The site is said to have grown tremendously over the course of the last year. According to founder Josh Hiekali, "Our website was started in Santa Monica College with approximately 1,000 users. After getting our first investment, hiring additional staff, and utilizing new marketing strategies, we now have over 250,000 students using the website each semester." Hiekali expects the numbers to grow to over 2 million users by 2014.
When asked how his company makes money, Hiekali said, "Our website is free to use. We do not charge students to post their books online, we do not charge buyers to search for books posted by students at their institution, and we do not charge students to connect with each other. We solely make money off advertising." According to Hiekali, user-traffic of over 1 million students can garner up to $10,000 a month. When asked about other possible revenue models, Hiekali revealed his vision for the future, which he hopes will provide students with an alternative to the likes of Amazon.com, Chegg.com, Half.com, and others.
"We figured that with over 300,000 books posted on our website, why not allow the students to search across schools, pay by card, and be able to ship their books to one another?" Heikali says. "This will increase the seller's chances of selling his book, while increasing the buyer's chances of finding a book." Giving its users a huge benefit, this new feature also provides PostYourBook.com with another source of revenue, by taking a percentage of each textbook sale that occurs via credit card. When asked what percentage of the sale PostYourBook intends to take, Hiekali mentioned, "Less than half of what Amazon and the other textbooks websites take." Should Amazon and other websites be concerned about a potential drop in their textbook sales? Hiekali says, "They should."
PostYourBook.com is a social networking website for college students in the same school to buy and sell their textbooks to each other. It was created by two college students to make textbooks more affordable for all students, while stopping the monopolistic practices of the university “buyback programs” and third party textbook retailers. The website is currently open to more than 250 major universities nationwide, and services over 250,000 students each semester. With the exponential growth patterns they've been experiencing, PostYourBook.com expects to have over 2 million users by 2014.
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