Educational Software - Tuesday, March 24, 2009
Flat World Knowledge Raises $8M For Open Source Text Books
Having just put the alarm:clock wife through school, we are big fans of any startup that reduces the costs of text books and Flat World Knowledge of Nyack, NY claims to do just that with its open-source textbooks model. The startup has just raised $8M in Series A from Greenhill SAVP, High Peaks Venture Partners and Valhalla Partners.
Flat World makes its books available as free Web-hosted textbooks. It earns revenue and pays authors royalties by providing students with options to purchase print-on-demand soft cover textbooks, audio textbooks, and self-print individual chapters.
The startup is led by co-founder and CEO Jeff Shelstad who was VP Editorial Director at Pearson Education and before that was Publisher at McGraw-Hill Higher Education .
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