Bertelsmann Digital Media Investments and Bessemer Venture Partners Invest $15 Million in Flat World Knowledge
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Flat%20World%20Knowledge<%2Fa>,%20the%20largest%20publisher%20of%20free%20and%20open%20college%20textbooks%20for%20students%20worldwide,%20today%20announced%20it%20has%20secured%20$15%20million%20in%20Series%20B%20funding%20led%20by%20Bertelsmann%20Digital%20Media%20Investments<%2Fa>%20(BDMI),%20a%20wholly%20owned%20subsidiary%20of%20Bertelsmann%20AG<%2Fa>,%20a%20leading%20international%20media%20company,%20and%20Bessemer%20Venture%20Partners<%2Fa>,%20a%20top%20global%20investment%20firm.%0D%0A%0D%0Ahttps%3A%2F%2Fwww.bookbusinessmag.com%2Farticle%2Fbertelsmann-bessemer-invest-15-million-flat-world-knowledge%2F" target="_blank" class="email" data-post-id="5723" type="icon_link">
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With students spending an average of $1,137 in 2010-11 for textbooks and supplies, according to The College Board, professors, administrators and policy-makers are looking to educational entrepreneurs like Flat World Knowledge for innovative ways to solve the textbook affordability crisis.
"We're bringing textbook publishing into the 21st century," said Jeff Shelstad, Flat World Knowledge CEO and co-founder. "With our new partners, we are accelerating our growth to meet the tremendous demand for world-class educational content that's free of the constraints of conventional textbooks."
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