Flat World Knowledge Secures $700,000 in Funding
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Shelstad, who serves as chief executive officer of Flat World Knowledge, says he was “pleased” with the amount of funding raised. “Our investors recognize that higher education is one of the few markets that actually benefits from recessionary economic environments,” he says. “Our unique business model of selling high-quality, low-cost, open-source textbooks is ideally suited to price-conscious students and educators.” The company says that educators also prefer the open-source approach employed by Flat World because it gives them more control over the classroom experience by enabling instructors to customize books to better suit their syllabus and teaching style.
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