Business in the Burbs

Online textbook company in Nyack announces $8 million investment

March

Three venture capital firms agreed to invest $8 million in Flat World Knowledge, a Nyack-based company that offers college textbooks over the Internet. The investors include Valhalla Partners of Vienna, Va., Greenhill SAVP of New York City and High Peaks Venture Partners of Troy.

Executives at two-year-old privately held Flat World Knowledge have said the concept of online books is making inroads as college professors and students look for alternatives to the rising costs of traditional textbooks.

Flat World Knowledge, founded by former textbook industry executives, said that it recently completed successful tests of its online books at more than 40 colleges and universities. The company added that it has 22 business and economics textbooks in its pipeline.

This entry was posted on Tuesday, March 24th, 2009 at 2:43 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
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