BookWorm News
Current Press Release:
BOOKWORM TO ALLEVIATE COLLEGE STUDENTS FINANCIAL BURDENS
Founders of Bookworm Seek to Put an End to High Book Prices
Los Angeles, CA, April 1, 2008 – Bookworm was founded a month ago with the objective of being the “Netflix” of books. The company is an online book retailer that promises to sell and rent books to college students at a low price. The company is also aware that book prices are constantly increasing and is determined to be the solution to the problem.
According to the CEO of Bookworm, each semester (or quarter), college students spend up to about $500 for books, but only about half of them ever use or read the material. When they sell their books back to the bookstores on campus at the end of the semester, they usually get only 20% of the original price in return. Even more disturbing is the fact that many college students do not sell their books back online where they can get up to 70% or more of the original price. In response, Bookworm plans to substitute that buying-and-returning process by renting and selling books to college students at a low price.
To further promote an environment-friendly world, Bookworm will carry mostly paperback books. This will allow the company to reduce its purchasing cost as well as to position itself as a green company. By doing so, it also hopes to target a broader segment of the market.
Bookworm will maintain its operations solely on-line while creating several campus-rep positions as a marketing strategy to promote the use of site. In addition, the company will locate its warehouses in Los Angeles and New York to facilitate shipping and the costs associated with shipping.
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If you’d like more information about Bookworm please call Sharon Lee at 310-395-3996. You can also reach her through email at sharonlee@bookworm.com