Getting our Story in your Paper -“Students Cut College Costs by Trading Books on Internet Marketplace”

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Dear Marla,

Akademos, Inc. provides valueable services to college students and we would appreciate your help distributing this story to your students. Our web site, is the place to buy and sell new and used discounted textbooks, general reading and reference titles. We have over 600,000 titles in stock, at up to 90% off retail prices. Our eXchange marketplace lets students sell their used textbooks for up to 300% more for than typical bookstore buyback prices.

We also offer a $2,000 total awards essay writing, scholarship program each semester that is open to any enrolled student. Further, we are offering everyone visiting our site the chance to win $200 towards future textbook purchases on our site, with our Monthly Sweepstakes running now till December 2004. is also offering schools that do not presently offer online bookstores a fully outsourced solution.

Our Press Mention has been publicizes in many colleges across the nation and the schools believe that it offers their students a valuable service and outlet to traditional bookstores. I’ve attached our story in this email and would like the opportunity to talk further about our organization. Please contact me wth any questions.

Best regards,

Ji KimAkademos, Inc. Manager, Online MarketingPh: 203 866 0190 X14Fx: 203 866 [email protected]://

For Immediate Release September 5, 2003 Press Contact: Rosy NimroodyJi Kim(203) 866-0190

Students Cut College Costs by Trading Books on Internet Marketplace

Norwalk, CT (September 5, 2003)–Students on college campuses nationwide will no longer need to pay the average $300 price tag to cover their textbook needs this fall semester. Nor will they need to rely exclusively on traditional bookstores to buy their course material. Instead, with the advent of the Internet marketplace, they can now do it in a simple way-buy and sell books with each other. “In essence, students go to a national Internet book market and exchange textbooks directly with each other for the best price they can get,” said Brian Jacobs, founder of Akademos, Inc., a leading provider of educational resources on the Internet including the popular online marketplace In the offline world, used books are typically handled by three or more parties, including bookstores, wholesalers, and distributors, before students finally receive them. A former political philosophy professor from Cornell University, Jacobs launched the eXchange program two years ago as part of the company’s mission to promote the Internet’s democratizing effects on higher education. “The advanced technologies of the Internet marketplace have opened the possibilities of reducing transactions to their most direct and simple elements,” explains Jacobs. “That translates into a more efficient system and tremendous savings.” Once a semester comes to a close, students typically box their books in the basement or try to recoup some of their costs by selling them back to the campus bookstores at a fraction of their original cost. With the Internet marketplace, they can now recycle their books, many of which remain in almost-new condition, and use the proceeds from their sales to purchase textbooks for the following semester. “In the marketplace, sellers routinely earn more than three times the campus bookstore price by selling directly on the eXchange while buyers often pay less then half the retail price,” said Jacobs. “For certain books, savings of up to 90 percent are also common across the exchange–during these difficult economic times, this is a very valuable cushion to have.” Traditional buyback programs at campus bookstores offer 40-50 percent of the purchase price if the book will be reused and 0-30 percent if not. In comparison, a sample of books sold on the eXchange last month shows students garnering an average of more than $20 per book over the college bookstore buyback price–$12.46 at the campus bookstore versus $33.10 on the eXchange. It comes as no wonder then that registered triple digit growth in its exchange transactions this past year alone. With more than 135,000 titles and almost two million books in inventory, the eXchange offers a huge selection of used books that are otherwise very limited and difficult to find in regular retail stores. And while other Internet marketplaces also offer opportunities for book exchanges, is unique in that it is geared primarily towards the college market. “Students are more likely to find the books they need on our eXchange because they will essentially be trading with other students or teachers on campuses nationwide,” said Jacobs. “With an estimated 15 million students nationwide, the potential supply of eXchange books is enormous.” If they cannot find their book on the eXchange, they can purchase the book from the retail end of the operation which offers significantly discounted prices on new and used books. What also distinguishes the eXchange from other marketplaces is that its operations accommodate student needs. To create their on-line inventory, individuals list their books on the marketplace at a price of their choosing and according to the condition of the book. To help sellers select competitive prices, the eXchange offers specific information including pictures that would describe the condition of their books based on the degree of highlighting, underlining, and other factors. Unlike other marketplaces, also provides shipping labels to its sellers and keys important transactions. Buyers, in turn, can choose to purchase an eXchange book from an individual seller, a discounted new book, and a discounted used book in any combination on the website, all in one credit card transaction and with the confidence that Akademos, Inc. is acting as an agent to secure the satisfaction of both parties. To ensure the confidence of its customers, the eXchange does not pay sellers until three days after the buyer receives his order and has a chance to evaluate the condition of the books. The eXchange is the latest in a series of new programs that Akademos, Inc. has developed to specifically help traditional and non-traditional students meet their needs for course materials in the most economical way possible. The company expects to continue rolling out innovative programs in the future to accomplish these goals. Akademos, Inc. was founded in April 1999 by Brian Jacobs, Ph.D., who was then teaching at Cornell University in Ithaca, NY. Its mission is to use new distribution models and media to democratize and enhance opportunities for students in higher education. Akademos, Inc. operates a discount online bookstore, found on the Internet at, offering over 600,000 new and used textbooks, general books, and reference titles.