E-Textbook Start-Up RedShelf Snags Former Macmillan Exec

Related: Inside the New World of Higher Education Publishing at Digital Book World 2015

[Press Release]

RedShelf Cements Position in Digital Textbook Space and Hires Tom Scotty, former Macmillan Higher Ed Exec, as COO

New data from RedShelf reveals eTextbook habits of ~30K students nationwide

CHICAGO, October 7, 2014 – RedShelf, one of the fastest-growing distributors of eTextbooks in the U.S., has made significant recent strides in its mission to democratize access and affordability of eTextbooks. Originally started by two college kids from Detroit, CEO Greg Fenton and CFO Tim Haitaian, the company has grown to encompass over 115 independent college bookstore partners, more than 400 publisher partners and over 50,000 titles. RedShelf has also hired veteran publishing exec Tom Scotty as COO. Scotty was previously co-President at Macmillan Higher Education, where he worked for more than 17 years.

“RedShelf is well positioned to enhance the digital textbook market and accelerate the transition to digital content in higher ed. We help lower the cost to students and we help educational publishers and institutional bookstores realize new revenue streams,” said Tom Scotty, COO at RedShelf. “These are significant wins on all sides, and I look forward to helping drive RedShelf’s vision of changing the way we use and distribute eTextbooks.”

RedShelf has also released new data from a survey of 30,000 student users, revealing how users access and use eTextbooks and other digital learning tools:
• Mobile is not king, yet. 83 percent of RedShelf’s users access personal computers for content, versus 9 percent of mobile phones and 8 percent on tablets.
• The afternoon is the most popular read/study time. The legendary 1am cram session may be a myth – RedShelf found 11am-1pm was when most reading and studying took place.
• eTextbooks have a high satisfaction rate. Eight out of 10 students said they were likely to purchase digital again.
• Students use eTextbooks regularly, two to four times per week. 77 percent of students return to their eTextbooks within 24 hours, 84 percent within 48 hours, and 87 percent within 72 hours. The average reading session was 25 minutes.
• The top three reasons students go digital:
1. Less expensive.
2. Instant access/Portability.
3. Professor recommended.

“It’s clear that students want more flexible, digital options when picking up course textbooks for college classes, but the rest of the market is still catching up to that demand,” said Greg Fenton, CEO at RedShelf. “Through our direct approach with publishers and college bookstore partners, RedShelf has built a strong distribution channel that provides students a simple and affordable way to buy course materials.”

About RedShelf:
RedShelf is a leading supplier of digital learning materials, dedicated to providing paramount technology to the learning community in order to accelerate the transition to digital. In collaboration with strategic partners, publishers, institutional bookstores, and other content creators. RedShelf streamlines the discovery and distribution of eBooks and other digital course materials for today’s students. Utilizing a seamless browser-based eReader solution along with a powerful eCommerce engine, RedShelf provides easily accessible and cost-effective learning materials to learners everywhere. Please visit www.redshelf.com for additional company information.

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