Textbook Revolt aims to revolutionize the college textbook market by empowering students to save money by creating a trusted network for textbook exchanges.
The cost of college textbooks has doubled the rate of inflation over the past 20 years. Students spend over $4.9 billion on college textbooks each year with few alternatives to help them save money. The average yearly cost of textbooks has increased from $898 in 2005 to over $1,000 in 2006. Every year television reports and newspaper columns have stories about the rising prices of textbooks and the lack of options available for the students, but there still has been very little progress in this industry.
Textbook Revolt began addressing the problem of high priced textbooks by experimenting with a completely free college textbook exchange named Socialbib. The site has received many accolades from students who were previously dissatisfied with the options available to them. As a result, students from over 1,300 schools nationwide joined Socialbib and posted over $1,000,000 in college textbooks.
Research proves that although online retailers such as Ebay and Amazon have added competition they have not significantly changed the landscape of the textbook industry. Demand is rapidly increasing as the overall cost of education continues to rise. It is evident that this problem will continue to exist as long as students are not presented with compelling alternatives. The knowledge gained though Socialbib gives Textbook Revolt a competitive advantage to be the first service of its kind to market. The demand from students when combined with the business opportunities create a “perfect storm” for Textbook Revolt.