Perlego Raises $4.8M for Its ‘eBooks’

by megan rose in funding on 10th September 2018

About Perlego

Perlego has unlimited reading eBooks on many kinds of subjects such as technology, business, and politics etc., It also has the tagline that “all your textbooks in one simple place”, where users can get a lot of information for less than the price of a single book. This is trending and useful for the students in U.K. Most of the students are using and gaining the vast knowledge. If one student wants duel information they can get it easy and it will provide a wide range of books. The study material was designed as per the student’s convenient way. The study material was designed by experts, they know how to give the simple answers to the tough questions. So, the majority of the students are willing to read the books in Perlego.

Perlego recent news

Recently it has been named as “Spotify for textbooks” has closed $4.8 million in finding. Essentially the round is ADV, with assistance from being angel investors, including Simon Franks who is the co-founder of Lovefilm, the founder of Zoopla Alex Chesterman, and Peter Hinssen. Gauthier Van Malderen and Matthew Davis said that Perlego is providing unlimited access to a number of academic eBooks to the students and professionals. They funded for eBook titles for $13.88 a month. To be ready to do that, Perlego works with nearly 650 publishers, it includes Oxford Univerisity Press, Cengage Learning, Macmillan Higher Education, and Princeton University.It is the matter because Perlego has the quality of subject material provided by the experts and it most of the students are engaging for this site. Now it has a huge demand in the market.

The Publicists get 65 % of every subscription on a consumption base. CEO of Perlego and co-founder Van Malderen said to the leading daily that, when compared with 1970, the textbook prices have risen more than fifteen-fold. Coming to the U.K, on average, the university students spend on textbooks for a year $ 507.71
It is hardly increasing the price concerning higher education and the money strain on students, Again it is estimated to increase this year in the U.K. In fact, Perlego monetizes their content to a huge part of price-sensitive, otherwise, students would but their books from the other book market or they would download pirated copies.

Perlego benefits for the publishers

Perlego also provides publishers with complete data on the consumption of headlines. Van Malderen said, they are the true subscription model, only for $13.88 per month, the people will get extensive access to the genuine textbooks. Perlego does not produce a difficult leasing guide and publishers profit [through] data acquisition, decreased piracy, no cannibalization from olden books print sales.

Perlego’s Idea

Perlego will use the fresh funding to develop the team and support the business to develop across the U.K and Europe. Perlego also planning to invest in growing its product for professionals and students. Another interesting thing is, this month Perlego has joined Founders Factory as a share of its edtech accelerator programme, it was established by Holtzbrinck Macmillan, who is the world’s influencing academic publishers.

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