Valore and Boundless team up to modernize the textbook landscape
Valore announced today the acquisition of Boundless, a digital publisher and platform that offers millions of students and teachers customizable textbooks, teaching resources, and learning tools. Together, Valore and Boundless are uniquely positioned to eliminate the inefficiencies that exist throughout the textbook ecosystem and to be an agent of change in how college textbooks are created, acquired and consumed.
"Textbooks and course materials are the biggest expense that students face after tuition and room and board, and inefficiencies in the textbook market continue to drive that expense higher and higher," said Kevin Walker, CEO, Valore. "We are excited about the product, platform and content Boundless has built. And we are looking forward to working with their strong team to continue empowering students and professors with choices for creating and consuming content that will result in higher quality education resources at a lower cost."
Founded in 2011, Boundless has improved education for millions of students. With content created by a community of educators, who work side-by-side with subject-matter experts, Boundless provides ready-to-use and customizable online content, study materials, and assessment items to make teaching more efficient and learning more effective. The company reaches more than four million students and educators each month.
"We share the same values as Valore and the belief that universal access to quality and affordable education is a right, not a privilege," said Ariel Diaz, founder and CEO, Boundless. "At Boundless, educators have access to thousands of slides, quizzes, readings and textbooks that make teaching more efficient and more effective, while keeping the cost of course materials very low for the student."
Valore operates the online textbook marketplace ValoreBooks, in addition to SimpleTuition, a private student loan comparison engine. Together, the companies reach over 15 million students, hundreds of thousands of educators, tens of thousands of merchants, and hundreds of bookstores and schools to help make education more affordable. Valore and Boundless are on track to do over $100MM in revenue in 2015.
"The textbook market is in the midst of the biggest transition ever. The power of technology, the Internet, and quality open content will create a new world of opportunities that will significantly disrupt the status quo. In the next 10 years, we'll see more change in education than in the previous 200 years," added Diaz.
Boundless will continue to operate under its own brand within Valore and Ariel Diaz will take on the role of Chief Digital Officer, in addition to continuing to lead Boundless.
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