Welcome!

News Feed Item

Has the Redbox of Textbooks Finally Arrived?

Startup Packback's rental service provides bold, affordable eTextbook option

CHICAGO and PASADENA, Calif., March 25, 2014 /PRNewswire-USNewswire/ -- Today's students face many financial barriers to success in higher education- skyrocketing tuition, inflated textbook costs, and debilitating student debt to name a few.  Two tenacious entrepreneurs, Mike Shannon and Kasey Gandham, have developed an ingenious way of addressing these problems.

Packback recently took their startup textbook rental service to the national level, braving the rough waters of ABC's "Shark Tank" before a televised audience of more than 8 million viewers.  Last Friday, Shannon and Gandham successfully pitched their grassroots, short-term textbook rental model to the "Sharks" winning over American investor Mark Cuban and connecting with countless new students.

"As a result of the episode, we've had literally thousands of new visitors and users signing up for the Packback service," Gandham stated on Sunday.  "We have also seen a huge influx of Campus Ambassador applications - students motivated to launch Packback on their respective campuses by a shared passion for promoting affordable education."

On the heels of their successful venture into the turbulent waters of "Shark Tank," philanthropist Dr. Gary Michelson's 20 Million Minds Foundation (20MM), which is always in search of pioneering, cost-saving measures for students, has partnered with Packback to help reduce financial burdens while ensuring access to the textbooks students need to be successful in their courses. 20MM will also be working with Packback to deliver open textbooks to students courtesy of OpenStax College, an open textbook initiative out of Rice University that Dr. Michelson helped fund.

Launched last year, Packback aims to bridge the growing gap between online textbooks and the publishing industry. Their platform allows students to rent digital textbooks for $5 or less a day. "We provide the bridge to this next-wave digital learning future," said Shannon in a recent interview with the Chicago Tribune. "To get that demand to come organically from the students, we're...lowering the barrier with the pricing point first."

"We have a fascinating marriage of technology and grassroots activism here that is a solid solution to helping students break through the prohibitive cost of higher education while still providing an entire industry an option to remain relevant," said Dean Florez, President & CEO of The Michelson 20 Million Minds Foundation.

Packback's catalog of $3 to $5 digital textbook rentals spans 2,500+ titles from several major participating publishers and is increasing every month as their network of publishers, partners, and students continue to grow.

About Packback
Packback is a Chicago-based education-technology startup redefining the textbook industry for students, publishers, and professors. Founded by students while backed by notable angel investors in education and digital-media, Packback's vision is to create textbook solutions that work for students today while laying a strong foundation for a digital future.
www.PackbackBooks.com  |  @PackbackBooks  |  https://www.facebook.com/packbackbooks

About 20MM
Dr. Gary Michelson's 20 Million Minds Foundation (20MM) is a non-profit organization dedicated to bringing higher education into the digital age through public and private partnerships that increase access, affordability, and student success. 20MM and its initiatives are made possible by the generous support of Dr. Gary Michelson and his wife, Alya Michelson. Visit www.20MM.org, follow us @20MillionMinds, and subscribe to our videos on the Michelson 20 Million Minds' YouTube Channel

Tags: higher education,  higher learning, higher ed, textbooks, online textbooks, ebooks, etextbooks, Packback, Packbackbooks, textbook rentals, textbook buyback, textbook rental program, The Michelson 20 Million Minds Foundation, Michelson's 20 Million Minds, Michelson's 20MM, 20 Million Minds, 20MM, Twenty Million Minds Foundation, Dr. Gary Michelson, Alya Michelson, Dean Florez, student savings, digital textbooks, student loans, textbook affordability, textbook publishers, textbook sales.  

Contact: Reid Milburn, 916-969-6171

SOURCE The 20 Million Minds Foundation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...