College text books are unjustly expensive and are used sporadically over the course of one semester. NextBook provides a flexible platform for students to make and save money by lending and borrowing unused textbooks from each other. Although the rise of tablet devices has put future of the physical book is in jeopardy, the $9B textbook industry is expected to keep producing books for the better part of the next two decades.
By making use of an already existing inventory, Nextbook does not tie up capital in textbooks or distribution centers, and depends on its users to create their own marketplaces. Nextbook allows lenders to post their textbooks to the site and set their own competitive rates. Borrowers can search for their desired titles, compare rates and rent the book for only the time they need it. NextBook has the potential to save borrowers up to 80% the cost of purchasing a text book, while simultaneously putting money back into the pockets of lenders. By addressing issues of cost and use simultaneously, Nextbook is a viable alternative to textbook rental companies who are anticipated to take over 30% of the market in the next 5 years