Bookrenter.com, a textbook rental website, raised $10 million in venture capital in its second round of funding, adding to the $6 million it raised it its first round.
BookRenter's main competitor, Chegg.com, has amassed $146 million. The two sites have the same premise but operate differently: Chegg leases books from its own warehouse, while BookRenter works with bookselling sites.
The New York Times has more on how BookRenter works:
College bookstores can use BookRenter to set up their own Web sites, branded with the college's name, and BookRenter does all the behind-the-scenes work. BookRenter and the bookstores share the revenue. Students can receive the books by mail or walk to the campus bookstore to pick them up.
So far the site has partnered with 75 colleges.
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