Textbooks are too expensive
Currently, college students spend over $1,000/year on textbooks alone. The average rate of increase of
textbooks has been 6%/year, far greater then the average rate of inflation. That means that textbooks will
continue to become more expensive for students, driving more students to purchase used textbooks, which
in turn causes publishers to issue new versions and charge more for them. Students need less expensive
books and want technology to enhance their eBooks at no cost.
Lack of learning functionality
The current e-textbook platforms have only simple functionality to mimic what students do on
traditional paper textbooks. Isn’t there new ways to make use of technology to make remembering,
learning, and studying better? BookNote believes there are.
Sharing with other classmates
The current e-textbook platforms have not addressed the best way to share information between
classmates, and with other students, for that matter. Even with the latest technology, students who is a class
still have to ask their fellow classmates for paper notes they’ve taken and the material covered by the
professor. Shouldn’t there be a better way by now?
Offer users multiple ways to save money
Of the average cost of a college textbook, about 40% goes to the publishers and authors, the other 60%
going to printing, retailers, and distributors. Is that the only way that eBooks are cheaper then printed
books? BookNote sees multiple streams of revenue while saving students money.
Convince publishers to go after the used textbook market by offering their older eBooks for a discount.
Students save as much money with older version of eBooks as they do with used textbooks and
publishers have another source of revenue and compete directly in the used textbook market.
Using patent pending technology, BookNote can embed targeted advertisements within eBooks in
exchange for users getting the eBooks at a reduced cost.
New functionality for enhanced eBooks
BookNote has built new patent-pending functionality that allows students to embed lectures, videos,
images, and audio as multimedia annotations to their eBooks. Students can even record lectures with
their tablet or smart phone and add that information to their eBook for later studying.
This user generated content can be added to an eBook, and the BookNote platform is smart enough
to then add it to any version of the eBook, so users with similar eBooks can view that user generated
content in their eBooks. Think of BookNote as the YouTube of content for eBooks!
Sharing with others on any platform
Another aspect of BookNote’s patent-pending technology is allowing users to share their multi-media
annotations with others within their trusted circle, or with other users who requests that content.
This type of social connecting and sharing is lacking in all other eBook platforms. The BookNote
platform can even recommend users to one another based on common interests in books, courses,
schools, and many other variables.