Report from the article, Open Textbook Publisher Flat World Knowledge Gets Random House Investment, in Campus Technology posted on April 8, 2011, by Dian Schaffhause states that Random House gave Flat World Knowledge a second investment this year. This is such great news to those of us who are interested in supplying our students with quality, accessible, and more affordable textbooks.
For those who are not aware of Flat World’s business model; it is an incredibly generous use of the Creative Commons open license; “they make money by selling physical books, e-books for devices such as the iPad and Kindle, audio books, print-it-yourself PDF downloads, and interactive study aids.”
“”This investment by Random House, the digital and print publisher of many of the world’s great authors and their books, sends a strong message to our customers about the quality of our authors’ work, and the long-term viability of our business model,” said Jeff Shelstad, Flat World’s CEO and co-founder. “This is great news for our company and for the future of higher education publishing.”
“Flat World Knowledge is a transformative company in higher-education publishing whose forward-thinking digital initiatives and implementation complement ours. We share a strong drive to make high-quality academically-oriented content widely available and affordable for students and educators, and we welcome the opportunity to invest in Flat World’s growth,” said Markus Dohle, Random House’s chairman and CEO.”