Akademos Secures $2.5 Million in Funding.Recognized Marketing and Technology Industry Veterans Scott Eagle and Bill Youstra Join Board of Directors NORWALK, Conn. -- Akademos, Inc., operator of online bookstores and marketplaces for educational institutions nationwide, today announced it has secured $2.5 million in venture funding from Kohlberg Ventures. Akademos will use the investment to meet rapidly growing demand for its online bookstore and marketplace services. Akademos' funding puts the Company in a position to swiftly address major customer pain points such as offering affordable class materials and textbooks. Akademos also announced that eHarmony marketing executive Scott Eagle and Silicon Valley technology veteran Bill Youstra have joined its Board of Directors. Eagle and Youstra will bring extensive experience, insight and counsel to Akademos, and will contribute significantly to the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategy and growth plans of the Company. Eagle is currently chief marketing officer of eHarmony, where he is responsible for all elements of the company's marketing, overseeing the company's brand development, customer acquisition and customer lifecycle. He has extensive experience managing major Fortune 500 brands and in building successful new companies. Eagle holds a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies in economics from the Wharton School, University of Pennsylvania (body, education) University of Pennsylvania - The home of ENIAC and Machiavelli. http://upenn.edu/. Address: Philadelphia, PA, USA. . Bill Youstra is a venture partner at Kohlberg Ventures and has helped startups in various consumer categories, including mobile, virtual worlds, e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. , search and media/marketing. Previously, Youstra was a product & content executive at AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , during which time the company grew from 500,000 customers to more than 20 million. He holds a Master of Business Administration and Master of Arts Master of Arts Noun a degree, usually postgraduate in a nonscientific subject, or a person holding this degree Noun 1. Master of Arts - a master's degree in arts and sciences Artium Magister, MA, AM in Education from Stanford, and degrees in Film, Computer Science and Marketing from the University of Maryland University of Maryland can refer to:
"The online bookstore landscape is rapidly changing as schools and students increasingly rely on technology to meet their needs," said Jim Kohlberg, managing Director, Kohlberg Ventures. "Academic institutions across the nation, as well as their students, need low cost and easy-to-use options to streamline the purchase of textbooks. Akademos brings an innovative and timely service to a growing market - one that addresses a very real need for virtually every college, university and student body." "I am thrilled thrill v. thrilled, thrill·ing, thrills v.tr. 1. To cause to feel a sudden intense sensation; excite greatly. 2. To give great pleasure to; delight. See Synonyms at enrapture. to have Kohlberg Ventures as an equity partner in our business, particularly during a time of rapid market transition from purchasing books in brick and mortar See bricks and mortar. stores to online providers," said Brian Jacobs, president and chief executive officer, Akademos. "This partnership, coupled with the expertise of Scott and Bill, will benefit Akademos significantly as we continue to grow our business." This funding news comes on the heels of Akademos' recent announcement of its partnership with Alibris - the Internet's premier independent marketplace for book, music, and movie sellers - to offer Akademos' client schools with far greater opportunities to buy new and used textbooks. About Kohlberg Ventures Kohlberg Ventures invests in early stage digital media, consumer product and clean tech companies. We invest with focused, decisive, energetic entrepreneurs with a crisp understanding of customer dynamics - what customers want, why they want it, and how they'll pay for it. Kohlberg Ventures draws on over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. experience of bringing patient capital to compelling business opportunities. www.kohlbergventures.com About Akademos Akademos provides online bookstores and marketplaces to educational institutions of all kinds across the US. Its turnkey See turnkey system. school-branded services eliminate the operational costs of running a bookstore, reduce the costs of books to students, and provide a platform for digital distribution of course materials. The integrated peer-to-peer marketplace allows students access to millions of other buyers and sellers and to use financial aid for such purchases. |
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