Better World Books
 |
|
| Private B Corporation |
|
| Industry | Online bookseller |
| Founded | 2002 |
| Founder | Christopher “Kreece” Fuchs Xavier Helgesen Jeff Kurtzman |
| Headquarters |
Mishawaka, Indiana; Atlanta, Georgia; Dunfermline, Scotland |
| Revenue | $65 million |
|
Number of employees
|
340 |
| Website |
http://www.betterworldbooks.com/ http://www.BetterWorldBooks.co.uk |
Better World Books is an online for-profit bookseller of used and new books founded in 2002 by Christopher “Kreece” Fuchs, Xavier Helgesen and Jeff Kurtzman. It is a B Labs-certified B corporation (not to be confused with a benefit corporation), which donates books or a percentage of its profit to literacy programs around the world. By 2013, the company has donated an estimated $14 million under this program. The company discloses information about funds raised, books re-used or recycled, and books donated in a ticker at the top of its website.
Better World Books’ used book inventory comes primarily from regular book drives at over 1,800 colleges and universities and donations from over 3000 library systems, in addition to donation boxes found on corners and on college campuses. The company has distribution warehouses in Mishawaka, Indiana, Reno, Nevada, and Dunfermline, Scotland.
In 2001, shortly after their graduation from the University of Notre Dame, Better World Books founders Christopher Fuchs, Xavier Helgesen and Jeff Kurtzman sold their used college textbooks online. The three then formulated a business plan using their experience selling books online. In 2002, Fuchs and Helgesen held a book drive benefiting the Robinson Community Learning Center in South Bend, Indiana. During the drive they collected and sold 2,000 books, which raised $20,000. Half of the drive’s proceeds went to support literacy initiatives at the community center.
In 2003, the three entered their business plan into the Notre Dame Social Venture Business Plan Competition, which was sponsored by the Gigot Center for Entrepreneurial Studies at the University of Notre Dame's Mendoza College of Business. They won the competition and competition’s grand prize of $7,000 and mentorship from entrepreneur and IrishAngel David Murphy. Murphy served as Better World Books president and CEO from 2004-2011 before leaving to direct Notre Dame's Master of Entrepreneurship program (ESTEEM).
Better World Books acquired a US Small Business Administration-backed credit line in 2004. In April 2008 Better World Books secured an additional $4.5 million in venture capital via Good Capital, LLC and 18 private investors.
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Wikipedia