Flashnotes, a Boston-based marketplace for class notes acquired its competitor Moolaguides for an undisclosed amount. This is the second acquisition of a competitor by Flashnotes within twelve months.
Flashnotes raised a $3.6 million Series A from Stage 1 Ventures, Runa Capital, SoftBank Capital and Atlas Ventures in early February.
Flashnotes acquired competitor NoteUtopia in July 2013 after raising a $1.5 million extension of its Seed Round to strengthen its footprint on the US west coast. FlashNotes raised its first $1.8 million Seed Round in October 2012.
Moolaguides has a strong footprint in Florida and has generated around $400.000 in revenue since its launch in 2010 and has paid out around $375.000 to students who uploaded their class notes and learning material on the marketplace.
FlashNotes aims to reach 300 universities by the end of this year founder and CEO Michael Matousek told TechCrunch.
There is, of course, a lot of controversy around selling class notes, some schools and universities explicitly forbid the upload on marketplaces like Flashnotes. I interviewed Sean Conway, founder of Notehall about a year ago. Notehall was the first startup in the space and was acquired by Chegg for an undisclosed sum. In the interview we also touch on the issues around selling class notes but also the apparent high demand for such a service from students.
- Flashnotes.com Acquires Fellow Study Materials Marketplace | EdSurge
- Flashnotes Buys Moolaguides, Consolidating The Market For Crowdsourced, Online Study Materials | TechCrunch
- Study Materials Marketplace Flashnotes Makes Second Acquisition | BostInno
- Class notes marketplace Flashnotes raises $1.5 million and acquires competitor NoteUtopia | TheNextWeb