Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The electronics e-retailer is partnering with ValoreBooks.com for Newegg Books.
The U.S. Department of Education says the college textbook market is worth $7 billion a year, and web-only electronics retailer Newegg Inc. wants in on the action.
Newegg, No. 12 in Internet Retailer’s Top 500 Guide (learn more about The Guide: ), is partnering with ValoreBooks.com, an online marketplace for new and used college textbooks, to create Newegg Books, which offers textbooks for sale at up to 90% off the suggested retail price, Newegg says.
"With the costs of higher education rising nationwide, college students are actively searching for ways to save money,” says Bernard Luthi, senior vice president of marketing, web management and customer service at Newegg. “We teamed up with ValoreBooks.com to create Newegg Books as a way to help them enjoy significant savings this fall.”
When shoppers click on textbooks at Newegg.com, they can search by ISBN number, author, title or keyword. Similar to eBay or Amazon marketplaces, the results page displays the number of sellers offering that particular book and the selling price offered. Newegg Books utilizes Valore’s marketplace, which has more than 14,000 booksellers with an inventory of 6.5 billion books, Newegg says.
"This partnership with Newegg expands ValoreBooks' vision to make college more affordable for students nationwide,” says Bobby Brannigan, CEO and founder of ValoreBooks.com. “We are thrilled to be working with one of the premier online retailers to provide students with a world-class textbook shopping experience."