Barnes & Noble has made an investment in Flashnotes, an online marketplace where college students can buy and sell their notes from class.
The deal, announced this morning, was made through the bookseller’s Barnes & Noble Education unit, in advance of its expected spinoff of the division from the company. In a news releasing announcing the deal, the company said the investment reflects the education unit’s broader plan “to pursue strategic opportunities in the growing educational services markets.”
A Barnes & Noble spokesperson declined to disclose the amount invested or the size of the company’s resulting equity stake.
Barnes & Noble is competing against Amazon and others in the market for college textbooks and related services. As part of the deal, Barnes & Noble will promote Flashnotes.com at its partner schools and online.
“This investment from Barnes & Noble Education is a powerful validation of how peer-to-peer learning is influencing the higher education process. We’re very excited to be partnering with such an iconic brand that shares our belief in empowering students to help one another,” said Mike Matousek, founder of Flashnotes.com, in a statement.
Flashnotes, founded in Ohio, also lets students buy and sell video tutorials and flashcards, among other materials.