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NEW YORK — An artificial intelligence research company, Open Source Books, announced Monday that it has bought textbooks from a number of book publishers for $30,000 each.
Open Source Books is a new company that is launching a “smartbook ecosystem” that allows publishers to buy and sell textbooks directly to their readers.
The company said it will also sell textbooks for $10,000 per year for a period of two years to existing customers.
It is also adding $10 million to its stock market cap for the purchase of more stock, said the company in a statement.
Open Source Books is working with some of the biggest book publishers in the world.
It said it was the largest digital textbook buyer in the US and one of the top 50 book sellers in the UK.
Book publishers can use the company’s platform to buy textbooks directly from publishers, which is a huge boon to the book industry.
It gives publishers a platform for selling books directly to consumers without going through a middleman.