Bertelsmann Puts Cash Into College Textbook Publisher, FT Says

Bertelsmann AG, the German media company, is leading a group of investors backing Flat World Knowledge Inc., a U.S. college textbook publisher that offers books free online while selling cheap print-on-demand softcover editions and audio books, the Financial Times reports.

Bertelsmann Digital Media Investments, Bessemer Venture Partners and others are putting $15 million into Flat World, which will enable the company to expand its catalog beyond business and economics to cover the 125 most popular courses on college campuses, the newspaper said.

To contact the reporter on this story: Alan Purkiss in London on apurkiss@bloomberg.net.

To contact the editor responsible for this story: Colin Keatinge in London at ckeatinge@bloomberg.net.

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