Flashnotes, a Boston, MA-based online student-to-student marketplace for buying and selling class study material, closed a $1.5m seed funding.
Backers included new investor Nicole Stata of Boston Seed Capital, return investors Ryan Moore of Atlas Venture, Jordan Levy of Softbank Capital, and angels Deborah Quazzo, Jere Doyle and Bob Mason.
In addition, Flashnotes has acquired NoteUtopia, a California-based online community for buying and selling class notes. The merger (which will be complete for the Fall 2013 semester) brings Flashnotes additional Universities, class-specific content and student members.
Led by Mike Matousek, founder and CEO, Chief Product Officer Jeff Kushmerek and VP of Marketing Kate Adams, Flashnotes is a marketplace for class-specific study material – notes, flashcards and tutorial videos. It allows students to set their own price for the content they create and upload and earn up to 70% on each sale.
A crowd-sourced rating system discards poor content and incentivizes the best note takers.
Flashnotes also offers a 100% money back guarantee. www.flashnotes.com.