NOTES FOR SALE: San Francisco startup StudySoup has raised $1.7 million in seed funding for its notes and study guides marketplace. 26-year-old CEO Sieva Kozinsky told TechCrunch his inspiration draws from his time taking a biology class in college. While he had trouble listening and taking notes as the professor spoke fast, a classmate sitting by him managed to take color-coded, organized notes.
Students like Kozinsky’s biology classmate can apply to become Elite Notetakers on StudySoup to make money selling their class notes. Elite Notetakers can make $400 to $500 per class posting notes about once a week, Kozinsky told TechCrunch, and StudySoup takes some 30 percent of the cut. Students buying notes pay for a subscripting ranging from $11 to $30 per month.
Funding was led by Canyon Creek Capital, 500 Startups, investors Jake Gibson and Leonard Lodish and others. Similar notes exchange services like Omega Notes, Notesale and Nexus Notes have also in recent years surfaced to provide students with learning materials made by other students.