(Norwalk, CT) April 13, 2011 – Akademos today announced that John Squires has been named Chief Executive Officer and that Kohlberg Ventures has increased its stake in the company, bringing its total investment to $5M.
Squires joins the company during a period of explosive growth. In the past year, 44 new schools have selected Akademos as their full-service digital bookstore and marketplace. The company’s student enrollment base has grown by more than 140%.
“John is the perfect leader for Akademos at this time,” said founding CEO Brian Jacobs. “His extensive publishing management and technology experience, especially in the field of emerging digital platforms, will provide us the resources we need to continue to expand our premiere digital services platform for schools.” Jacobs will remain active in the company as president, continuing to work with schools and helping to realize the vision for the company.
“In speaking to Akademos customers, it is clear that Brian has built a fabulous company with superior technology and customer relationships,” said Squires. “I’m delighted to join Akademos to help Brian and his team serve more learning institutions with unique and cost-efficient learning tools that lower the cost of educational materials for both students and the schools that serve them.”
In addition to the selection of Squires as CEO, Kohlberg Ventures will provide additional investment financing to fuel growth. “We’ve continued our investment in Akademos because we believe in the extraordinary opportunity to serve schools with efficient and innovative digital learning solutions,” said Bill Youstra, Partner at Kohlberg Ventures. “We’re delighted by the company’s growth and the market’s response to Akademos’ services.”
Squires was previously the founder of Next Issue Media, the digital publishing consortium joined by Conde Nast, Hearst, Meredith, News Corporation and Time Inc. Next Issue Media brought these companies together to develop publishing solutions for tablet reading devices. Prior to Next Issue Media, Squires served as executive vice president at Time Inc., where he was responsible for leading digital operations and overseeing Time, Fortune, Sports Illustrated, Money and Golf magazines.
Akademos offers a turnkey virtual bookstore and marketplace for small and midsized schools. Its advanced technology, comprehensive supply-chain solution, and commitment to responsive personal service make it a leader in providing affordable course materials and digital learning tools for schools. Students can choose new, used, marketplace, rental, and eBooks while schools can reduce costs and enjoy greater operating efficiency. Akademos delivers the right course materials, at an affordable price, on time. Learn more at www.akademos.com.