BookSwim
| Company type | Privately held company |
|---|---|
| Industry | Book rental, Online retail |
| Founded | April 2007 |
| Founder | George Burke, Shamoon Siddiqui |
| Headquarters | Newark, New Jersey , United States |
| Products | Book rental subscription service (hardcover and paperback) |
BookSwim was a privately held American online platform for renting books, launched in 2007, specializing in mail delivery of both hardcover and paperback titles.
History
Founded in April 2007 by George Burke and Shamoon Siddiqui, BookSwim began its operations out of Siddiqui's basement. The business briefly relocated to Aberdeen, NJ before settling its main office in Newark, NJ and setting up distribution centers in eastern Pennsylvania.
Rental service
The company provided an unlimited monthly subscription service allowing customers to rent hardcover and paperback books via mail. Subscribers managed an online queue called the Rental Pool, receiving new books once they returned previously read ones. This approach, reminiscent of Netflix’s model, led to BookSwim being dubbed the 'Netflix for books.' Plans were available starting at $9.99 per month.
Recognition
In 2008, BookSwim secured first place at Rutgers University’s Business Plan Competition, earning a $20,000 award. Additionally, Entrepreneur Magazine listed it as a 'Startup to Watch,' and the New Jersey Technology Council acknowledged its innovative presence.
Market conditions
The subscriber base mainly consisted of affluent, passionate readers—approximately 80% female—who typically consumed more than forty books yearly. Emphasizing its focus on bestsellers, BookSwim identified hardcover rentals as a significant differentiator from competitors such as Booksfree.
Relationships with libraries
Although some libraries reacted with apprehension and disapproval toward BookSwim, the company did not consider itself a rival. Rather, it aimed to collaborate with library institutions, exemplified by its presentation at the 2008 Colorado Interlibrary Loan Conference to discuss partnership possibilities. In October 2008, BookSwim contributed 13,000 books to the Newark Public Library, located near its new headquarters.
See also
References