Building A Better World Through Literacy

" Our -- we sit down exam -- held -- is the chief information officer and one of the founders of bad wolf the books it is an online bookstore that's also has a social component raising money for global literacy programs it's uninteresting story exhibited good morning to you. Could you explain exactly how -- business works and how are essentially it all came together."

" I guess would it's going to be here. I yeah our business works by collecting kind of be on want to use books of the world. So the college books you couldn't help the bookstore the books libraries. Don't need me more you give to them McCain use. So we take those on one place taken about 200000 books a week and then we sell them globally on the Internet. And how is business. We're actually up about 50% on the fiscal year from last year. So why were made in the right part of the book market for the economy. It certainly seems a month. Did you also explain the carbon offsetting component -- business how does that look -- it's a great example of how we blend our mission without profitability. So what we do is when you check out from the web -- we take a few pennies. And you contacted if you don't want to pay it if you don't think that's appropriate but the majority of our customers do because it set by the thought. And so those few pennies are what we calculated as the carbon offsets from shipping this book to to London or leave Cairo or wherever it's going. Interesting now last year received -- and a half million dollar capital injection what all the ways. Are you looking to raise money out that's a great question nowhere actually cash flow positive now so we're not we bootstrap the coming for the first five years. And a lot of that was due to our cash flow model where we sold everything on consignment so when we took in a book we really never paid anything other than the inbound shipping in the labor to. Listed online. Before we sold it and then when we sell it that's when we share the proceeds with the literacy organizations. And the libraries. We support. And -- models helped us raise about six million dollars for them since we got pounded with without external capital coming --"

" That's remarkable now -- company mentioned works it works with five global literacy partners. How well you probably just -- how significant of a portion of those revenues do these partners -- receive and a due to spit up evenly between the five."

" Mitt -- it's it's really a partnership so they they work with us on the ground help collect books. And therefore they're part of -- supply chain and not just stay down kind of good thing that we do with the profits at the end so we actually pay them -- gross margin. The same way you'd have paid good supplier. These literacy partners are not only suppliers books there also are we took 5% of the founders stock in the company when we took capital last year who. And we actually allocated that a stock options for them so we consider kind of social mission reversed poison -- a -- well. That if any change in ownership happened in the company the literacy partners are at the table right next to the other shareholders of the company. So actually have a stake in the company finally. They say he was the next step for expanding your business that's a great question I you know we used to sell our books only through Amazon and eBay and other third party channels. And so we have for instance one of the highest eBay feedback from the world. Now we're really focusing on our own brand so building -- that it will books is a one stop destination for all your shopping. So that includes stock and -- books as well as millions of views. Remarkable story and say yeah held listen -- better world looks congratulations C good luck for the future and thank you for joining us this morning."