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DePauw University student Ryan Tinker has a ways to go before he earns his college degree, but he’s already a cog in America’s entrepreneurial machine.
The 20-year-old sophomore from Overland Park collaborated with fellow DePauw student Zach Koch to start BookSnag.com in January 2006. With a $500 investment in computer equipment, the two created a Web site to help students at the small liberal arts school in Greencastle, Ind., save money buying and selling used textbooks.
BookSnag‘s idea is simple: Provide a local alternative to the campus bookstore for exchanging textbooks. Students can use BookSnag for free. Sellers name a price for old textbooks and list the offer. Buyers can search by title for the books they need and either purchase at the asking price or make a counteroffer.
If a book is not available, the site directs users to Amazon.com as an alternative. Tinker and his partner earn revenue from Amazon on referrals.
The DePauw duo are among a growing number of young entrepreneurs running a business. According to the Small Business Administration’s Office of Advocacy, 188,000 self-employed people were under the age of 21 in 2005, compared with about 142,000 in 2000.
DePauw University News
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