Most importantly, in everything we do there is a partnership with a college or university. Each one of those institutions helps us promote our service and establish the necessary relationships with students. A lot of companies targeting the college market are only selling textbooks. It is an important category and a viable business model, but it's not the most significant thing for college students on the Web. Textbook sales only make up about five percent of our total revenue.
Students spend more time and money online on research and travel and telecommunications services.
There are a lot of smart players in the textbook space. The ones that are able to combine traditional and online retail have a more powerful impact, but ultimately it is a low margin business. This is why they need to be more than just college textbooks and you are starting to see that already in some of these companies. Our marketing through our corporate partners has been very effective, as well as our relationships with the universities. This has given us more credibility over time.