German startup PrintPeter has come up with an idea to offer students free printing - in exchange for advertising on their pages. The startup has received €1.1 million from business angels including founders of the career platform Employour Daniel Schütt and Stefan Peukert, and Dieter Dahlhoff, a professor at the University of Kassel. Former managing directors of the social networking platform StudiVZ, Michael Brehm and Thomas Baum, also participated in the round. PrintPeter now has a valuation of over €5 million.
Students are always printing manuscripts, coursework, and essays - spending a lot of money in copyshops in the process. PrintPeter founders saw an opportunity to print these documents for students free of charge, paid for by companies advertising on the pages.
PrintPeter reports that it now works with over 500 companies, and 80,000 pages were sent to students last month. More than 100,000 students have registered with the company since it launched in May 2016, with about 500 new registrations every day.
Read more: Grunderszene (German)