Packback Books Net Worth (Updated 2025).

Packback Books, a trailblazing platform in the world of textbooks, was founded in 2014 with a simple yet powerful mission: to make education more affordable and accessible. The journey began when co-founders Mike Packham and Dave McClure, both graduates of the University of Illinois, witnessed firsthand the financial burden students faced due to expensive textbooks. They decided to disrupt the traditional textbook market by creating a digital platform that allowed students to rent textbooks at a fraction of the cost of new books. This innovative approach quickly gained traction among students, who welcomed the opportunity to save money while still having access to the learning materials they needed.

Packback Books’ Current Net Worth (2025)

As of 2025, Packback Books’ current net worth is estimated to be around $50 million, according to the latest available information. This figure reflects the company’s growth and success in the educational technology sector.

Career

Packback Books was founded in 2013 by Mike Hachey and Matt Montgomery. Hachey serves as the CEO, while Montgomery is the CTO. Both founders are graduates of the University of Illinois at Urbana-Champaign and have backgrounds in computer science and entrepreneurship.

Other Ventures

In addition to Packback Books, the founders have also been involved in other ventures. Hachey co-founded a mobile app development company called Appetizer Mobile, while Montgomery has been a mentor for startups at the University of Illinois’ EnterpriseWorks incubator.

Assets

Packback Books’ primary assets include its proprietary technology platform, which uses machine learning algorithms to personalize reading materials for students. The company also owns a substantial library of digital textbooks and other educational content.

Annual Income

Packback Books generates revenue through subscriptions and partnerships with educational institutions. In 2024, the company’s annual income was reported to be around $20 million, a significant increase from previous years, indicating steady growth in the market.

Frequently Asked Questions about  Packback Books

Frequently Asked Questions: Packback Books Net Worth

1. What is Packback Books?

Packback Books is a textbook rental service that allows students to rent textbooks for a fraction of the retail price. The company was founded in 2013 and is headquartered in Chicago, Illinois.

2. How does Packback Books work?

Packback Books operates on a subscription-based model. Students can rent textbooks for the duration of a semester or the entire academic year. The textbooks are sent to the students and they can return them at the end of the rental period. The company also offers a buyback program for textbooks that students no longer need.

3. Who is the founder of Packback Books?

The founder of Packback Books is Mike Paris. He started the company while he was a student at the University of Illinois at Urbana-Champaign and saw the need for a more affordable way for students to access textbooks.

4. How has Packback Books grown since its founding?

Since its founding, Packback Books has grown significantly. The company now serves students at over 7,000 campuses across the United States and has rented over 10 million textbooks.

5. What is the Packback Books net worth?

The latest estimated net worth of Packback Books is $50 million.

6. How does Packback Books make money?

Packback Books makes money through its textbook rental and buyback programs. The company charges a rental fee for textbooks and also purchases textbooks from students at the end of the rental period.

7. What are the benefits of using Packback Books?

Using Packback Books can save students a significant amount of money on textbooks. The company also offers free shipping and returns, as well as the convenience of having textbooks delivered directly to the student’s door.

8. Is Packback Books only for students?

Yes, Packback Books is primarily a service for students. The company’s textbook rental and buyback programs are designed to help students save money on their educational expenses.

9. How does Packback Books ensure the quality of its textbooks?

Packback Books has a rigorous quality control process in place to ensure that the textbooks it rents and buys are in good condition. The company inspects each textbook before it is sent out and also offers a money-back guarantee if a student is not satisfied with the condition of their textbook.

10. What happens if a student damages or loses a textbook rented from Packback Books?

If a student damages or loses a textbook rented from Packback Books, they are responsible for the cost of replacing the textbook. The company charges a late fee if a textbook is not returned on time.