REXT: The start of an entrepreneurial journey for 2 college students
Alex Melas was looking at his pile of textbooks one night when he realized: Everyone thinks the price of textbooks is too high and everything thinks it’s a pain to get them.
So, he made an app.
REXT aims to make buying textbooks more efficient. Melas’ concept: you can rent to students for an hour, daily, weekly, monthly, by semester, or you can even sell textbooks. The idea is to only pay for what you use; no more wasting money on books that you only need for one assignment.
Alexander Melas is a UAlbany student and now he also holds the title of CEO of REXT. His business partner, Phillip Harabarovici, is his CFO.
Alex was born in Russia and was adopted by an American family when he was a boy. He grew up in South Colonie and graduated high school there. He works full time at Ayco, an investment company, while also taking classes. When asked why he transferred, he said it was due to the locality of his business partner and it would be easier to work on the company.
Phil, a Siena junior studying Finance with a minor in Computer science, met Alex in high school. When Alex came to Phil with the idea for the app, he was all for it. Especially due to the fact he has a book selling business on Amazon.com: EMIL printing.
When I asked these gentlemen about where the name came from, they laughed. They explained how difficult creating a name was. Taking days to simply agree to one, they finally decided on REXT; short for Rental Texts.
With REXT, the seller sets the price and that person can block off the days he or she does not want the book to be rented. If you are renting it, you can easily choose the duration of the renting period and pay through the app.
Communication between the buyer and seller is also easily accessible because there is a chat icon for the purchase.
As for the future of the company, both Alex and Phil are excited to launch the app. They both discussed REXT’s future, saying that right now they are just dealing with textbooks but, once they are bigger and expand, they plan to rent and sell anything and everything: movies, TV’s, cars, toys, etc.
With energetic personalities, great people skills, and a clear vision, Alex Melas and Phil Harabarovici are definitely going to accomplish great things.
As Alex said, “This is just the beginning!”