Textbook Rental Chegg Raises $75 Million From Asian Company
Chegg is a very popular online textbook rental service. Chegg has recently raised $75 million from Ace Limited, an Asian-based investment firm. Chegg had $144 million of funding before this. Other venture firms that put money into Chegg include Kleiner Perkins, Foundation Capital, and Insight Venture Partners.
Chegg started as a classifieds rental service in 2005 on the campus at Iowa State University. Chegg works across 7,000 schools in the U.S and the company employs about 120 people across Silicon Valley and Louisville, Kentucky. Chegg recently acquired CourseRank, a Mountain View, California based start-up where students can share class schedules with friends and write reviews on classes.