Tag Archives: Chegg
Online Textbook Rental Company Chegg Raises $25 Million
Chegg, the large online textbook rental company, has raised $25 million in equity funding according to a form D filing with the Securities and Exchange commission from today. “The funding is led by existing investors to fuel the growth of the business,” stated a Chegg spokesperson in an interview with VentureBeat. Chegg was founded in 2005 and is now available across 7,000 different colleges nationwide.
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Textbook Service Chegg Acquires Tutor Service Student of Fortune
Online textbook rental service Chegg announced today that it has acquired Student of Fortune, a site where students tutor each other. Chegg also recently acquired Cramster, Notehall and CourseRank. With each acquisition the company becomes more than a textbook service, as their newly-revamped website now features a “homework help” section and courses section that offers schedules, reviews and grades distributions. Chegg also now offers an HTML5-based e-reader for textbooks. [Mashable]
Categories Chegg, Courserank, Cramster.com, Notehall, Student of Fortune
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Textbook Rentals Service CampusBookRentals.com Raises $20 Million
CampusBookRentals.com is a company that allows customers across 5,600 college campuses to rent textbooks online. CampusBookRentals.com announced a round of growth financing with total equity and credit facilities of over $20 million. CampusBookRentals.com competes directly with Chegg.com and BookRenter.com.
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Amazon Does Digital Textbooks with Kindle Textbook Rental
Amazon is now offering Kindle Textbook Rental, giving students digital textbooks for up to 80% off. TechCrunch reports that the service allows students to customize their rental, so they only pay to have the book as long as they need it—anywhere from 30 to 360 days. In addition, Amazon’s Whispersync technology allows students to keep their notes in the Amazon Cloud, and Amazon offers to continue this storage past the end of a rental period.
Categories Amazon, Amazon Cloud, Amazon Kindle, Amazon Whispersync, Chegg, Inkling, Kindle Textbook Rental, Kno
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Chegg In Talks With Bankers About An IPO
Online textbook rental service Chegg.com is in talks with bankers about a possible IPO. Chegg raised $75 million in funding last autumn, which brought them to a total of $219 million. On SharesPost, it appears that someone wants to buy 20,000-30,000 shares of Chegg at $6.50 per share.
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Former Netflix COO Tom Dillon Becomes SVP Of Distribution At Chegg
Online textbook rental company Chegg.com has announced that they have hired two new executives: Tom Dillon is now the senior VP of distribution and Esther Lam is now the company chief marketing officer.
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Categories Chegg, Esther Lam, Tom Dillon
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Cramster.com Gets Acquired By Chegg
Cramster.com, an online homework help website created by Aaron Hawkey, Robert Angarita, and Kaveh Golabi, has been acquired by Chegg.com. The transaction details were undisclosed. Chegg said that this acquisition will add to their textbook rental and course planning services. Cramster had raised $9 million in funding from Primera Capital and Shai Reshef. Cramster has about 1 million users.
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.
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Netflix CFO Barry McCarthy Joining Chegg Board of Directors
Netflix, Inc. (NASDAQ:NFLX) Chief Financial Officer Barry McCarthy will join the board of directors of Chegg Inc. Chegg is a Santa Clara, California based company where people can rent textbooks. There is about 4.2 million textbooks in their collection. [San Francisco Business Times]
Categories Barry McCarthy, Chegg, Netflix
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Kakai Raises $7.5 Million From Andreessen Horowitz, Josh Kopelman, and Ron Conway
Kakai is a stealth company that was started by Chegg founder Osman Rashid and Babur Habib. Interestingly Kakai is still in stealth and raised a Series B round of funding already. The second round is $7.5 million and the investors include venture capital firm Andreessen Horowitz, Josh Kopelman, and Ron Conway. Marc Andreessen is joining Kakai’s board of directors as a result of the funding.
Kakai’s previously raised $1.85 million in Series A from Osman Rashid and Mike Maples. Rumor has it that Kakai has something to do with electronic readers. The portable consumer electronics products made by Kakai will be Linux-based. Kakai currently has about 40 employees. Rashid’s other company Chegg.com has about $144 million in funding and was started in 2005.