| Total | $27.2M |
| Series A, 1/07 Gabriel Venture Partners Maples Investments | $2.2M |
| Series C, 12/08 Kleiner Perkins Caufield & Byers Foundation Capital Gabriel Venture Partners | $25M |
Chegg, the premier online textbook rental company, was inspired by Osman Rashid and Aayush Phumbrha’s frustration with the policies and procedures of their own university’s bookstore. Osman and Aayush knew there had to be a better solution, one that worked for students, professors and publishers alike.
Chegg was launched at Iowa State University in 2003 as a “hyper-local” classifieds directory. In fall 2007, Chegg introduced their revolutionary textbook rental service. Chegg now offers its services to all universities and community colleges across the country.
RENTING TEXTBOOKS WITH CHEGG
Chegg lets students rent as many textbooks as they like with just a few clicks. Books are delivered in less than a week. Renting textbooks through Chegg not only saves students up to 80 percent on their textbook bills, but it also eliminates the hassle of waiting in long lines at the bookstore. Best off all, with Chegg there are no monthly subscription fees or hidden charges.
Not only do students—and those paying students’ bills—save money and time with Chegg, but they also help the environment. Over the past three years the U.S. book publishing industry has consumed an average of four million trees per year to print textbooks sold in America. Each student purchases an average of one tree per year in textbooks.
PARTNERSHIPS
Chegg is proudly partnered with Eco-Libris, a group that works with people to mitigate the environmental impact of book production, for an initiative to plant one tree for every student’s textbook rental.
WHAT’S IN THE NAME?
Chegg was launched as Textbookflix.com and in 2007 officially changed its name to Chegg, a well-thought-out combination of “chicken” and “egg.”
