- Josh Carlson, Aayush Phumbhra, Osman Rashid
- Santa Clara, CA
- Went Public on Nov 13, 2013
- Consumers, Online Rental, Textbooks, Education
- Chegg is an online textbook rental company offering services to universities and community colleges in the U.S.
Chegg, an online textbook rental company, was inspired by Osman Rashid and Aayush Phumbhra'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 2005 as a hyper-local classifieds directory. In fall 2007, Chegg introduced their revolutionary textbook rental service. Chegg now offers its services to more than 6,400 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 a significant amount off 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 their parents 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.
Chegg has partnered with American Forests to plant a tree for every textbook that is rented bought or sold. To date, Chegg has planted more than 1.5 million trees.
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.
Current Team (20)Update
Vice President, Corporate Controller
Jul 11, 2011
Senior Vice President, General Counsel
Marketing Solutions Director
Senior Vice President of Distribution
Chief Business Officer
Past Team (23)Update
2010 - Jan, 2013
VP of Engineering
Dec, 2010 - Dec, 2011
2009 - Jan, 2011
Jun, 2011 - Feb, 2013
Director of Marketing- Founding Team
Nov, 2010 - Apr, 2011
2011 - Jan, 2012
Funding Rounds (10) - $252.3MUpdate
$2.4M / Unknown
$25M / Series F
Mar 9, 2012Investors:
$6M / Unknown
Jul 17, 2011Investors:
$75M / Series E
Sep 27, 2010Investors:
$30M / Debt Financing
Nov 19, 2009Investors:
$25M / Debt Financing
Nov 19, 2009Investors:
$57M / Series D
Nov 19, 2009
$25M / Series C
Dec 17, 2008Investors:
$4.7M / Series B
Jun 15, 2008Investors:
$2.2M / Series A
Jan 1, 2007Investors:
Board Members and Advisors (3)Update
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