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Chegg, Inc., is an American education technology company based in Santa Clara, California. It provides homework help, digital and physical textbook rentals, textbooks, online tutoring, and other student services. [2] The company was launched in 2006, and began trading publicly on the New York Stock Exchange in November 2013.
BookRenter initially received financing from several venture capital firms in Silicon Valley. In 2009, it announced a Series A round of $6 million, [12] raised from Storm Ventures and Adams Capital Management, then Norwest Venture Partners led the Series B round of $10 million, which included participation from prior investors Storm Ventures and Adams Capital Management.
Chegg expanded from textbook rental into a portfolio of student services under his leadership, [2] [8] transforming Chegg's digital assets to meet student needs. In June 2024, Rosensweig stepped down as CEO of Chegg, and was succeeded by Nathan Schultz. [11] Rosensweig is a proponent of mentoring, [12] and of workplace equality. [13]
Chegg stock has lost nearly 70% over the last year and has been roughly cut in half in 2024. From its peak in 2021, the stock is down over 95%. Since the launch of ChatGPT in late 2022 the company ...
Users browse books online and have their choices home-delivered, rather than physically visiting a library to borrow a book. This e-commerce model is comparable to the video rental service provided Netflix. In 2009, online book rental was gaining popularity in India, with a number of websites offering free doorstep delivery for a small monthly fee.
In July 2019, LeBlanc was appointed to the board of directors of Chegg, an American education technology company that provides textbook rentals and sells students solutions to their course assignments and exam questions. [20] In 2016, he was the second highest paid college administrator in New Hampshire with a salary of almost one million dollars.
Book rental companies having a subscription-based models where a monthly or periodic subscription fee is charged and members can rent a number of books based on the subscription. Book rental companies taking a fraction of book cost as rent. This is the most prevalent model in textbook and college book renting.
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