Up to 90% Off on Textbooks at Chegg Online: Flash Sale! Save up to 90% on Textbooks at Chegg, plus free shipping on orders over $50. For more exciting offers and updates you can visit our page. (Aug-1-2019)
Chegg, Inc. is an American education technology company based in Santa Clara, California that offers online textbook rentals (both physical and digital), as well as homework help, online tutoring, and scholarship and internship matching. Chegg’s core offerings target students attending high school and college in the United States. The company was created in 2001 by three Iowa State University students. The name Chegg is a portmanteau of the words chicken and egg, based on the founders’ experience after graduating from college; they could not land a job without experience, but could not get experience without a job. Originally called CheggPost, Chegg was founded by Osman Rashid and Aayush Phumbhra in 2003. Rashid and Phumbhra initially believed the site would operate similar to Craigslist for college campuses, but it didn’t gain significant traction outside of textbook sales. In 2007, the company was restructured to focus on textbook sales only. It gathered books from sellers at the end of the semester and then rented or soldthem to other students at the start of a new semester.The CheggPost site was introduced in 2001 by Josh Carlson; it was used by scholars to post about furniture, sport material and books. In 2003, Aayush Phumbra wanted to bring the company to a national level and he discussed the idea with his friend Osman Rashid, who became chief executive officer; shortly they had funding of $50,000. In 2007, Phumbra and Rashid bought 2,000 textbooks and initiated a service called “textbookflix.com” for renting textbooks, based on the concept of Netflix. In 2007, the name was changed from Textbookflix.com to Chegg.com. Chegg company had difficulties to find capital, so it started financing the activities with credit. One of the strategies used by the employees was searching a copy of the book online, pay it with Rashid’s American Expresscard and ship the textbook to the student. In December 2008, Chegg raised $25 million in venture capital. In 2010, Chegg acquired CourseRank, a service that allows students to review courses and plan their courses for upcoming semesters. CourseRank is used for revisions about professors and courses; class schedules and the textbooks required; students can check the courses chosen by their friends.