Chegg Files for $150M IPO

According to a filing with the S.E.C., Chegg, a Santa Clara, CA-based, venture-backed online textbook rental company, filed for a $150m IPO.

Investors include Ace limited, Foundation Capital, Gabriel Venture Partners, Insight Venture Partners, Kleiner Perkins Caufield & Byers, Pinnacle Ventures, Primera Capital and TriplePoint Capital.

Launched in 2007 and led by Dan Rosensweig, President and Chief Executive Officer, the company offers a range of scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, as well as college and university matching tools and scholarship connections.
To date, Chegg acquired CourseRank (August 2010), Cramster (December 2010), Notehall (June 2011), Student of Fortune (August 2011), and Zinch (October 2011).

In the first six months of 2013, the company had revenue of $116.9m  and a net loss of $21.2m. It has 300+ employees in its offices in Santa Clara, Shepherdsville, Kentucky, Portland, Oregon, Provo, Utah and San Francisco, California.



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