chegg – series c
Santa Clara-based Chegg.com, an online provider of textbook rentals, announced today that it has raised $25M in a Series C funding round. The round came from Kleiner Perkins Caufield & Byers, Foundation Capital, along with existing investors Gabriel Venture Partners and Primera Capital. The firm said it will use the funding to grow its site. Chegg…. (more)
Source: silicontap.com
Where was this service when I was going to school? International students in the US has to resort to importing textbooks from Asia because it is at least 2/3 off the list price in the US. Textbook rentals is a great concept, because its usually used for a trimester or semester, not longer than 4 months, I think students have better space use in their dorms instead of books. Since it is already Series C, we will take a pass but with a couple of competitors in the space, I believe they are the most well funded with the strongest board. KPCB always has a liking to education, this is a good one… Wish them luck.
