Textbook Rental Site Chegg.com Gets $25 Million Funding
Founded in 2005, Santa Clara, Calif.-based Chegg.com says it saved students at 4,000 campuses nationwide about $16 million this year. Individually, students can save up to 80%, or $650 a semester, through the site, according to the company.
"With this funding, Chegg.com will be able to reach even more students, with more books and more money saving services," said Osman Rashid, the company's CEO and co-founder, in a statement. Getting a cash infusion of $25 million as investors turn increasingly cautious because of the downturn signals strong backing for the startup.--Mark Walsh