SANTA CLARA, Calif., June 17 /PRNewswire/ -- Chegg (www.chegg.com), whose transformative concept of money-saving, rental access to textbooks has made it one of the Internet's fastest-growing new companies, today announced that Founder & Chairman Osman Rashid was named the 2009 Northern California Ernst & Young Entrepreneur Of The Year(R) for the Consumer Services category. Rashid was selected among top industry leaders of high-growth, market-leading consumer companies for his outstanding entrepreneurialism and achievements with Chegg.
As the Northern California regional winner, Rashid will represent Chegg as he is considered for the national Ernst & Young Entrepreneur Of The Year(R) award. This is the world's most prestigious business award for entrepreneurs, awarded to leaders who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Former recipients include Marc Benioff for Salesforce.com, Sergey Brin for Google, and Tom Siebel for Siebel Systems.
Humbled by the honor, Rashid said, "The true spirit of this award belongs to the Chegg customers and team for supporting a great cause: saving students money while helping the environment."
Chegg Chief Executive Officer Jim Safka said, "Chegg is the vision of extraordinary entrepreneurs who routinely broke from conventional wisdom to pursue their belief that there had to be a smarter, more economical model than buying expensive textbooks that would help students save money. This award honors the innovation and entrepreneurialism with which that fundamental belief was brought to life, and the individuals who contribute to that cause, every day."
Chegg is replacing the legacy textbook channel with an Internet-based model for rental and return. Started in 2005 by Osman Rashid and Aayush Phumbhra, and launched nationally in 2007, Chegg has already saved students at over 6,000 colleges millions of dollars. With a growing inventory of more than one million books, Chegg.com puts textbooks into the hands of students when they need them, arriving in the brand's iconic orange box, and enables students to send their books back - with a streamlined, elegant solution. Additionally, Chegg's "sustainable textbook" initiative plants a tree for every book rented; to date, more than 750 acres - the equivalent of 150 blocks - have been planted.
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Ousama Haffar, Chegg.com