With Two Weeks Until 'Textbook Tuesday' Chegg.com Celebrates 1st Birthday for Textbook Rental Program
Chegg, the number one textbook rental company, continues momentum with new
funding, additional services, partnerships and continued environmental
SANTA CLARA, Calif., Aug. 5 /PRNewswire/ -- Chegg, the number one textbook rental company, celebrates its first year of the textbook rental program with continued momentum leading into the new school year. Already the number one textbook rental company, Chegg starts its second year with additional funding, new services for students, various partnerships, a strong environmental program, and the market primed for online textbook rentals to take off. With textbook legislation recently approved by Congress and online use at an all time high, students are embracing the ease of use and the cost and time savings of renting textbooks online. Chegg expects to more than quadruple the amount of students it can service in the new school year and is stocked-up for "Textbook Tuesday" on August 19th, 2008. This year's Textbook Tuesday is expected to be the biggest day for online textbook rentals. Making textbooks more accessible and affordable, Chegg offers a convenient and cheaper alternative to traditional campus bookstores. Once a user selects their textbooks online, the books are delivered straight to the student's door, within days. When the semester is over, students simply print out a free return shipping label from their online Chegg account and send the books back. Last year Chegg helped students save millions of dollars across the US. This year, Chegg will help students save 60 to 80 percent on college textbooks, putting money back into students' already thin wallets. Funding Chegg recently closed their series B funding and asset financing, placing the latest funding round above $7 Million dollars. With this additional funding, Chegg will focus on expanding the variety of textbook titles to service a wider student base. On top of textbooks, Chegg will enhance customer facing and internal operations, as well as look further into demand generation opportunities. New Services On top of the birthday and continued momentum celebration, Chegg announced today the ability to buy textbooks with the first ever cash back guarantee on new and used textbooks. Upon purchasing a book through Chegg, students will know exactly how much money they can expect to receive at the end of the semester, if they sell the book back to Chegg. This service is a first of its kind in the textbook industry. Partnerships Chegg has successfully created partnerships both on the demand and supply side. New partners include publishers, wholesalers, online marketplaces and affiliates. Last week, Chegg announced a strategic affiliate partnership with Biblio.com, one of the largest and preferred online global marketplaces for buying used, rare, and out-of-print books and textbooks. This partnership will help Chegg and Biblio.com service a wider audience of customers by providing more outlets for students to easily rent, in addition to buying, used or new textbooks. Tree Planting Program Chegg has successfully planted 100+ acres of trees and is expecting to significantly increase that number during the next planting seasons. Chegg plants a tree for every textbook rented. By working with UN approved agencies, Chegg has been able to ensure the troubled spots around the globe are getting a portion of tree allotment. "As we look to our second year of the rental program, Chegg is ready to help more students save money and time on their textbook needs," said Osman Rashid, CEO of Chegg. "Chegg is now a trusted brand amongst college students with customers using our services from all 50 states in the US." About Chegg Chegg is the number one textbook rental company. Chegg was founded in 2005 and launched its textbook rental service in July 2007. Since then Chegg has saved students millions of dollars at 4,000+ campuses nationwide. With over 1 million books to choose from, Chegg makes renting and returning textbooks as easy as a click of a mouse. On top of added savings, Chegg will plant a tree for every book rented. To date Chegg has funded over 100 acres of trees. For more on Chegg, log on to Chegg.com.
Media Contact: Melissa Smolensky Porter Novelli 212-601-8203 firstname.lastname@example.org
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