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

program success

Aug 05, 2008, 01:00 ET from Chegg

    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.
     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.
     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 melissa.smolensky@porternovelli.com