Last week, TechCrunch published an in-depth review of Chegg as part of their TC Teardown series. This series, which analyzes a company’s business model and estimates their revenues, has previously looked at Zynga and Groupon. In this analysis the researcher estimates that Chegg will generate $130 million in revenue this year from their textbook rental service.
Chegg, now based in Santa Clara, California, is the current iteration of Cheggpost.com, an idea that was conceived by three Iowa State University students in Ames, Iowa in 1999. Chegg, Inc was co-founded in 2007 by Aayush Phumbhra, an alumnus of Iowa State’s MBA program who had used the original service as a student and later purchased it from the original founders.
Note: Aayush is scheduled to be a guest on the Prairiecast podcast in July.
TC Teardown: Chegg Is A Money Machine
by Guest Author Steven Carpenter on June 5, 2010
Chegg may very well be the fastest-growing, most successful, second-generation e-commerce startup that you hardly ever hear about,except maybe for the fact that it’s raised more than $140 million. Chegg is the “Netflix for textbooks.” It lets students across 6,400 […]
