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Chegg, Inc., is an American education technology company based in Santa Clara, California. It provides homework help, digital and physical textbook rentals, textbooks, online tutoring, and other student services. [2] The company was launched in 2006, and began trading publicly on the New York Stock Exchange in November 2013.
BookRenter initially received financing from several venture capital firms in Silicon Valley. In 2009, it announced a Series A round of $6 million, [12] raised from Storm Ventures and Adams Capital Management, then Norwest Venture Partners led the Series B round of $10 million, which included participation from prior investors Storm Ventures and Adams Capital Management.
Chegg stock was a pandemic darling stock of sorts as education moved online and the company thrived, sending the stock to an all-time high of $113 per share in early 2021.
Users browse books online and have their choices home-delivered, rather than physically visiting a library to borrow a book. This e-commerce model is comparable to the video rental service provided Netflix. In 2009, online book rental was gaining popularity in India, with a number of websites offering free doorstep delivery for a small monthly fee.
In 2021, Kuaishou went public in HK Stock Exchange and the investment delivered $4.9B in profit (approximately 56 times return). [ 6 ] In 2020, Lu was a lead investor in the over $600 million acquisition of Grindr from Beijing Kunlun Tech Co. [ 7 ] [ 8 ] This transaction came about as a result of the decision by CFIUS to compel the owner of ...
Based on the rental method the book rental companies can be categorized into two subgroups: Book rental companies having a subscription-based models where a monthly or periodic subscription fee is charged and members can rent a number of books based on the subscription. Book rental companies taking a fraction of book cost as rent.
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That led Stevens to launch a Kickstarter project – "ebook stravaganza 3000" – to fund the conversion of 3,000 comics, written over 12 years, into a single "humongous" e-book to be released both for free and through the iBookstore; launched 8 February 2012, with the goal of raising $3,000 in 30 days. The "payment optional" DRM-free model in ...