Chegg, Chegg, Chegg Raises $57M + $25M Credit For Text Book Rental
alarmClock Nov 20 09Online textbook rental company Chegg.com it raised $57M in a fourth round of funding. Santa Clara-based Chegg.com said the round was led by Insight Venture Partners. In addition, Chegg got a $25M credit facility, adding to the $30M in debt facility recently secured from Pinnacle Ventures and TriplePoint Capital. Including this new round of venture capital and venture debt, Chegg.com has raised more than $160 million since its founding in 2005. With Chegg, students pay a fee to rent a textbook for a semester or quarter period. Chegg.com has rented more than 1.5M textbooks this year. Chegg has had a hickup. Full story...
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