Phumbhra and Rashid rebranded, launching Chegg, Inc. In February 2006, Carlson left the company. Some initial start-up funding was provided by Rashid. At that time, it offered scholarship searches, internship matching, and college application advice. The company was incorporated in 2005 by Carlson, Rashid, and Aayush Phumbhra. Ĭarlson then teamed with Iowa State MBA Osman Rashid, an avid user of the site who recognized its potential to disrupt the textbook market, which had "drastically outpaced the rate of inflation". Chegg is a combination of the words chicken and egg, and references the founders’ catch-22 feeling of being unable to obtain a job without experience, while being unable to acquire experience without a job. In October 2000, Iowa State University students Josh Carlson, Mike Seager, and Mark Fiddleke launched Chegg's forerunner, Cheggpost, a Craigslist-style message board for Iowa State students. As of March 2020, the company reported having 2.9 million subscribers to Chegg Services. The company was launched in 2005, and began trading publicly on the New York Stock Exchange in November 2013. It provides digital and physical textbook rentals, textbooks, online tutoring, and other student services. Chegg, Inc., is an American education technology company based in Santa Clara, California.
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