Chegg started as a Craigslist-style site that sold and rented cheap textbooks, but over the last decade it has become an online hub to help college students get tutoring, choose their courses, and take notes. Its CEO, Dan Rosensweig, has said he envisions Chegg as the “student graph” – an educational equivalent of Facebook’s social graph of user information.
Now, Chegg is taking another page out of the social network’s book: it’s going public.
Chegg filed for an initial public offering on Aug. 14, and it’s hoping to raise $150 million. The company is valued at $800 million and, according to its S-1 filing, generated a net revenue of more than $213 million in 2012. It has already raised nearly $200 million from various investors.…Read More