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Just like healthcare, the cost of education seems to defy gravity. It's not just tuition; textbooks are also a financial burden -- something that nearly every student complains about.Well, this has been a nice opportunity for Chegg.com, which is a textbook rental company. In fact, as a sign of its success, the company has snagged $25 million in venture capital from Kleiner Perkins Caufield & Byers, Foundation Capital, Gabriel Venture Partners and Primera Capital.
It's a blowout round, which is likely to help boost market share and Chegg.com's brand.
What's more, the website's value proposition is irresistible. Basically, students can save up to 80% or $650 per semester on textbooks. How can a starving student pass that up?
Apparently, Chegg.com has been generating a fair amount of revenue over the past couple years. With its slug of venture capital now, the growth is likely to continue – not an easy feat in the current economy.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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