About Chegg Store

In 2001 Josh Carlson Mike Seager and Mark Fiddelke created the precursor to the business called Cheggpost.com a Craigslist type classified service for college students at Iowa State University. Aayush Phumbhra who attended Iowa State University and was an avid Cheggpost.com user approached Carlson in late 2003 with the idea of taking the company national. Phumbhra mentioned the service to a friend Osman Rashid who saw potential in the idea joined as chief executive officer to help fund the company in 2005 and formally launched Chegg Inc. which was incorporated in August. Carlson remained until February 2006 and then left to pursue other interests. In April 2006 Chegg found some initial investors including Sam Spadafora Mike Maples and others. The co founders quit their regular jobs to focus on Chegg full time. They tested services acquired three college classifieds businesses and publicized Chegg via campus campaigns at SUNY Canton and word of mouth. In summer 2007 the firm launched textbookflix.com which used a textbook rental model modeled after Netflix. Rashid and Phumbhra decided to switch the textbookflix name to Chegg.com in December 2007. According to a company spokesperson Chegg rented its two millionth book in 2010