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Announced this past December, a subscription gives students access to all the company’s digital higher education course materials—more than 22,000 products across 70 disciplines and 675 courses—for 9.99 a semester, no matter how many Cengage materials they use.Students using the digital platforms have the option of free print rentals, paying only a .99 shipping fee.
“The print rental and textbook business is milk in the back of the store— everyone needs to have it,” says Rosensweig.
“This has allowed us to get all of these students, plus their credit cards. Carlson left, and in 2007 Phumbhra and a new team refocused entirely on renting textbooks.
“Anything is possible,” says Rosensweig, the chief executive of Chegg.com, a five-year-old company that rents textbooks to college students on 7,000 campuses.
“But if you spend any time in higher education, you realize that we’re dealing with the same education system that existed 200 years ago.” The more immediate change, says Rosensweig, is in how and where students buy content, not the content itself.
in late January announced that it will sell $15 electronic versions of K–12 textbooks, which usually sell for $75.
Colleges and publishers are starting to offer lower-priced digital course material, and Amazon and are offering cheaper shipping costs and rental options for traditional textbooks.His bet will determine the future of Chegg—which is not profitable but generated estimated revenue of 0 million last year, up about 38% over 2010.Textbooks, a capital-intensive, low-turnover business, is ripe for disruption.It’s at the centerpiece of the student graph.” Chegg got its start in 2000 as a side project for Josh Carlson, then a sophomore at Iowa State University. They raised more money and in 2010 brought on Rosensweig, 50, a former , to run the company and create Chegg’s digital strategy.He built a site called Chegg as a Craigslist for college students, who used it to buy and sell furniture, sporting goods and textbooks. Carlson planned to sell advertising once traffic picked up. Despite the acquisitions Chegg is still rooted in traditional textbooks.Today Chegg charges between and 4 for a textbook rental of up to 125 days.The continued growth in e-textbooks, which Chegg already sells, could crush Chegg’s traditional business.Pay Pal payments are processed automatically every Thursday morning, PDT/PST.Your weekly payments will include all lessons finished between Wednesday am PDT of last week and Wednesday am PDT of the current week, meaning any lessons completed after Thursday am PDT will be included in the following week's payment. Dan Rosensweig is open to the idea that the textbook as we know it will someday no longer exist.He just doesn’t think it’s going to happen anytime soon.