Wednesday, August 14, 2013

Chegg Files For IPO

Santa Clara-based Chegg, the provider of textbook rentals, has filed for an IPO, saying that it is looking to raise up to $150M in its public offering. Chegg said it would look to trade on the New York Stock Exchange under the symbol CHGG. The firm's IPO is being underwritten by J.P. Morgan, BofA Merrill Lynch, Jefferies, Piper Jaffray, Raymond James, and BMO Capital Markets. Chegg is backed by Kleiner Perkins Caufield & Byers, Gabriel Ventures, Foundation Capital, Insight Venture Partners, along with others.