Thursday, November 14, 2013

Chegg Drops In IPO Debut

Santa Clara-based textbook rentals site Chegg dropped in its IPO Wednesday, with shares at one point at 23 percent below its $12.50 IPO price. The company was trading around $9 per share in its second day of trading. Chegg was backed by Kleiner Perkins Caufield & Byers, Gabriel Ventures, Foundation Capital, and Insight Venture Partners. The company is now trading on the New York Stock Exchange under the symbol CHGG.