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Secret old textbook rental network how to get 25 million venture capital

used textbooks lease is not a new idea, almost all the students have gone to college to discuss how to deal with the old teaching materials.

, however, from the United States Chegg.com (Qi Gewang), in 2007 at the Santa Clara in California began textbook rental services. Only a year and a half, Qi has entered the United States, Canada, more than 5 thousand campuses.

reported that in the worst economic crisis in 2008, the site’s revenue this year has more than 10 million U.S. dollars last year, and successfully attracted $25 million in venture capital.

how do they achieve the entrepreneurial dream that most people do not have?

to build a "hand platform" to receive all the needs of

, according to the New York Times, the two founders of the same year were also college students, saw the business opportunities in the textbook market. They first in 2003 to do a variety of teaching materials to sell classified advertising site to the students, advertising fees. This was called "CheggPost" only a few people use, finally settle a matter by leaving it unsettled.

so they began to study the feasibility of the method.

they found that before the construction of the site, most of the students are to find the old textbook. And they did not trade, because the old textbook is not enough.

if the site is big enough, it will be successful, they also found that even if the site is old enough, it may not be successful. They found that, even if the big student, is also "short-sighted". The original old textbooks on the market there is a problem, because the "supply and demand" is not stable, the website can never guarantee that their success will be in the hands of the old books of all clearing". So, students at the end of the semester, they will soon sell books to the school bookstore, all sold, in exchange for some cash, some less heavy home. Thus, in the new semester, even if the professor really assigned these textbooks, the new students can not find a senior to buy textbooks.

saw this potential problem, the two entrepreneurs specifically for this demand to repair the situation. They began to think, they don’t just do a "platform", and to be a "hand platform" — they reach out to help all people in need, even if there is no "old", they also want to get some of the "old" to give them.

then, for these books can be recycled, they start and say, these books also gave them at the end of the semester. As a result, a lease of the old textbooks site Chegg.com was born. In the past year and a half, they verified the feasibility of the scheme through 53 questionnaires, including whether students want to rent textbooks, possible fraud is a threat to the operation of the company.

books only lease two rounds to start making money

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