American Textbook Leasing website Chegg valued close to 1 billion US dollars

American Textbook Leasing website Chegg Sina Science and technology Beijing time August 22 Afternoon news, the U.S. online textbook leasing and education services company Chegg in cash plus shares in the form of the acquisition of online counseling service company student of Fortune.　　Chegg aims to provide a one-stop service for college students, which is part of its business expansion.　　Specific terms of purchase are not disclosed, but people familiar with the matter said the Student of Fortune website had been profitable and had a high profit margin because the company had only 5 full-time employees. Chegg last September when they financed $75 million from the Hong Kong investment company Ace 2¥q. According to people familiar with the matter, investors ' valuations of Chegg are close to $1 billion trillion, as a result of funding.　　Although Chegg did not disclose its revenues, sources said Chegg's annual revenue was around $100 million trillion. "Chegg began to connect people through the Student Atlas, and our bigger goal was to help students learn and save time and money," said Chegg CEO Dan Rosenswig Dan Rosensweig.　　"Chegg started operating as a textbook rental website in 2005, but since Rosenswig took over Chegg in early 2010, he began expanding the company and providing students with a range of other services such as curriculum planning, coaching, and interpreting notes."　　The expansion of the company's business has also shown the Chegg concept that traditional textbook leasing is not a long-term growth plan, and that these new paid services will be popular among the financially strapped students. In August 2010, Chegg acquired Courserank, which mainly helped students select university courses. In December 2010, Chegg also acquired the online homework provider Cramster.　　This June, Cramster acquired Notehall, which mainly helped students to buy and sell curriculum notes for other students.　　Rosenswig said the Courserank service was used in 1000 universities, up from 30 last year, and Cramster now has a 1 million-person audience, up from hundreds of thousands of at the end of last year. Student of Fortune was created by two college students in 2005 and is an online market where students can offer and bid for counselling services, and Student of Fortune is split from it. Student of Fortune says they have more than 300,000 users, with the top earners reaching 266,000 dollars.　　Rosenswig says most of the revenue from the service goes to students ' pockets. Chegg currently aggressively enters the electronic textbook Leasing website and announces Macmillan, John Wiley & S with top E-book vendorsONS, Mcgraw-hill Companies and the Holy Wisdom Study Publishing Company (Cengage Learning) reached a cooperation agreement.　　Through these collaborations, Chegg can offer 40,000 e-books by the end of the year, up from thousands of them today. Despite recent rumours that Chegg will be on the market recently, Rosenswig said they had no recent plans to go public. He said: "We really just want to develop the company." "If the valuation of $1 billion is a failure, according to my five-year plan," said Rosenswig, about whether to add a 1 billion dollar valuation Venture club. "(Xiao Ming)