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Chegg Looks to Help Students Save a Fortune on Textbooks

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  • Description

    Chegg CEO Dan Rosensweig on offering services and etextbook's to students.

  • Duration 3:07
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Antiquated study of that OK so -- talk about breaking the bank.

The College Board reporting that the average students at a private four year college.

It's been over 1000 dollars on textbooks in 2011 to 2012 school year but our next guest trying to take -- staying out of that textbook sticker shock.

Dan Rosensweig -- CEO and president of -- he joins us now thanks for being with Dan how's business now -- the back to.

School season it's booming and so it's what happens in our business over the course of this month the business doubles every week.

So we're we're almost at peak about two weeks from now have the biggest -- be right around August 23.

We'll probably be the biggest day of the season but it's growing quite enormously right now how many college students or download books on -- need to get get.

Well actually most them don't wanna download textbooks are -- still ramp up print copy of the textbooks.

3% of the business.

But approximately our estimate this year's about 30% of all college students will do something with -- whether it's our.

Homework help whether it's right textbook whether -- class notes.

Class scheduling all the different services that we offer -- getting pretty big right now.

Now book publishers are just short of.

So anti technology and so terrified.

By that Napster like wave that could do to them what what it did to the music business.

How did you manage to get these guys to agree to let you start offering electronic version of their textbooks are just doing that on your own without -- Well we can't do that are without asking we can -- the -- rental business which we did you want -- without asking but what's happened is it is it original channels of distribution are beginning to collapse and we have -- Easiest investor relationships with students so they give us the textbooks because it in in -- textbook case.

We get to the students more efficiently and the publisher gets all the profits so it's it's a very good situation for the publishers and distribute -- and -- And quote what you what what's that often visually appear and they say take this company public I imagine you're here in part -- to sell yourself in the company seeking get filthy rich.

It well I'm here to make sure that students can save a fortune on textbooks because as you probably know.

54% of all students graduate with about 25000 dollars -- debt now.

So -- and censor anything we can do to lower the price of education is a good thing yeah as a relates to going public that's a question for the future I think coming.

I think the public markets are confusing right now for people.

We have play capital we have great financial backers -- we don't have to do anything except keep growing the business right now.

You know let's -- the Yahoo! -- president and CLO.

Of Yahoo! at a time when its sales went from really small to like billions of dollars.

And then they went on bad times it never seem to go away what are you thinking about it lately deal on the stock would you buy it.

Well I I wouldn't.

Buyer sell the stock I'm very excited about Marisa Mayer though I think that with the new board of directors a whole new -- the company of focus on product.

Vs ability to not only improve the product -- to recruit really talented people back into the company.

Which is what it takes I think gives Yahoo! -- chance to be successful again in a way that really hasn't had that opportunity in the last five or six years so.

I'm bullish on her mind got a bullish on her ought -- thank you very much for being -- -- -- and good luck with Chad.

Thank you very much.

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