Chegg IPO falls flat

After pricing its 15M-share IPO at $12.50 (above its price range), Chegg (CHGG) opened at $11 and is now trading at $10.70, down 14.4%.

The online textbook rental provider currently has a market cap of $941M. Concerns about e-textbook competition from Amazon, Apple, and Google could be weighing on investors' minds.

S-1, IPO preview

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Comments (1)
  • User 17781722
    , contributor
    Comment (1) | Send Message
    Rental model not original with Chegg, and quickly copied by every other retailer in the space, including B&N, Follettt and Indies. Did just get free access to a Chegg e-book as part of a Coursera class I'm taking...interesting opportunity there, but not enough to carry the day.
    13 Nov 2013, 11:10 AM Reply Like
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