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$18.6 billion
- Today, his current net worth is estimated at $18.6 billion.
www.student.com › articles › 11-businesses-people-have-started-while-at-universityBusinesses Started By University Students | Student.com Blog
Jul 27, 2023 · With a net worth of $2.9 billion, Baiju Bhatt might be one of India’s most successful – and disruptive – American entrepreneurs. As the founder, former Co-CEO, and current Chief Creative Officer of brokerage app Robinhood, Bhatt’s influence on American business cannot be overstated.
Prior to founding Nectar, Phumbhra co-founded Chegg, the innovative solution to buying expensive textbooks. Phumbhra helped raise over $500 million in funding and evolved the company from a bootstrapped startup to a billion dollar publicly traded digital learning platform (NYSE: CHGG).
- Co-Founder And CEO
- Nectar, Nectar
May 3, 2023 · Carlson, Rashid, and Aayush Phumbhra were the three who incorporated Chegg in 2005.
- Kathryn Underwood
- Funding
- Partnership with Ingram
- What Does The Future Hold?
- How Has Chegg Changed The Education Landscape?
The company has had a flexible approach to funding throughout its history. The 2007 financing from Mike Maples brought in $2.2 million. In August 2008 Oren Zeev gave $4.7 million. In November 2009, a broad selection of investors, including Primera Capital, gave up to $57 million it is reported. One suggestion is thsat by 2010 $150 million had been ...
In August 2014, the company moved into a new partnership with Ingram Content Group. This meant that the new textbook side of the business would be marketed through Ingram, about 10% of the anticipated volume of textbook sales for the semester of Fall 2014. It had great benefits for the company in terms of reducing overhead costs, especially shippin...
Chegg is aiming to become a wholly digital company by 2017. Shipping and distribution are their major overhead costs and if they can cut this figure then they have the potential to become overwhelmingly more profitable, as well cutting their retail prices so that they will be more competitive. The Ingram partnership was the first step of this. By s...
Chegg has shown how education is shifting. Indeed, it has encouraged a shift to an online format. Students are now looking to Chegg for a range of different services. Tutoring can come together with book rental and advice. They have shown how you can have a one stop shop for all of these things and students like the convenience. They have also crea...
Jan 18, 2012 · Growth Spurt: Chegg, based in Santa Clara, Calif., employs 350 people and has seen revenue surge the last few years, from an estimated $10 million in 2008 to $25 million in 2009 to $130 million...
- Lisa Girard
May 4, 2013 · Profile. Aayush Phumbhra is the founder of Chegg, Inc. (founded in 2005) and Nectar, Inc. (founded in 2014). At Chegg, he held the title of Director in 2013. At Nectar, he is currently the Chief Executive Officer.
Jul 31, 2011 · Back in 2001, when he was studying in a B-school in Iowa, Aayush Phumbhra grappled with what he calls "the chicken and egg dilemma": how do students searching for their first job get one when most employers ask for work experience?
