Textbook rental site Qi grid for $25 million third round of venture capital

December 18th news according to foreign media reports, the textbook rental site zieg network (Chegg.com) announced yesterday in the KPCB (Kleiner Perkins Caufield & Byers) and FC (Foundation Capital) under the help of the successful completion of the third round of financing, involving an amount of $25 million.

zieg network founder and CEO Osman Rashid said Qi grid in July 2007 in California, Santa Clara in the beginning of its textbook rental service, in the past year and a half, through 53 questionnaires proves the feasibility of this scheme, including whether the students want to rent textbooks, possible fraud is a threat to the company the operation. But it doesn’t mention too many details of the success, but says it has saved about $16 million for students at more than 4 thousand universities this year. The success of the grid is not surprising, because it can save students 65%-80% book fees, and in today’s economic downturn, the price of the book is even more attractive. It is reported that Qi said that each grid rent out a book on planting a tree, so far, the site has funded more than and 150 blocks of tree planting.

The success of

homogeneous network textbook rental model is obvious, but Rashid hopes to compete in the industry as soon as possible. At the same time, he said not to worry about competition, because the company has an excellent team, will also further improve the service system, but he did not disclose the details of the perfect.

had previously said that KPCB would not invest in the current economic crisis, not to mention the amount of such a huge. In fact, the original investors Gabriel Venture Partners and Primera Capital also participated in the current round of investment in the grid. Previously, the network has received a $2 million 200 thousand investment.

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