Venture capital-backed online textbook rental business Chegg has filed to raise $150m in an initial public offering.
Chegg posted a net loss of $21.2m on revenues of $116.9m in the first half of 2013 according to a document filed with US securities regulators.
JP Morgan, Jefferies, Bank of America Merrill Lynch, Piper Jaffray, Raymond James and BMO are acting as bookrunners for the IPO, the filing showed.
Chegg’s backers include Foundation Capital, Gabriel Ventures, Kleiner Perkins Caufield & Byers and Insight Venture Partners, which led its $57m Series D round.
The firms did not reveal how many shares they were looking to sell.
Chegg offers millions of physical and digital textbooks for students as well as online homework help, course organization and scheduling and college and university matching tools.
Copyright © 2013 AltAssets