Chegg 2014 Annual Report Download - page 3
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Andfinally,wepartneredwiththeIngramContentGrouptotransformourprint
textbookbusinessmodelbytransitioningallresponsibilitiesfortextbook
procurement,warehousingandlogisticstoIngram.Thistransformationwillallow
ustofocusmoreongrowingourhighermargindigitalserviceswhilecontinuingto
offerourhighlyvaluedtextbookrentalbusiness,andreceiveallthebenefitsfrom
beingthetextbookrentalproviderofchoicetostudents.
WebelievethesechangespositionCheggtobecomeapuredigitalrevenuebusiness
bytheendofwithhighgrowth,highmarginandhighcashflow.
Asweenter,webelievewearebetterpositionedthanevertodriveincreased
customerandstockholdervalueandlookforwardtoreportingourprogressalong
theway.Thankyouforyourcontinuedsupport.
Sincerely,
DanRosensweig,President&CEO