Amazon drives Chegg out of rental market and to another loss

Chegg Q1 2016 Financial Highlights:

GAAP Revenue of $66.7 million, a decrease of 21% compared to Q1 2015;

** Pro forma Revenue of $46.8 million, an increase of 2% year-over-year;

**Required Materials Revenue of $41.1 million compared to $62.4 million in Q1 2015;

**GAAP Net Loss was $15.7 million; and

**$21 million: remaining Chegg textbook inventory. THERE ARE SOME BIG WRITE-OFFS COMING SOON. More water than ADC.

This is an opportunity for Follett to increase text revenue with Chegg exiting the market. Let's get this business!

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SKYO only went down after Burkman left. He was the Steve Jobs of SKYO!

Haha upwards trajectory ? If that was the case they wouldn't have purchased WOBO. If you can't beat them buy them, that strategy isn't working anymore

Idiots. The reason Skyo was shut down was because it wasn't profitable. The losses were stemmed before it became a disaster like what happened to Chegg. Why would we want to re-enter that business to take on more losses? This is clearly the problem... The boat is being rowed by a bunch of fools.

Skyo is alive and well. In fact, we just bought the the company WOBO,Inc to continue its upwards trajectory in the market.

Check it out www.skyo.com

Follett has turned the corner for success, well at least the retail side. FSS is in for a world of hurt.

"Follett to write off 49 million in junk books this year."

Seriously?

Follett shut down SKYO , they just cant compete with the likes of Amazon or Ebay in book rentals .

This is not new info. Chegg reported 2 quarter last FY that they would cease physical rental options. This gave plenty of time for Follett to create a plan around, what could possibly be, an actual increase in rental transactions. ...but alas, eyes were focused on tar and caulking a leaking ship. This boat has sailed, while Follett's boat was sinking.

Follett to write off 49 million in junk books this year .

Follett too busy buying junk books to compete with Amazon . Follett will soon get out of it just like Chegg . Just a matter of time .

Thread regarding Follett layoffs

Amazon drives Chegg out of rental market and to another loss

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