The Netflix of textbooks wants to be the new Netflix of textbooks

Chegg made more than $200 million last year by renting out printed textbooks to college students but the company’s CEO wants to abandon this clearly lucrative business in favor of a digital model. Inspired by companies like Adobe and Netflix, CEO Dan Rosensweig wants to vastly improve the company’s margins by dropping the use of physical books in favor of digital ones which are infinitely more affordable to deal with. It’s a bold move, dropping a working model for a completely new one, but only time will tell if it was the right decision.