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Chegg CEO: Nope, no tech bubble
Daniel Rosensweig, president and CEO of the textbook renter Chegg (NYSE: CHGG), does not see a bubble in the tech public markets. He attributes that to the fact that most companies aren't even being valued in the first place.
"You hear about the high valuation companies but not about the thousands that aren't getting valuations because most aren't," the former Yahoo (NASDAQ: YHOO) COO told CNBC's " Squawk on the Street " on Friday.
"The few that are, are the ones you expect Facebook (NASDAQ: FB) or Google (NASDAQ: GOOGL) to buy."
In private markets, Rosensweig said that there isn't "as big a bubble as people think" and now companies can show through their financials that they are "earning their way into the markets as public companies."
"I think what we've seen is a real separation of winners and losers," he said. "So you have to be in a big category, you have to be a platform, you have to have a form monetization, and you have to be pure digital because that is where all the profits come from."
Chegg shares got a boost earlier this week when the company announced that it would hand-off its physical book rental service and go completely digital.
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