Profile: Chegg Inc (CHGG.N)
20 Jul 2018
Chegg, Inc., incorporated on July 29, 2005, is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States. It also offers eTextbooks library for rent and sale. The Company also has live tutors on its connected learning platform available to students online, anytime, anywhere through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job.
The Company offers required materials, which include all products that are essential for students to meet the requirements of their coursework and Chegg Services include all other products it provides to supplement the requirements and help students with their coursework. Chegg Services also includes its marketing services, which help to complete its offering of services to students. The Company sources print textbooks, eTextbooks and supplemental materials directly or indirectly from a range of publishers in the United States. The Company offers two product lines: Required Materials and Chegg Services. The Company's Required Materials product line includes the rental and sale of print textbooks and eTextbooks, as well as the commission it receives from Ingram.
The Company's Web-based, multiplatform eTextbook Reader, eTextbooks and supplemental course materials were available from approximately 120 publishers, as of December 31, 2016. The Company offers its eTextbook Reader on a standalone basis or as a rental-equivalent solution and for free to students awaiting the arrival of their print textbook rental. The Company's Chegg Services for students include its connected learning platform, or the Student Hub, its test preparation service covering the American College Testing (ACT) and scholastic aptitude test (SAT) exams, online tutoring, its Chegg Study service, College Admissions, Scholarship Services and Internship Services. In addition, it offers enrollment marketing services to colleges, allowing them to reach interested college-bound high school students that use its College Admissions and Scholarship Services. Students pay to access Chegg Services, such as Chegg Study on a monthly or annual basis, while colleges subscribe to its enrollment marketing services and brands pay depending on the nature of the campaign.
The Company's eTextbooks obtained from Chegg are accessed through the Company's hypertext markup language 5 (HTML5)-Web-based eTextbook Reader. The Company's eTextbook Reader provides students with access to eTextbooks on personal computers, tablets and smart phones, providing access anytime, anywhere a student is connected to the Internet. Its eTextbook Reader enables navigation, keyword search, text highlighting, note taking and further preserves those notes in an online notepad with persistence of highlighting and notes across platforms. In addition to textbooks, it offers students access to other materials from publishers, professors, students and subject matter experts. This includes related materials, such as study guides, lab manuals or digital services provided by publishers, known as Whole Course Solutions or Integrated Learning Systems.
The Company, through its Chegg Study service, enables students to learn concepts on their own. For high demand print and electronic textbooks primarily in the sciences, technology, engineering, mathematics, statistics, business and economic, the Company offers Textbook Solutions, which are step-by-step answers to the questions at the end of each chapter in a student's textbook. For other questions, it offers Expert Answers service, where a student can ask a question on the Company's Website. The Company also offers live tutors on its connected learning platform. Students can access help online, anytime, anywhere either synchronously and asynchronously. Its tutors help students with a range of topics, including history, foreign languages, English literature, science, technology, engineering, mathematics and business, along with test preparation and a range of other subjects. It also offers students the ability to sell their textbooks, even if they were not originally purchased from the Company. As of December 31, 2016, it provided students access to approximately 340,000 internships with more than 122,000 employers across the country. Students search and apply for internships directly through its Website. Students can upload their resume to be matched by the Company for internship opportunities.
The Company competes with Yahoo! Answers, Brain.ly, Tutors.com, Varsity Tutors, Noodle Tools, Follett and Barnes & Noble Education, Amazon.com, Apple iTunes and Blackboard.
3990 Freedom Cir
SANTA CLARA CA 95054-1204
Company Web Links
- BRIEF-Chegg Acquired Writelab For About $15 Mln In All Cash Transaction
- BRIEF-Chegg Inc Says CEO Dan Rosensweig's Total 2017 Compensation Was $8 Million Versus $6.5 Million In 2016
- BRIEF-Chegg Reports Q1 Loss Per Share Of $0.02
- BRIEF-Chegg prices upsized offering of $300 mln of 0.25 pct convertible senior notes due 2023
- BRIEF-Chegg To Offer $250 Mln Of Convertible Senior Notes Due 2023