2020s Īs of March 2020, the company reported having 2.9 million subscribers to Chegg Services. The company reported that social security numbers and bank account information were not affected by the breach. The breach may have included data such as user names, Chegg passwords, email addresses, and shipping addresses. In September 2018, Chegg announced a data breach had occurred in April 2018 that may have involved 40 million active and inactive registered users. Chegg served as the exclusive rental outlet. In April 2017, Chegg and Pearson Education began a textbook rental partnership In the pilot program, the publisher Pearson made 50 editions of high-volume textbooks (both digital and print) available only to rent. In 2014, Chegg entered a partnership with book distributor Ingram Content Group to distribute all of Chegg's physical textbook rentals. Its IPO was reported to have raised $187.5 million, with an initial market capitalization of about $1.1 billion. Ĭhegg began trading shares publicly on the New York Stock Exchange in November 2013. 2010s įollowing a brief tenure by former Ask.com and CEO Jim Safka in 2009, former Guitar Hero CEO Dan Rosensweig was appointed CEO in 2010. In 2008, revenues were about $10 million in 2009, revenues for the month of January were reported as $10 million. It later added goods and student services through corporate acquisitions. After ending services unrelated to renting and purchasing textbooks, the company adjusted its business model to reflect that of Netflix's rental-based model, concentrating on renting textbooks to students, and Chegg expanded to a national market. Phumbhra and Rashid rebranded, launching Chegg, Inc. In February 2006, Carlson left the company. Some initial start-up funding was provided by Rashid. At that time, it offered scholarship searches, internship matching, and college application advice. The company was incorporated in 2005 by Carlson, Rashid, and Aayush Phumbhra. Ĭarlson then teamed with Iowa State MBA Osman Rashid, an avid user of the site who recognized its potential to disrupt the textbook market, which had "drastically outpaced the rate of inflation". Chegg is a combination of the words chicken and egg, and references the founders’ catch-22 feeling of being unable to obtain a job without experience, while being unable to acquire experience without a job. In October 2000, Iowa State University students Josh Carlson, Mike Seager, and Mark Fiddleke launched Chegg's forerunner, Cheggpost, a Craigslist-style message board for Iowa State students. The services provided by Chegg have been controversial because there have been reports of student cheating using Chegg services. As of March 2020, the company reported having 2.9 million subscribers to Chegg Services. The company was launched in 2006, and began trading publicly on the New York Stock Exchange in November 2013. It provides homework help, digital and physical textbook rentals, textbooks, online tutoring, and other student services. Chegg, Inc., is an American education technology company based in Santa Clara, California.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |