Chegg press release

Chegg press release DEFAULT

Pearson Sues Chegg, Alleging Copyright Infringement

Pearson Education, a textbook publishing giant, filed suit against the education technology company Chegg for allegedly infringing on Pearson’s copyright only a few months after a partnership between the two companies ended.

Pearson alleges that Chegg infringed on its copyright by selling answers to end-of-chapter questions included in Pearson textbooks. The answers are available to students via Chegg Study, an online tool that provides answers to thousands of homework questions for a monthly fee.

“Those answers are derived from and often copied directly from Pearson’s end of chapter questions themselves,” a press release from Pearson said.

The complaint, filed Monday in the District Court of New Jersey, seeks unspecified damages and a court order that would require Chegg to stop using answer sets derived from Pearson materials. The case could have implications for the entire study guide industry, said Jonathan Band, a lawyer and expert on intellectual property law.

“I​​t could undermine not only Chegg, but you have this entire industry of study guides, and the study guides are all based on existing texts and follow the general selection and arrangement of those texts,” Band said.

Chegg’s subscription base grew by 67 percent over the past year while many students attended classes online during the pandemic, Financial Times reported. Today, the company has 6.6 million users and an $11.1 billion market capitalization.

Pearson’s complaint lists 150 of its textbooks for which Chegg provides hundreds of thousands of answers, using language “copied or paraphrased from the original question,” the Pearson press release said. For example, Chegg Study lists more than 700 answers for questions from Campbell Biology, a popular biology textbook.

A Chegg spokesperson on Tuesday denied the company has violated Pearson’s copyright.

“Chegg will fight Pearson’s allegations vigorously and we believe we are in full compliance with copyright law,” the spokesperson wrote in a statement. “Chegg has been helping millions of students learn and thrive for many years, in compliance with copyright laws, creating a transformative digital learning platform that helps them learn more in less time and at a lower cost.”

Four years ago, the two companies partnered to provide 50 Pearson titles to students via Chegg through an online textbook rental program.

The Chegg spokesperson said that a partnership between the two companies ended on May 31 of this year. They declined to specify what partnership.

A Pearson spokesperson also declined to comment on the partnership Tuesday. “We’re not in a position to be able to comment on our current or former distribution agreements with Chegg,” the spokesperson said.

Currently, less than 10 percent of Chegg’s new subscriptions are generated from Textbook Solutions, the part of Chegg Study that includes Pearson end-of-chapter questions.

“Pearson’s content -- to which Pearson’s allegations relate -- was only ever a fraction of this Textbook Solutions content,” the Chegg statement said.

Band said determining copyright infringement can be tricky.

“Copyright protects expression, not ideas,” Band said. “On the extremes, it’s very easy to understand, but then there’s a gray area in the middle.”

The case is made even more complicated because it refers to nonfiction texts, which are often more difficult to claim as copyrighted material.

“In a history book or a chemistry book, there’s only a certain number of logical ways to present the material,” Band said. “The individual words or paragraphs -- that’s obviously protected. But if I’m just presenting the information in the same general way using my own words, you don’t want to give the first author a monopoly over the way to present information.”

The lawsuit reflects increased tension between the two companies. Pearson recently launched a subscription service that offers students access to thousands of textbooks for $14.99 per month, putting the publisher in more direct competition with Chegg, Financial Times reported.

Sours: https://www.insidehighered.com/news/2021/09/15/pearson-sues-former-partner-chegg-copyright-infringement

JWCA aDVISES Chegg inc. on its upsized $1 billion convertible and capped call, CONVERTIBLe repurchase and capped call unwind

AUgust 2020 | read press release

Transaction Background

Chegg Inc. successfully raised $1,000mm (inclusive of greenshoe) in the convertible market (upsized by 20%) at highly attractive terms (0.00% coupon and 37.5% conversion premium)

Chegg engaged J. Wood Capital Advisors to assist in the structuring, negotiation, documentation and execution of its transaction

JWCA provided extensive analysis for Chegg on deal structuring and related items, including:

  • Convertible structuring: redemption options and implications on overall economics

  • Derivative overlay: tax-integrated vs freestanding capped call

  • Accounting and tax analysis/implications

  • Convertible and capped call documentation to ensure maximum value and future efficiency/flexibility for the company

  • Syndicate structure and precedent data

  • Convertible repurchase analysis and considerations

  • Existing capped call unwind dynamics and analysis

  • Advice on timing and when to go to market

JWCA designed and ran a capped call auction process to achieve competitive terms

JWCA led the negotiation to unwind the existing capped call at Company-favorable terms

JWCA provided advice, support and analysis throughout the negotiation and execution

Results

Chegg’s convertible issuance was very well-received by investors

  •  The 0.00% coupon and 37.5% conversion premium represented the company-friendly end of the coupon and conversion premium ranges

  • Chegg was able to achieve the first ever zero-coupon for a 6-year maturity

  • Due to strong investor demand, the deal was upsized 20% from $750mm launch size

Chegg extinguished $172mm of its existing $345mm 0.25% convertible notes due 2023 simultaneously with the offering at attractive pricing, paying par in cash and upside in shares

Chegg’s stock price was only down -1.9% on pricing day despite raising nearly 10% of the Company’s market cap (compared to an average stock price decline of –2.9% for +$500mm technology convertibles issued since Q2 2020)

Capped call documentation and auction process produced meaningful savings for Chegg, while maximizing flexibility for the Company

Sours: https://www.jwoodcapital.com/chegg-case-study-august-2020
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Chegg

American education technology company

Chegg, Inc., is an American education technology company based in Santa Clara, California. It provides digital and physical textbook rentals, textbook solutions, online tutoring, and other student services.[2]

The company was launched in 2005, and began trading publicly on the New York Stock Exchange in November 2013. As of March 2020, the company reported having 2.9 million subscribers to Chegg Services.[3]

History[edit]

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.[4][5]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.[6]

Carlson 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".[7] The company was incorporated in 2005 by Carlson, Rashid, and Aayush Phumbhra.[5] At that time, it offered scholarship searches, internship matching, and college application advice.[2] Some initial start-up funding was provided by Rashid.[8]

In February 2006, Carlson left the company.[8] Phumbhra and Rashid rebranded, launching Chegg, Inc. in December 2007, with Rashid as CEO. After ending services unrelated to renting and purchasing textbooks,[5] the company adjusted its business model to reflect that of Netflix's rental-based model, concentrating on renting textbooks to students,[6][9] and Chegg expanded to a national market.[10] It later added goods and student services through corporate acquisitions.[10]

In 2008, revenues were about $10 million; in 2009, revenues for the month of January were reported as $10 million.[11]

Following a brief tenure by former Ask.com and Match.com CEO Jim Safka in 2009,[12] former Guitar Hero CEO Dan Rosensweig was appointed CEO in 2010.[13]

Chegg began trading shares publicly on the New York Stock Exchange in November 2013.[14] Its IPO was reported to have raised $187.5 million, with an initial market capitalization of about $1.1 billion.[15]

In 2014, Chegg entered a partnership with book distributor Ingram Content Group to distribute all of Chegg's physical textbook rentals.[16][17]

In April 2017, Chegg and Pearson Education began a textbook rental partnership;[18] In the pilot program, the publisher Pearson made 50 editions of high-volume textbooks (both digital and print) available only to rent. Chegg served as the exclusive rental outlet.[18]

In September 2018, Chegg announced a data breach had occurred in April 2018 that may have involved 40 million active and inactive registered users. The breach may have included data such as user names, Chegg passwords, email addresses, and shipping addresses. The company reported that social security numbers and bank account information were not affected by the breach.[19]

As of March 2020 the company reported having 2.9 million subscribers to Chegg Services.[3]

In June 2021, Chegg unveiled Uversity, a new educational plaftorm that will provide a space for professors and other educators a place to share content.[20]

Acquisitions[edit]

In 2010, Chegg made its first acquisition, purchasing CourseRank,[21] which was disabled in 2014.[22] In the same year, Chegg also acquired Cramster, a provider of online homework help,[23] and Notehall, an online marketplace for class notes.[24]

In 2011, Chegg acquired Zinch, a scholarship search and networking service for high school students and college recruiters, and continues to offer the service, under the Chegg brand name.[25] Chegg acquired software company 3D3R in late 2011 to develop its digital textbook product, kickstart its mobile product group, and open an engineering office in Rehovot, Israel.[26] In June 2014 Chegg acquired online tutoring platform InstaEDU, for a reported $30 million,[27] renaming the division Chegg Tutors,[22][28] and in October 2014 it acquired Internships.com.[citation needed]

Chegg acquired Imagine Easy Solutions, a provider of online bibliography and research tools, for a reported $42 million, in 2016.[29] In 2017, the company acquired Cogeon GmbH, a German math education provider, for $15 million cash;[30]

In 2018, Chegg acquired WriteLab, which uses AI to analyze text and suggest improvements,[31][32] and online flash card tool StudyBlue.[33][34][35]

During late 2019, Chegg acquired online coding school Thinkful,[36] for $80 million cash.[37]

Leadership[edit]

Chegg headquarters in Santa Clara

As of 2021, Chegg's board of directors consists of:

  • Dan Rosensweig, co-chair, president and CEO at Chegg
  • Sarah Bond, Microsoft Corporation
  • Richard Sarnoff, co-chair at Chegg; chair at KKR & Co.
  • Renee Budig, EVP and CFO at CBS Interactive
  • Melanie Whelan, Summit Partners[38]
  • Marne Levine, VP at Facebook
  • Ted Schlein, partner at Kleiner Perkins
  • Jed York, co-chair at San Francisco 49ers
  • Paul J. LaBlanc, president at Southern New Hampshire University[39]

Academic dishonesty[edit]

Some services offered by Chegg have been repeatedly documented as being problematic.[40] These services include homework help where Chegg experts solve homework questions for students.[41] Academic file-sharing[42][43] also occurs in the form of students posting homework question sheets soliciting answers. Academic file-sharing has been documented as being a form of violation of academic integrity at many schools.[44]

In February 2019, Chegg formed a partnership with Purdue University's Online Writing Lab (OWL), to make online educational writing tools more accessible to its students.[45] The affiliation was met by some faculty criticism, alluding to Chegg helping students cheat;[40] OWL director Harry Denny reported that he did not expect Purdue's reputation to suffer as a result, citing that “My experience has been that the company is committed to partnering with faculty and administration to address their concerns."

A report published by Citron Research in July 2019 claims that "Chegg has created forums to circumvent Turnitin, proving that Chegg is helping users continue institutionalized cheating".[46]

During the 2020 COVID-19 pandemic, controversy around Chegg and companies offering similar services escalated, as many students had to learn from home with uncensored internet access.[43][47] For example, Georgia Tech alerted students in a physics class that certain students in the class had cheated on their online final exam by using answers posted on Chegg,[47] certain students in a chemistry class at Boston University were found to have similarly cheated on an online exam,[48] students from two chemistry classes at the University of British Columbia were accused of using Chegg for cheating on exams, including using two incorrect answers posted on Chegg,[49] and solutions to a physics exam at Washington University in St. Louis were posted on Chegg during the exam period.[50] Chegg cooperated with the investigations.[47][48][50] A study published in 2020 has found that Chegg answers student questions even though the questions have clear cues to indicate that the student is trying to buy answers for a current assessed activity — the questions are neither identified nor flagged as violations of academic integrity anywhere in the process.[51]

Chegg Services and textbook rentals[edit]

By 2016, textbook rentals and student services were about even in company revenues;[52] by 2018, Chegg Services reported 3.1 million subscribers,[53] with services accounting for 79% of revenue. Students may search for both scholarships and internships on the website, and typically pay to access Chegg Services, such as Study, Advanced Writing, Tutors, and Math Solver, on a monthly basis.[52]

Music 101[edit]

Chegg sponsors music instruction contests for colleges in a program named Music 101. These conclude with live classroom instruction by noted music artists, and a $10,000 grant from its David B. Goldberg Music Scholarship fund for the winning school music department. In 2019, the company launched its ninth annual Chegg Music 101 campaign featuring YUNGBLUD. Previous events have featured U2, Imagine Dragons, Taylor Swift, Ed Sheeran, Shawn Mendes, Steve Aoki, and Liam Payne.[54][55]

See also[edit]

References[edit]

  1. ^"2018 Annual Report"(PDF). Chegg. Retrieved October 27, 2019.
  2. ^ abSharma, Asit (2018-03-22). "Is It Time to Take a More Serious Look at Chegg, Inc.? -". The Motley Fool. Retrieved 2019-05-02.
  3. ^ ab"Chegg Reports First Quarter 2020 Financial Results"(press release). Business Wire. May 4, 2020. Retrieved August 5, 2020.
  4. ^"Auction site connects buyers and sellers" by Nate Engelberth; Iowa State Daily; October 19, 2000.
  5. ^ abcPederson, Jay P., editor. (2013). International directory of company histories. St. James Press. p. 115. ISBN . OCLC 833188977.CS1 maint: multiple names: authors list (link)
  6. ^ abMiguel Helft (July 4, 2009). "We Rent Movies, So Why Not Textbooks?". The New York Times. Retrieved 2010-01-26.
  7. ^"Fast-Growing Chegg Aims for High Marks with Students" by Lisa Girard; Entrepreneur; January 18, 2012.
  8. ^ ab"How Chegg Has Turned Education Upside Down" by Nat Berman; Money Inc; November 7, 2016.
  9. ^Julie Schmit (2009-01-12). "Chegg CEO Rashid applies Netflix concept to textbooks". USA Today. Retrieved 2010-01-26.
  10. ^ ab"Apple Creates New Wrinkle In Start-Up's Plan To Disrupt Textbook Industry" by Helen Coster; Forbes; January 25, 2012
  11. ^Miguel Helft (July 4, 2009). "We Rent Movies, So Why Not Textbooks?". The New York Times. Retrieved 2010-01-26.
  12. ^"Rosensweig Lands at Textbook Renter Chegg.com" by MIGUEL HELFT; The New York Times; FEBRUARY 2, 2010.
  13. ^McNicholas, Kym. "Dan Rosensweig: His Journey From Yahoo To Guitar Hero Then Chegg". Forbes. Retrieved 2019-06-12.
  14. ^De La Merced, Michael (12 November 2013). "Chegg Prices Its I.P.O. at $12.50 a Share".
  15. ^"Chegg stock stumbles after IPO tops targets".
  16. ^Merced, Michael J. de la (2014-08-04). "Chegg Finds Partner to Handle Its Textbooks". The New York Times. ISSN 0362-4331. Retrieved 2019-02-27.
  17. ^"Chegg Strikes Distribution Partnership With Ingram Books, Announces 15% Boost In Earnings From Digital Services".
  18. ^ ab"Pearson to partner with Chegg on textbook rentals | The Bookseller". www.thebookseller.com. Retrieved 2017-09-26.
  19. ^"CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934". Security and Exchange Commission. Retrieved 29 September 2018.
  20. ^Greig, Jonathan. "Chegg unveils new 'Uversity' content platform for US teachers". ZDNet. Retrieved 2021-06-14.
  21. ^"TC Teardown: Chegg Is A Money Machine". June 5, 2018.
  22. ^ abCao, Vincent (2014-11-10). "CourseRank to be taken down at the end of the month". The Stanford Daily. Retrieved 2019-06-12.
  23. ^"Exclusive: Chegg Buys Cramster".
  24. ^"SEC filing cracks the egg on Chegg's Notehall purchase".
  25. ^"Chegg Buys Zinch in Another Move Toward a "Social Education Platform"".
  26. ^"Chegg Acquires Software Company Flux / 3D3R, SEC Filing Reveals". TechCrunch. Retrieved 2020-06-14.
  27. ^Kolodny, Lora (2014-06-04). "Chegg Acquires Tutoring-On-Demand Site InstaEDU in $30M Cash Deal". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-02-27.
  28. ^"Chegg buys InstaEDU in transition away from book rentals", by Erin Griffith; Fortune; March 6, 2013.
  29. ^Lardinois, Frederic. "Chegg acquires Imagine Easy Solutions, the company behind EasyBib, BibMe and Citation Machine". TechCrunch. Retrieved 2017-05-06.
  30. ^Sharma, Asit (2018-03-22). "Is It Time to Take a More Serious Look at Chegg, Inc.? -". The Motley Fool. Retrieved 2019-05-31.
  31. ^Sternlicht, Alexandra. "His Company WriteLab Was Acquired by Chegg Before He Turned 30". Forbes. Retrieved 2019-05-03.
  32. ^"Chegg Cuts $15 Million Check to Buy AI-Feedback Tool, WriteLab - EdSurge News". EdSurge. 2018-05-16. Retrieved 2019-05-03.
  33. ^"Chegg Enhances Content And Flash Card Tools Offering With Acquisition Of StudyBlue, To Increase Value for Students And Expand Addressable Market". investor.chegg.com. Retrieved 2019-10-02.
  34. ^Zacks, Contributor Zacks Equity Research. "Chegg (CHGG) Acquires StudyBlue, Bolsters Content Offering". www.nasdaq.com. Retrieved 2020-03-27.
  35. ^"Chegg Acquires StudyBlue | Vista Point Advisors". vistapointadvisors.com. Retrieved 2020-03-27.
  36. ^"Chegg to Acquire Coding Boot Camp" by Lindsay McKenzie; Inside Higher Ed; September 5, 2019.
  37. ^"Chegg To Acquire Online Skills-Based Learning Platform Thinkful To Help Students Accelerate Their Path From Learning To Earning"; Reuters; September 4, 2019.
  38. ^"Chegg appoints Melanie Whelan to Board of Directors". www.wrcbtv.com. Retrieved 2019-06-12.
  39. ^"Chegg appoints Dr. Paul J. LeBlanc to Board of Directors". Chegg, Inc. Retrieved July 29, 2019.
  40. ^ abMckenzie, Lindsay (March 12, 2019). "The Wrong Partnership?". InsideHigherEd.com. Retrieved November 19, 2019.
  41. ^"Contract cheating by STEM students through a file sharing website: a Covid-19 pandemic perspective". International Journal for Educational Integrity. 2021. doi:10.1007/s40979-021-00070-0. Retrieved Mar 23, 2021.
  42. ^Rogerson, A. M., & Basanta, G. (2016). Peer-to-peer file sharing and academic integrity in the Internet age. In T. Bretag (Ed.), Handbook of Academic Integrity (pp. 273-285). Singapore: Springer.
  43. ^ abEaton, S. E. (2020). Academic Integrity During COVID-19: Reflections from the University of Calgary. International Studies in Educational Administration, 48(1), 80-85. Retrieved from https://prism.ucalgary.ca/handle/1880/112293
  44. ^Blau, Ina; Goldberg, Shira; Friedman, Adi; Eshet-Alkalai, Yoram (2020-07-22). "Violation of digital and analog academic integrity through the eyes of faculty members and students: Do institutional role and technology change ethical perspectives?". Journal of Computing in Higher Education. 33: 157–187. doi:10.1007/s12528-020-09260-0. ISSN 1042-1726. PMC 7375033. PMID 32837125.
  45. ^Pratt, Kati (February 6, 2019). "The Purdue University Online Writing Lab and Chegg Partner to Make World-Class Writing Education Tools More Accessible". Purdue.edu. Purdue University. Retrieved November 19, 2019.
  46. ^"Institutionalized Cheating is No Longer OK". citronresearch.com. 22 March 2019.
  47. ^ abcDowney, Maureen (May 4, 2020). "Georgia Tech warns physics students who cheated: Admit it or risk failing". The Atlanta Journal-Constitution. Retrieved August 5, 2020.
  48. ^ abPirog, Allison (April 28, 2020). "Chemistry and physics departments looking to limit cheating". The Daily Free Press. Retrieved August 5, 2020.
  49. ^"UBC warning students of cheating consequences - NEWS 1130".
  50. ^ abButler, Jayla (April 15, 2020). "Arts & Sciences investigates Physics 192 academic integrity breach". Student Life. Retrieved August 5, 2020.
  51. ^"Contract Cheating in Computer Science: A Case Study"(PDF). 2020 IEEE International Conference on Teaching, Assessment, and Learning for Engineering (TALE). IEEE Xplore. December 2020. pp. 91–98. doi:10.1109/TALE48869.2020.9368454.
  52. ^ ab"CHEGG: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K)"; Marketscreener; February 25, 2019.
  53. ^"Chegg (CHGG) Tops Q4 Earnings Estimates, Raises '19 View"; Yahoo! Finance; February 12, 2019.
  54. ^"Chegg Looking For A Come-Up In School Contest"; InsideRadio; September 1, 2015.
  55. ^"Vote to bring Chegg Music 101 with YUNGBLUD to your school"; WN.com; September 16, 2019.

External links[edit]

Sours: https://en.wikipedia.org/wiki/Chegg
Chegg CEO: Online education is the 'wave of the future'

1 Game-Changing Number You Missed From Chegg's Earnings

Chegg(NYSE:CHGG) the digitally based textbook rental company is also an online tutor of sorts used by millions of high school and college students worldwide. The company is experiencing a surge of interest and usage since the pandemic when the whole world went to remote learning. Understandably so. When campuses closed, students lost many of the resources they had access to on campus, like visiting professors in person during their office hours.

While many professors maintained office hours virtually, the quality of help delivered is not as good as in person. It's no surprise then that students are seeking supplemental sources of help for their curriculum coursework. Chegg reported first-quarter results in early May, and there's a transformative number related to this increased need that you probably missed.

A woman studying at her desk.

Image source: Getty Images.

A treasure trove of assets

Even as schools in some parts of the world are beginning to bring students back for in-person learning, customer interest in Chegg remains high, partly because millions of students are still learning remotely and partly because of this one thing you likely missed from the earnings report -- content. 

In a presentation that accompanied its first-quarter earnings release, Chegg management said the company had 59 million pieces of supplementary content. This can mean a solution to a practice problem from a textbook -- of which it has 6 million. Or, more valuable, it can be questions asked by subscribers on its platform. As part of a subscription to Chegg, students get to ask 20 questions to subject matter experts on Chegg.com. Those questions and the step-by-step solutions are then placed on the platform, and all subscribers get access to them. That type of content makes up the rest (53 million).

Given that students have been using Chegg a lot this past year, Chegg has accumulated new and updated content from these students asking questions and getting them solved. In all, Chegg has added 22 million questions and answers since the first quarter of last year (May 2020). That's an increase of 60%. And that's the most relevant type of content. That's the help for concepts that students around the world are grappling with today. 

What this could mean for investors 

This content acts as a customer acquisition tool. Chegg paid for it once but generates value from it for years. New students enter mostly the same courses year after year. For example, Introductory Economics stays mostly the same, but every semester an entirely new group (hopefully) of students will register for the course.

Additionally, as it builds out its content library, the service becomes more valuable to the new group of students going through university. That dynamic has the potential to expand profits exponentially. Indeed, you can see its operating profit margin expanding nicely over time (see chart). The choppiness is due to the seasonality of the education business. 

A chart showing Chegg's operating profit margin over time.

Data source: YCharts

The stock is being swept up in the recent general selling off of growth stocks and is trading down about 20% in the last month. It's now trading at a now more reasonable forward price to sales ratio of 13. Investors looking for a growth stock with excellent long-term prospects might want to consider adding Chegg to their portfolios. 

Sours: https://www.fool.com/investing/2021/05/24/game-changing-number-missed-chegg-q1-earnings/

Press release chegg

Chegg acquires Imagine Easy Solutions, the company behind EasyBib, BibMe and Citation Machine

The online textbook service Chegg today announced that it has acquired Imagine Easy Solutions for $42 million.

Imagine Easy is the company behind online bibliography and research tools like EasyBib (which was also its first product) and similar tools like Citation Machine, BibMe and Cite This For Me, most of which it acquired in the last couple of years. Imagine Easy also offers teaching tools for helping students develop reading and writing skills through its Imagine Easy Academy and Imagine Easy Scholar products.

Chegg will pay $25 million up front and $17 million in deferred payments — with another $18 million of potential payments over the next three years that depend on whether the team meets its goals.

In the last 12 months, Imagine Easy’s bibliography and research tools powered about 240 million sessions and EasyBib alone saw more than 7 million unique users in March 2016, Chegg tells me. In total, all of these services together have helped students from mangling more than 1.4 billion bibliography entries.

Imagine Easy’s business model is based on a mix of subscription fees and revenue from online advertising on its sites.

2016-05-02_1209

Chegg makes it easy to buy, rent and sell textbooks and e-textbooks online. But sooner or later, some pesky professor (or, these days, more likely a teaching assistant or adjunct), is going to ask you to do some research and write a paper based on what you’ve learned. To make matters worse, you’ll probably have to attach a bibliography, too. Thankfully, tools like EasyBib make that pretty easy these days, so you don’t really have to worry about the difference between Chicago-style, APA-style and MLA-style bibliographies anymore.

While these tools are clearly Imagine Easy’s most visible services, Chegg today noted that the company’s tools for teaching writing skills are also an important reason for acquiring the service.

“We know that writing is one of the biggest pain points for students today, with about one quarter of all college freshmen required to take remedial writing courses and employers rating less than 30% of recent graduates as being well prepared written communicators,” said Dan Rosensweig, Chairman and CEO of Chegg, in today’s announcement. “Inability to write at the college level is a leading indicator of which students will eventually drop out, a situation that adversely impacts both the student and the school. With this acquisition, Chegg now has the ability to serve the millions of students who depend on writing help every day, in particular those students required to take remedial writing classes.”

Sours: https://techcrunch.com/2016/05/02/chegg-acquires-imagine-easy-solutions-the-company-behind-easybib-bibme-and-citation-machine/
Chegg Study Experience

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