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Chegg

#8331

Rank

$171.06M

Marketcap

US United States

Country

Chegg
Leadership team

Mr. Daniel Lee Rosensweig (Co-Chairman, CEO & Pres)

Mr. Andrew J. Brown (Chief Financial Officer)

Mr. Nathan Schultz (Chief Operating Officer)

Products/ Services
Education, Higher Education, Textbook
Number of Employees
1,000 - 20,000
Headquarters
Santa Clara, California, United States
Established
2005
Company Registration
SEC CIK number: 0001364954
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
CHGG
Social Media
Overview
Location
Summary
Chegg, Inc. operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks. Its subscription services include Chegg Study, which helps students master challenging concepts on their own; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various Chegg Services product offerings, including Chegg Study, Chegg Writing, and Chegg Math Solver services, which creates an integrated platform of connected academic support services; Busuu, an online language learning solution that offers a comprehensive solution through a combination of self-paced lessons, live classes with expert tutors, and the ability to learn and practice with members of the Busuu language learning community; and Thinkful, a skills-based learning platform that offers professional courses along with networking, interviewing, and career services. The company also provides other services, such as Chegg Life, Chegg Prep, and Chegg Internships; provides personal and professional development skills training; and rents and sells print textbooks and eTextbooks. Chegg, Inc. was incorporated in 2005 and is headquartered in Santa Clara, California.
History

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. 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.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". The company was incorporated in 2005 by Carlson, Rashid, and Aayush Phumbhra. At that time, it offered scholarship searches, internship matching, and college application advice. Some initial start-up funding was provided by Rashid.In February 2006, Carlson left the company. Phumbhra and Rashid rebranded, launching Chegg, Inc. in December 2007, with Rashid as CEO. 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. It later added goods and student services through corporate acquisitions.In 2008, revenues were about $10 million; in 2009, revenues for the month of January were reported as $10 million.Following a brief tenure by former Ask.com and Match.com CEO Jim Safka in 2009, former Guitar Hero CEO Dan Rosensweig was appointed CEO in 2010.Chegg began trading shares publicly on the New York Stock Exchange in November 2013. Its IPO was reported to have raised $187.5 million, with an initial market capitalization of about $1.1 billion.In 2014, Chegg entered a partnership with book distributor Ingram Content Group to distribute all of Chegg's physical textbook rentals.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 available only to rent. Chegg served as the exclusive rental outlet.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.As of March 2020 the company reported having 2.9 million subscribers to Chegg Services.In June 2021, Chegg unveiled Uversity, a new educational platform that will provide a space for professors and other educators to share content. In the same year, Chegg partnered with Varkey Foundation to launch Global Student Prize to recognise outstanding students that make an impact to local or international communities.

Mission
Here at Chegg, we put students first. No matter what, our goal is to ensure that we help students save time, save money, and get smarter!
Vision
Our mission and vision around continuous learning from and developing each other and our careers.
Key Team

Ms. Esther Lem (Chief Marketing Officer)

Mr. John Paul Fillmore (Pres of Chegg Skills)

Mr. David Longo (VP, Chief Accounting Officer, Corp. Controller & Assistant Treasurer)

Ms. Tracey Ford (VP of Investor Relations)

Mr. Woodie Dixon Jr. (Gen. Counsel & Corp. Sec.)

Ms. Debra Thompson (Chief People Officer)

Ms. Heather Hatlo Porter (Chief Communications Officer)

Recognition and Awards
Chegg won 18 awards in 2022 and 17 awards in 2021. In 2022, Chegg won for Best Company for Diversity 2022, Best Company for Women 2022, Best CEO 2022, Best Company Culture 2022, Best Company Perks & Benefits, Best Company Work-Life Balance, Best Company Compensation, Happiest Employees, Best Leadership Teams 2022, Best CEOs for Diversity 2022, Best CEOs for Women 2022, Best Operations Team 2022, Best Marketing Team 2022, Best Engineering Team 2022, Best Product & Design Team 2022, Best Places to Work in the Bay Area 2022, Best Global Culture 2022 and Best Company Outlook 2022. In 2021, Chegg won for Best Company for Diversity 2021, Best Company for Women 2021, Best CEO 2021, Best Company Culture 2021, Best Company Work-Life Balance, Best Company Happiness, Best Leadership Teams 2021, Best CEOs for Diversity 2021, Best CEOs for Women 2021, Best Product & Design Team 2021, Best Operations Team 2021, Best Marketing Team 2021, Best HR Team 2021, Best Engineering Team 2021, Best Places to Work in the Bay Area 2021, Best Global Culture 2021 and Best Company Outlook 2021. Based on 17,583 ratings and 618 participants, employees at Chegg are very satisfied with their work experience. The overall culture score, 86/100 or A+, incorporates employee ratings based on their feedback on the Environment, CEO Rating, Gender and more.
References
Chegg
Leadership team

Mr. Daniel Lee Rosensweig (Co-Chairman, CEO & Pres)

Mr. Andrew J. Brown (Chief Financial Officer)

Mr. Nathan Schultz (Chief Operating Officer)

Products/ Services
Education, Higher Education, Textbook
Number of Employees
1,000 - 20,000
Headquarters
Santa Clara, California, United States
Established
2005
Company Registration
SEC CIK number: 0001364954
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
CHGG
Social Media