CHEGG, INC (CHGG) is an American-based educational technology company that offers online tutoring, digital and physical textbook rentals, as well as other student services. The company was created in 2005 and is headquartered in Santa Clara, California. The name "Chegg" is actually a contraction of “chicken” and “egg,” reflecting the founders' mission to solve the chicken-and-egg situation students face upon graduation; whether to get a job to gain experience or stay in school to further their education.
CHEGG's core business revolves around providing online assistance to students. Their services include offering step-by-step solutions to textbook problems, offering tutoring and homework help, and a Q&A section where students can ask any academic question and receive an answer from experts. Perhaps, their most popular service among students is the cheaper digital and physical textbook rentals and sales, a bid aimed at taking the sting out of traditionally high textbook prices.
Over the years, CHEGG has significantly improved and expanded its services. In 2010, they added a course selection and schedule-building tool, and later introduced a service that matches students with scholarships. They even ventured into the world of test prep, offering resources and coaching for college and graduate-school entrance exams, among others.
CHEGG's services have become particularly vital amid the Covid-19 pandemic, as learning shifted to online platforms and students found themselves in need of extra assistance. This resulted in a spike in the number of subscribers and boosted the company's revenue. As of 2020, they had a reported 6.6 million subscribers.
There are criticisms of CHEGG, though, as some argue that the platform may encourage cheating among students. Others cite privacy concerns, as the service requires a fair amount of personal student information. Nevertheless, CHEGG has maintained its focus on providing beneficial academic services.
In the stock market, CHGG has been performing relatively well. In 2020, its share prices increased by about 120% and the company's future looks sound given the continuing demand for online learning tools.
In accordance with their goal to make learning more accessible, CHEGG has made education more adaptable to the modern age, making its contributions to the academic field incredibly noteworthy.