Chegg Acquires InstaEdu Tutoring Platform
Chegg, a company that provides study help and allows students to buy and sell textbooks online, will acquire InstaEdu, a company that provides a platform designed to connect students with on-demand tutors.
"Students have been coming to Chegg for years to get homework help using our Chegg Study service when they've been stuck on a subject or need help mastering a concept. Now, they'll have the ability to connect any time, day or night, with an expert tutor who can provide personalized assistance on practically any subject," said Dan Rosensweig, chairman and CEO of Chegg, in a prepared statement. "On-demand tutoring, anytime, anywhere, on any device is a very disruptive idea, and it's about time that high-quality tutoring was made affordable and accessible for all students through technology."
Chegg is acquiring the company, which claims to offer tutors for 2,500 high school and college subjects beginning as low as $0.40 per minute, for $30 million.
"InstaEdu has grown rapidly by connecting students who need immediate assistance, as well as those seeking regular one-on-one sessions with a specific tutor, via the student's choice of video, voice or text," according to a news release. "All of InstaEdu's tutors have been individually screened via InstaEdu's proprietary qualification system, and receive feedback from their pupils via a public rating system."
"We started this business because we recognized the opportunity to bring greater efficiency to a $60 billion global market through technology that makes one-on-one tutoring fundamentally more affordable and accessible for students anywhere," said Alison Johnston Rue, CEO of InstaEdu, in a prepared statement. "Combining with Chegg instantly gives our on-demand tutoring platform access to Chegg's network of 13 million high school and college students, and together we can move quickly to reduce the cost of learning and improve grades and graduation rates across the board."
Johnston Rue will lead Chegg's tutoring business.
More information is available at chegg.com.
Joshua Bolkan is the multimedia editor for Campus Technology and THE Journal. He can be reached at email@example.com.