Chegg, Inc. (CHGG) is known for its “students first” mandate, providing low-cost educational support services for university and college students, and also providing textbooks at a low cost. Services, referred to as Chegg Services, consist of “Chegg Study, Chegg Writing, Chegg Tutors, Chegg Math Solver, Thinkful, and Mathway”. The other area of business, that the company refers to as Required Materials consists of low-cost textbook sale/rentals and also eTextbooks. Chegg partners with several third parties, including MacMillan, McGraw Hill, and Cengage Learning.
Being an online educational service for students, Chegg has been a major beneficiary of the education system shutdown last spring due to the pandemic. In fact, revenue jumped 57% YoY for Q2 2020, which ended in June.
The exciting part is that online postsecondary education is set to explode this fall, as students have few options other than online learning, without skipping a year.