Chegg Will Profit From The Transformation Of Postsecondary Education (NYSE:CHGG)

(Source: Chegg)

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.

(Source: Chegg)

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.

Read More

Disbanded Billionaire Education Fund Takes a Reputation Down with It – Non Profit News

Web Summit / CC BY

September 24, 2020; Hartford Courant

NPQ would love to stop writing about failed partnerships between public schools and billionaires, but they keep getting started and running aground as fast as their benefactors pillage the economy.

One such failure is the Partnership for Connecticut, funded for $100 million by hedge fund billionaires Ray and Barbara Dalio to be matched by the state. The partnership closed up shop three months ago after spending less than a year in existence, but still it had time to become embroiled in a controversy around the leadership of one Mary Ann Schmitt-Carey, whose tenure lasted just two months. She claims her reputation was dragged through the mud after Ray Dalio realized she did not wish to be dictated to.

Her lawyer says she refused to simply be used as a rubber stamp when she was the one with the education experience.

Read More