Chegg, Inc.
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Chegg, Inc. - overview
Established
2003
Location
Santa Clara, CA, US
Primary Industry
Retail
About
Chegg, Inc. is a US-based educational technology company providing round-the-clock study assistance and resources for students across various subjects, aiming to enhance academic success and learning outcomes. Founded in 2003 by Frank Balcavage in Santa Clara, US, Chegg, Inc. specializes in educational support services.
The company has undergone significant growth and transformation since its inception, primarily focusing on enhancing its online offerings. Notable funding includes a PIPE round in November 2013, where it raised USD 37. 3 mn from PAR Capital Management. Overall, Chegg has completed 21 deals, with a total amount raised of USD 37.
3 mn. Chegg's primary services revolve around educational support, offering students a rich library of over 100 million curated solutions across 50 subjects, including statistics and calculus. The company also provides tools like flashcards, expert proofreading, and citation generation in numerous formats, tailored for student needs. For the year 2024, Chegg reported a revenue of USD 617.
57 mn and an EBITDA of USD -658. 76 mn, emphasizing its reliance on subscription-based models to generate steady income through services like Chegg Study and Chegg Study Pack. Chegg plans to leverage its recent funding from the PIPE round to expand its product offerings and enhance its technological capabilities. The company aims to explore new markets, especially in regions with growing educational needs, to broaden its user base and improve accessibility to its services.
Continued innovation in its educational tools and resources is expected to drive growth initiatives in the coming years.
Current Investors
PAR Capital Management, Gabriel Venture Partners, Floodgate
Primary Industry
Retail
Sub Industries
Education & Training Website, Bookstores, Search Engines, Web Applications
Website
www.chegg.com
Verticals
E-commerce, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
Chegg, Inc. - timeline of key events
Chegg, Inc. - financials
| Fiscal Year Ended | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 255,575,000 | 304,834,000 | 301,373,000 | 254,090,000 | 255,066,000 | 321,084,000 | 410,926,000 | 644,338,000 | 776,265,000 | 766,897,000 | - | - | - |
| % Revenue Growth (YoY) | - | 19.3% | (1.1%) | (15.7%) | 0.4% | 25.9% | 28.0% | 56.8% | 20.5% | (1.2%) | - | - | - |
| EBITDA (USD) | 25,351,000 | 16,359,000 | (2,485,000) | (16,178,000) | 370,000 | 27,079,000 | 91,266,000 | 183,741,000 | 158,162,000 | 105,730,000 | - | - | - |
| Operating Income (USD) | (51,031,000) | (65,134,000) | (57,700,000) | (40,070,000) | (18,967,000) | (6,220,000) | 17,817,000 | 56,753,000 | 78,107,000 | 8,957,000 | - | - | - |
| Operating Margin | (20.0%) | (21.4%) | (19.1%) | (15.8%) | (7.4%) | (1.9%) | 4.3% | 8.8% | 10.1% | 1.2% | - | - | - |
| % EBITDA Margin | 9.9% | 5.4% | (0.8%) | (6.4%) | 0.1% | 8.4% | 22.2% | 28.5% | 20.4% | 13.8% | - | - | - |
| NET Income (USD) | (55,850,000) | (64,758,000) | (59,210,000) | (42,245,000) | (20,283,000) | (14,888,000) | (9,605,000) | (6,221,000) | (1,458,000) | 266,638,000 | - | - | - |
| % Net Margin | (21.9%) | (21.2%) | (19.6%) | (16.6%) | (8.0%) | (4.6%) | (2.3%) | (1.0%) | (0.2%) | 34.8% | - | - | - |
Chegg, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LP Direct, Trade Sale | Completed | Frank | - |
Displaying 1 - 1 of 1
Chegg, Inc. - employee data
Chegg, Inc. - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| Board of Directors & Investor | BM |
BM Board Member
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