Former textbook rental juggernaut Chegg is on the home stretch to turn itself into a 100% digital company. Ingram Content Group will take over the entire physical textbook business of Chegg and market it under the Chegg brand starting May 1st 2015. Chegg will exit its warehouse operations by the end of this year.
Amazon opened its first on-campus pick-up and drop-off location at Purdue University yesterday. Amazon@Purdue is staffed by Amazon and offers students a location to pick-up their orders at a schedule that is adapted to their hours on campus.
Chegg announced today that it has acquired the data and assets of Internships.com for $10 million in cash and $1 million in stock from CareerArc Group LLC.
Chegg announced a strategic partnership with book distributor Ingram along with its second quarter 2014 results on Monday. With results better than expected and a partnership that will immediately liberate $25 million of Chegg’s capital, shares were up 9% in afterhours trading.
The second quarter results also once more indicate the ongoing transition of Chegg into a purely digital business as stated by Chegg’s CEO Dan Rosensweig in the press release.
Chegg announced that it has agreed to acquire InstaEDU, an online platform for on demand tutoring sessions, for $30 million in cash. InstaEDU’s co-founder and CEO Alison Johnston Rue will join Chegg as head of its tutoring business.