Chegg to Buy Coding Bootcamp Thinkful for $80 Million

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Chegg , a Santa Clara, Calif.-based based publicly traded student services company, plans to buy Thinkful , a Brooklyn-based online coding bootcamp. The acquisition will cost Chegg about $80 million in cash for Thinkful, with possible additional payments of up to $20 million in cash or stock based on performance, according to a statement Wednesday. Both companies’ boards of directors have approved the deal. Chegg had been holding onto $1.1

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Chegg Ditches Ingram for FedEx and Eyes International Growth

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A switch in distributors for Chegg’s legacy textbook sales and rentals business reflects, in a way, how the more things change, the more they stay the same. Back in 2014, more competition from Amazon had led the Santa Clara, Calif-based Chegg to a deal with book distributor Ingram Content Group. Ingram bought Chegg’s textbook inventory to sell and distribute, and the companies shared the revenues. million, with most of the growth in Chegg’s digital services business.

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Now With a ‘Sizable Cash Hoard’ of $1 Billion, What Might Chegg Buy?

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Chegg , a publicly-traded provider of textbook rentals and online student services, has closed a $700 million convertible note offering that, after taking expenses into consideration, should give the company an additional $682.7 A portion of this sum will be used by the company for stock repurchases. A Chegg spokesman declined to comment or share additional details. LLC, Barrington Research and Northland Capital Markets were initial purchasers of the Chegg notes.

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Chegg Expands Student Debt Relief Benefit for Employees—Up to $5,000 More a Year

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Now, a publicly-traded education company that serves millions of college students has ramped up student debt relief services for its own employees. Chegg , based in Santa Clara, Calif., To be clear, this is not a new perk for Chegg employees. Since 2015, Chegg has offered $1,000 in cash to employees to use toward student debt, according to Jenny Braundemuehl, the company’s chief people officer. The company employs about 1,100 people worldwide.)

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K-12 Dealmaking: Follett, Chegg, Golden Gate Capital Make Acquisitions

Marketplace K-12

In this week’s dealmaking news, a handful of education companies were acquired; Follett acquired adaptive learning platform Fishtree and Chegg acquired online studying platform StudyBlue. The post K-12 Dealmaking: Follett, Chegg, Golden Gate Capital Make Acquisitions appeared first on Market Brief. Marketplace K-12 Educational Technology/Ed-Tech Investment / Venture Capital K-12 Dealmaking Mergers and Acquisitions study platforms

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Edtech Earnings Roundup: How 2U, Chegg, Instructure and Pluralsight Fared in Q2 2019

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The latest quarterly earnings for publicly traded education technology companies was especially rough for 2U , which revised its loss guidance for the year and stated that it expected enrollment challenges to its core business of running online graduate programs with universities. based company tumbling to historic lows. (It Here’s how the other edtech companies that went public earlier this decade fared. Chegg now has about $1.1

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K-12 Dealmaking: Chegg, Boxlight Make Education-Related Acquisitions

Marketplace K-12

A handful of education companies, including Chegg and Boxlight. The post K-12 Dealmaking: Chegg, Boxlight Make Education-Related Acquisitions appeared first on Market Brief. Marketplace K-12 Educational Technology/Ed-Tech K-12 Dealmaking Mergers and Acquisitions Startupsannounced acquisitions this week.

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Chegg Cuts $15 Million Check to Buy AI-Feedback Tool, WriteLab

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Chegg announced today that it bought the Berkeley-based startup for about $15 million in an all-cash transaction. They started the company to solve a challenge that they both knew well: how to provide fast and actionable feedback to writing students. The company has also begun partnering with other companies such as Pearson and Microsoft. That’s challenging because when you’re a small company, you’re often a lot of engeineers in a room and you’re not in the classroom."

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Earnings Roundup: How Public Edtech Companies Fared Following the Outbreak

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For instance, education companies that rely on corporate customers may take a hit, as those clients look to cut costs. While COVID-19 hit at the tail end of the first quarter, some publicly traded education companies already reported an impact on their Q1 2020 earnings. Chegg The bottom line: Chegg’s first quarter delighted investors. The company closed the quarter with a little over $1 billion in cash and investments.

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K-12 Dealmaking: Chegg Acquires Easy Solutions; Age of Learning Raises $150 Million

Marketplace K-12

The month of May kicked off with a significant number of deals in the ed-tech sector, including acquisitions by Chegg and ACT, Inc. In addition, several companies, including Age of Learning, CodeCombat and GotIt!, Chegg Acquires Imagine Easy Solutions: The learning platform provider has acquired Imagine Easy Solutions , the provider of EasyBib.com and other writing tools, for approximately $42 million in an all-cash transaction, Santa Clara, Calif.-based

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Blackboard Co-Founder: ‘4 Secrets to Building a Tech Company for Higher Ed’

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To mark the 20th anniversary of Blackboard, one of the first LMSes, the company’s co-founder, Matthew Pittinsky, wrote an epic blog post about the company’s history, which includes his advice for today’s edtech leaders. As origin stories go, the founding of Blackboard twenty years ago lacked that single light bulb moment that tech companies like to tell. Equally important to our product strategy were “The Two Commandments:” Ease of use and enterprise technology.

More Big Bucks for Tutoring Companies: Varsity Tutors Raises $50M in Series C Funding

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In the heartland of America, one company is raising big bucks in a bid to capture this lucrative market. Other investors include the Chan Zuckerberg Initiative and existing backer Technology Crossover Ventures. Louis-based company’s $50 million Series B round, which closed in November 2015. Already boasting 4,000 tutors covering 1,000 subjects, the company is on the hunt for more teachers. Lauren Heymann, who tutors online through the company, gets paid $15 per hour.

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Can Technology in the Classroom Replace Expensive Textbooks

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Smartphones, tablets, and laptops had become a permanent requirement along with using technology in the classrooms by this time. Thus, replacing expensive textbooks with technology in the classroom is the right thing to do in the current scenario. Here’s how you can replace these expensive textbooks with technology in the classroom: Adopt a Subscription Model. Similarly, Pearson has made some of its textbooks available for rent through Chegg.

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Education Technology’s Machine Learning Problem—and Responsibility

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But how is machine learning playing out in education—and how does it impact not just students, educators and parents, but also the businesses building technology tools to support teaching and learning? The speakers were Carlos Escapa (Senior Principal, AI/ML Business Development, Amazon Web Services), Vivienne Ming (Founder and CEO, Socos Labs), Matthew Ramirez (Director of Product Management, AI Writing Tools, Chegg) and Andrew Sutherland (CTO and co-founder, Quizlet).

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Reach Capital’s Newest Education Technology Investment Fund Closes at $82 Million

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Investing is humbling because we inevitably miss out on or pass on companies that go on to achieve great success in realizing their mission. based firm has established itself as a familiar name within the education technology industry. It brought over the companies from the Seed Fund into its portfolio as well, and re-invested in 14 of them.) For Reach, they include Sesame Workshop and TAL Education, a Chinese education company. “We WriteLab (Chegg).

Course Hero Adds $70 Million to Series B Fundraise

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As it turns out, the company wasn’t done fundraising. The deal pushes the company’s Series B round to $80 million. (It The world has changed dramatically between the first and final close of the company’s Series B round.

Mark Cuban, ECMC Lead $1.8M Round for Cluster to Develop Industrial Tech Talent

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Other investors include education technology executives, like Penn Foster CEO Frank Britt and Chegg CEO Dan Rosensweig, along with Zynga founder Mark Pincus and Flatiron Health CEO, Nat Turner. The new roles require new digital skills—with design tools like Siemens NX and CATIA, and companies struggle to find qualified candidates, according to Cluster’s founder and CEO, Kim Taylor. The company is based in Los Angeles, home to many of these companies.

Platzi Raises $6 Million to Bring More Online Education to Latin America

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Before they founded a company together, Freddy Vega and Christian Van Der Henst were rivals. They had two different companies that provided services to Flash programmers until a combination of the programming language’s decline in popularity with the global recession killed business in the early 2010s. The two men joined together for a new company focused on an underserved market in tech training: Latin America. companies in search of employees in the region.

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Some Professors Fight Study-Help Sites. Other Professors Now Use Them.

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Soon someone from the company reached out to her to offer her full access to the site for free, which costs students either $39.95 All she had to do was fill out a faculty profile, and she happily answered questions about how she had used the service and did an interview for an article on the company’s website. The company invited her on an all-expense-paid trip to its annual conference on teaching at its headquarters in San Francisco. Rutgers professor Kristen S.

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The Post-Pandemic Outlook for Edtech

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The sudden shift gave leaders at DreamBox Learning, a math education company headquartered nearby, an early glimpse at the upheaval to come and an inkling that digital teaching tools would soon be in high demand around the country. Soon, schools would be inundated with sales pitches from edtech companies, and it didn’t take long before they started pushing back against those that seemed predatory. That strained the company, but it also notched DreamBox record levels of renewals.

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Byju’s Becomes an Edtech ‘Decacorn’ After Fundraise from Mary Meeker’s Bond Capital

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That’s the industry lingo for companies valued at $10 billion or more. It’s an ultra-exclusive club of two dozen companies across the world, according to CB Insights. Byju’s is the newest member—thanks to an investment from technology investment firm Bond, which values the company at $10.5 Bond was founded by Mary Meeker, a former partner at Kleiner Perkins whose annual “Internet Trends” reports have become a must-read for the technology industry.

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That’s a Rap! Nearpod Buys Educational Hip Hop Creator, Flocabulary

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It’s out of the ordinary when Nearpod buys a company. The Brooklyn-based company best known for fusing hip hop with educational content in music videos and instructional activities, has been acquired by Nearpod , which helps educators beam digital content to students’ devices. Combined, the two companies claim they will reach more than 7 million U.S. We’re taking the youth and media culture of Flocabulary, and pairing it with the device technology of Nearpod,” says Rappaport.

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US Edtech Closes Decade with Record $1.7 Billion Raised in 2019

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education technology sector in 2019. According to an EdSurge database of publicly announced funding deals, investment in edtech companies reached at least $1.66 based education companies that raised a round of at least $250,000. Two trends have helped to define the U.S.

K12 Eyes Further Deals After $165M Acquisition of Coding Bootcamp Galvanize

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Another bootcamp has been gobbled up by an education technology company looking to break into the corporate learning and career readiness market. million in cash, plus some stock, for Fullstack Academy, and Chegg’s Thinkful purchase for $80 million.

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2U Defends Trilogy Bootcamp Purchase

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Last quarter, online program management company 2U shocked investors with worse than expected losses and, going forward, lower average program enrollment for some of its largest online graduate programs. based company’s leadership remained foggy on some aspects of its strategy to survive in an increasingly competitive industry. Grad Degree Business Despite concerns about its online graduate degree program business, the company showed growth. The company ended 2018 with $449.8

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Gig’s Up: CreatorUp Raises $1 Million to Train and Match Creative Professionals for Work

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This is the first round of funding for the Los Angeles-based company, which has been bootstrapped since its founding in 2013. CreatorUp is a digital media studio and training company with an educational program to train aspiring creative professionals in business and digital production. The company also offers an online library of self-paced courses that individuals can access for $25 per month or $200 a year. The company also earns revenue from each client project.

Predictions of Print Textbooks’ Death Remain Greatly Exaggerated

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Print textbooks are the eternal punching bag for the things people think technology should render obsolete. spending on PreK-12 instructional technology steadily ticked upwards, from $2.6 higher education courseware in 2015, down from 50 percent the year before, according to a 2018 report from Macquarie, an investment bank and financial services company. The company has invested in a partner rental program that should reach 400 titles in the second half of this year.

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EdSurge HigherEd Year in Review: Our Top Higher Education Stories of 2018

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Cheating on Chegg? How the Company Aims to Catch Tutoring Requests That Go Too Far. It’s no surprise that students would ask for help on platforms like Chegg, which offer digital textbooks as well as tutoring and homework help. Here’s a look at how the education company is responding. In 2016, the company reported its largest loss in its history, down $3.3 Here’s what’s next for the world’s largest education company, according to its CEO John Fallon.

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Springboard Raises $11 Million to Expand Mentor-Driven Coding Bootcamps

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The San Francisco-based company has plans to reach more learners now that it’s raised an $11 million post-Series A financing round. Earlier this year, the company launched three programs in India, where Tambay and co-founder Parul Gupta grew up. Kashif Ross needed a career change.

In Move to ‘Unlimited’ Pricing Model, Cengage Hopes for a Comeback

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The company reemerged a year later intent on growing its digital offerings and making more strategic acquisitions and partnerships. At the recent ASU+GSV Summit in San Diego, EdSurge caught up with Cengage CEO Michael Hansen to capture his thoughts about the (un)affordability of course materials, faculty concerns about digital texts and what the company is looking for in its next acquisition. Tell me a little bit about some of your recent partnerships with companies such as Chegg.

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GSV Adds Three New Letters to Its Portfolio: MBA

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If we do this right, not only should GSV have a strategy in investing in these companies, we hope other investors see the value of the students coming out of there and are attracted to it as well,” Moe says. Over the years, GSV has invested in the likes of Facebook, Spotify and Twitter alongside education companies including Chegg and Coursera. Education Technology Higher Education InvestorsGSV is making a new investment in education.

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The 2019 EdSurde Annual Special: Edtech April Fool’s News That Should Stay Fake

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Chegg’s chalked up an excuse-generator to help you weasel out of doing homework, taking tests—just about anything. BACK TO THE FUTURE: Weary of unwanted scrutiny, companies that once described themselves as the “Facebook of education” are now scrambling to disassociate themselves from the beleaguered social network. HAPPY MEALS, PERSONALIZED: McDonald’s just acquired an AI tech company to personalize the drive-thru experience. One company is responding with a new approach.

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How Merger of Two Textbook Giants Could Impact Course Materials

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That appears to be the hope of officials at the two companies, which have both been trying for years to shift the focus of their businesses from selling print books to shipping software and other online tools, and have recently been experimenting with subscription models. Both companies have also made deals with colleges to buy digital licenses to courseware in bulk, and then add that cost into a course fee or tuition. Education Technology Mergers and Acquisitions Higher Education

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Pearson Is Selling Its US K-12 Business—Despite Posting a Profit and Digital Growth

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In its latest earnings update, the company confirmed that it is indeed moving ahead with such plans. Under his tenure, Pearson has embarked on a rocky transition to refocus Pearson as a digital-focused education company. But those moves may finally be bearing fruit, as the company reported a 2017 adjusted operating profit of £576 million (approximately US $804 million), one year after posting a $3.3 The company’s revenue from U.S.

Fueled by Big Rounds, Edtech Funding Surges to $887M in First Half of 2017

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edtech companies last year, the dollars returned with a fury during the first six months of 2017. Company. Several private-equity-backed companies have invested heavily in the “platform” approach. PowerSchool, owned by Vista Equity Partners, has acquired eight companies since June 2015. The strategy has worked for a few older companies: Kaplan, for instance, began in the test-prep business and has since moved into higher education, corporate training (and a.