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

Edsurge

Chegg announced today that it bought the Berkeley-based startup for about $15 million in an all-cash transaction. Even so, Ramirez described the edtech environment as “extremely challenging.” What made the offer from Chegg appealing, Ramirez said, “is the opportunity not just to be an isolated component of students’ work, but to simplify the student experience and provide them with more of what they need to succeed in college.” His advice to other edtech entrepreneurs?

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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. A stealth San Francisco-based edtech startup offered a glimpse of a “revolutionary” new product. Congratulations for making it through the first quarter of 2019! The reward that awaits: Our fine annual tradition of hijinks and horseplay, exaggerations and extrapolations, and all the absurdities not fit for print on any day other than April 1.

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Stale Words and Hackneyed Ideas That Make Edtech Investors Cringe

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Dreamit Edtech network to get their “lemon lists” of concepts, statements, and business models that edtech entrepreneurs may want to think twice—or thrice—about. Chegg (or Amazon for that matter)? So now that you know how to make an edtech investor cringe… please don’t. Education Technology Investors Edtech Business

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

Edsurge

edtech companies last year, the dollars returned with a fury during the first six months of 2017. edtech startups is already at 88 percent of the total in 2016 ( which was $1 billion ). Just three years ago, some of the biggest firms on Sand Hill Road—Kleiner Perkins, Sequoia Capital, Benchmark Capital—were happily putting money into edtech startups with unproven revenue models. Home-run bets and financial windfalls are rare in the edtech industry.

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Why Your Financial Advisor Doesn’t Recommend Edtech Stocks

Edsurge

I’m excited for the industry’s future, and I think we can make money investing in publicly-traded edtech companies. I think you’re wrong, so I propose a bet: We’ll both invest in a basket of stocks on January 1, 2012—mine representing the edtech industry, and yours the whole economy. My edtech portfolio was more difficult to assemble. Our Basket of Edtech Stocks: 2U. Chegg. So we created our own basket—or market index—of edtech stocks.

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

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Gonzalez’s firm last invested in student services provider Chegg, but hadn’t found another education company that piqued his interest until his firm started talks with Platzi. Education Technology Edtech Business Coding Adult Learning Financing

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

Edsurge

Over the last 10 years or so, the majority of the acquisition activity for smaller edtech startups came from the big textbook companies. But now that we have built an ecosystem of millions of subscribers, it is much easier to filter out which edtech startups actually add value to that ecosystem. So if an edtech startup is focused on enhancing the learning experience for students and faculty, that's the sweet spot that we're focused on. I think Chegg is doing well in that.

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

Edsurge

It eyed the edtech industry as early as 2014, says Elizabeth Fisher Marshall, a managing director at Hall Capital, but “our concern at the time was the depth of the opportunity set and the unproven exit market.” In 2017, private equity firms including BV Investment Partner and The Rise Fund poured hundreds of millions into acquiring edtech companies. WriteLab (Chegg). Education Technology Investors Edtech Business

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

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Earlier this month, McGraw-Hill, Barnes & Noble Education and Chegg teamed up for a new digital textbook rental program that the trio claims can help students save as much as 70 percent from buying print copies. Education Technology Enterprises Edtech BusinessLast May, major textbook publisher Pearson indicated it was mulling a sale of the U.S. portion of its K-12 business, which includes print and digital curriculum and instructional materials.

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

Edsurge

Varsity Tutors is not the only one chasing the tutoring market, which is saturated with traditional, brick-and-mortar competitors like Kumon and Sylvan Learning and online upstarts like Chegg and Wyzant. Education Technology Financing Edtech BusinessTutoring is big business. Wealthy families fork out more than $1,000 an hour for top teachers. The industry has spawned celebrity millionaires in South Korea.

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Acquisition Autopsy: Details—and Questions—Behind MissionU’s $4M Sale to WeWork

Edsurge

In addition to MissionU’s institutional investors, the company attracted executives and well-known names in the education industry including Chip Paucek (CEO of 2U), Dan Rosenzweig (CEO of Chegg) and Ted Dintersmith, a former investor-turned-education philanthropist. Education Technology Mergers and Acquisitions Edtech BusinessUsually, when a hot startup gets acquired by an even hotter one, the industry cheers.

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

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That’s why we’ve also highlighted a few here that we don’t want you to miss, from complicated community college turnarounds to where IKEA and edtech overlap. Cheating on Chegg? 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. What Do Edtech and IKEA Have in Common? And edtech is no stranger to it.

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Education Technology’s Machine Learning Problem—and Responsibility

Edsurge

At the SF Edtech Meetup, hosted by EdSurge on July 10, four panelists gathered to discuss the challenges around deploying machine learning in the classroom and the boardroom. 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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Where in the World Is Planet3? An Educational Gaming CEO Seeks His Second Act

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Kelly met him through Planet3 co-founder Albert Yu-Min Lin when Lin received an award sponsored by Switch, Kelly told EdTech Digest at the time. When Tim Kelly started Planet3 in 2013, he aimed for the stars.

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Hack Education Weekly News

Hack Education

” Even more depressing, this look at behavioral modification to do corporations’ bidding offered by Edsurge : “What Do Edtech and IKEA Have in Common? ” Via EdWeek’s Market Brief : “Education Company Chegg Acknowledges Data Breach , Puts 40 Million Users on Notice.” Each week, I gather a wide variety of links to education and education technology articles. Sometimes I write a few comments.

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

Edsurge

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. Chegg was founded in 2005 and went public eight years later in 2013. Once upon a time the learning-management system (or LMS) was a new idea. In fact, the notion emerged about two decades ago.

Hack Education Weekly News

Hack Education

Via Forbes : “The Startup President: How France ’s Macron Nearly Built An EdTech Company.” ” An op-ed from someone from Kelly Services – you know, the temp agency – in Edsurge on “Why Solving the Teacher Shortage Is Critical for Edtech.” Chegg has acquired WriteLab for $15 million. Via Edsurge : “ New Markets Venture Partners ’ Latest Edtech Fund Closes at $68 Million.”

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Hack Education Weekly News

Hack Education

“Is Your Edtech Product a Refrigerator or Washing Machine?” ” Pearson and Chegg are partnering for textbook rentals. “Why Fixing the Pipeline Alone Won’t End Edtech’s Diversity Problem ,” says Edsurge. Education Politics. From the Department of Education’s press release : “U.S. Secretary of Education Announces Chief of Staff and Additional Staff Hires.” ” And what a fine bunch.

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Hack Education Weekly News

Hack Education

Via eCampus News : “Is higher ed ready for the big edtech explosion ?” ” Via the press release : “ Cengage , McGraw-Hill Education , and Pearson have joined forces with Ingram and Chegg , Inc. ” “ Beware Edtech’s Equivalent of the Flashlight App ” – to my surprise, the story isn’t about how flashlight apps are full of malware, but golly it could be. Education Politics.

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