- Chegg has announced its acquisition of on-demand tutoring marketplace InstaEDU for $30 million.
- At rates beginning around $0.40 per minute, the platform offers high-quality tutors in over 2,500 subjects from high school through college — all just a click away.
- InstaEDU CEO Alison Johnston Rue will stay on as head of Chegg's tutoring business, pending the deal's expected closure by the end of the month.
Just over 6 months removed from its November IPO, Chegg is continuing to flesh out its offerings as it works toward its goal of making education more accessible and affordable. That goal began primarily with an online textbook marketplace and rental service, which the company told us in January is "a great entry point to a relationship with students," who can then benefit from its other services. And, as the print textbook market is expected to dry up and more competitors flood the online textbook market, the company has been looking to bolster those services.
An affordable, high-quality tutoring service that essentially "uberizes" the process of getting help in a particular subject or topic seems like a fitting addition, especially given its study help services.