Chegg, Inc.

Chegg, Inc.

Chegg, Inc.

Overview
Date Founded

2005

Headquarters

3990 FREEDOM CIRCLE, SANTA CLARA, CA, 95054

Type of Company

Public

Employees (Worldwide)

1,401

Industries

Internet Software & Services
Other Business & Consulting Services
Schools & Student Services

Company Description

Chegg, Inc. engages in the operations of learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades, and test scores. The firm offers required and non-required scholastic materials including textbooks in any format; access to online homework help and textbook solutions; course organization and scheduling; college and university matching tools; and scholarship connections. Its services include Chegg study, writing, tutors, and math solver. The company was founded by Osman Rashid and Aayush Phumbhra on July 29, 2005 and is headquartered in Santa Clara, CA.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Chief Financial Officer

Chief Marketing Officer

Chief Information Officer & Outcomes Officer

President of Learning Services

Chief Accounting Officer, Vice President & Controller

Chief Strategy Officer

General Manager

General Manager

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Owners & Shareholders
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Baillie Gifford is an active, team-oriented, research-based manager which is completely focused on delivering long-term returns. The firm's investment philosophy focuses on growth while their universe is global. They employ bottom-up conviction to portfolio construction. Their diversified strategies maximize investment opportunities, aiming to achieve steady returns. For equities, Baillie Gifford's analysts conduct qualitative, fundamental analysis to identify the most competitive, innovative and efficient growth companies. For multi-asset strategy, the firm invests in various asset classes such as listed equities, property, high yield credit, commodities, emerging market government bonds and insurance linked securities. For fixed-income, Baillie Gifford invests in government bonds and currencies, emerging market bonds, investment grade and high yield.

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FAM is a growth manager that uses proprietary, bottom-up, fundamental research to identify companies that are undergoing positive dynamic change. The firm invests in companies experiencing high unit volume growth and/or companies undergoing a positive life cycle change. Companies with high unit volume growth are experiencing growing revenues and unit volume, increasing market share, and an expanding business. Companies undergoing positive life cycle change may have new management, a new product innovation, may be involved in a new acquisition or may stand to benefit from new regulations. FAM offers multiple investment strategies, including Capital Appreciation, Capital Appreciation Focus, Dynamic Return, Dynamic Opportunities, Emerging Markets, Growth & Income, Health Sciences, International Growth, Global Growth, Large-Cap Growth, Mid-Cap Growth, Small-Cap Growth, Small-Cap Focus, Small/Mid-Cap Focus, Spectra, SRI Capital Appreciation, Balanced, Responsible Investing, and Alger 25.

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Our firm was founded to help small investors build significant capital over time. Since we believe in owning as many promising stocks as possible, we generally buy on margin.* Borrowing to invest can force liquidations if the market collapses, so we try to balance this exposure by selling short. This ability to seek investments both up and downstream is rarely available to smaller investors. We, however, view it as an effective tool that doubles our clients' dollars at work (it also doubles our commissions), while moderately reducing their exposure to abrupt swings in the market. Our approach is not for the short-term investor. Clients must be able and willing to accept risks. Accounts will experience sharp fluctuations month to month, year to year. It takes a strong stomach to invest with us. Clients entrust decision making for their accounts to us: we buy and sell without asking our clients to authorize in advance each transaction. We are paid commissions for our work

Recent Transactions
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Chegg, Inc. purchases Thinkful, Inc. from FLOODGATE Fund LP, RRE Advisors LLC, Global Founders Capital Management GmbH, The Founders Fund Management LLC, Quotidian Ventures, Tribeca Venture Partners LLC, Owl Ventures LLC

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Chegg, Inc. purchases StudyBlue, Inc. from Great Oaks Venture Capital BZ LLC, Foley Ventures LLC

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Chegg, Inc. purchases WriteLab, Inc. from Learn Capital LLC, Kapor Capital, New Schools Capital LLC

Insider Transactions
Details Hidden
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Transaction Advisors
Legal Advisor

Advised onChegg, Inc. purchases Thinkful, Inc. from FLOODGATE Fund LP, RRE Advisors LLC, Global Founders Capital Management GmbH, The Founders Fund Management LLC, Quotidian Ventures, Tribeca Venture Partners LLC, Owl Ventures LLC

Escrow Agent

Advised onChegg, Inc. issued USD Common Stock

Underwriter

Advised onChegg, Inc. issued USD Common Stock

Legal Advisor

Advised onChegg, Inc. issued USD Common Stock

Legal Advisor

Advised onChegg, Inc. issued USD Common Stock

Associate

Advised onChegg, Inc. purchases Thinkful, Inc. from FLOODGATE Fund LP, RRE Advisors LLC, Global Founders Capital Management GmbH, The Founders Fund Management LLC, Quotidian Ventures, Tribeca Venture Partners LLC, Owl Ventures LLC

Advisors & Consultants
Legal Advisor

Faculty Member at Practising Law Institute

Advisor

Co-Founder & Chief Executive Officer at Nectar, Inc.

Legal Advisor

Industry Co-Chair, Internet at Fenwick & West LLP

Key Stats and Financials As of 2019
Market Capitalization
$8.24B
Total Enterprise Value
$4.67B
Earnings Per Share
$-0.08
Revenue
$411M
Total Equity
$499M
Net Profit
$-9.61M
Total Debt
$920M
EBITDAMargin
12.32%
EBITDA
$50.6M
Debt TEV
0.2x
Enterprise Value EBITDAOperating
91.89x
TEVNet Income
-486.26x
Enterprise Value Sales
11.37x
Three Year Compounded Annual Growth Rate Of Revenue
17.38%
Five Year Compounded Annual Growth Rate Of Revenue
6.15%
Non-Profit Donations & Grants
$75K - $100K
2018
$5,000 - $10K
2018
$10K - $25K
2018
Investments
Details Hidden

TAPD, Inc. develops and operates software platform for students. The company was founded by Charlie Javice and is headquartered in New York, NY.

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Passei Direto SA operates a social network with content for college students. It also develops and publishes a social network for academics. The company was founded by Andre Simoes and Rodrigo Salvador in 2012 and is headquartered in Rio de Janeiro, Brazil.

Investors
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Founder at The Thiel Foundation

Details Hidden

Zeev Ventures LLC is a venture capital firm seeks investment opportunities in small companies located in the US. It provides financing for seed and early stage capital requirements.

Details Hidden

The Manatt Venture Fund is the investment arm of [Manatt, Phelps & Phillips, LLP](/company/manatt-phelps-phillips-llp), a Los Angeles-based law firm. The Fund makes early-stage investments, and since its founding in 2000 it has made investments in over 90 companies. The official investment entity is MPP Holdings, LLC.

Suppliers
Pearson Plc Internet Software & Services | London, United Kingdom

Pearson Plc is an education company, which engages in the business of education, business information, and consumer publishing markets. It operates through the following segments: North America, Core, and Growth. The North America segment includes businesses in the Unites States and Canada. The Core segment referst to businesses in mature markets including the United Kingdom, Australia, and Italy. The Growth segment covers the businesses in emerging markets including Brazil, China, India, and South Africa. The company was founded by Pearson Samuel in 1844 and is headquartered in London, the United Kingdom.

Ingram Industries Other Business & Consulting Services | Nashville, TENNESSEE

Ingram Industries, Inc. engages in book distribution, print and distribution services, marine transportation and digital fulfillment services. It offers trade books, textbooks, specialty magazines, and audiotapes to booksellers, librarians and specialty retailers. The company was founded by Erskine Bronson Ingram II in 1978 and is headquartered in Nashville, TN.

McGraw-Hill Education, Inc. Schools & Student Services | New York, NY

McGraw-Hill Education, Inc. publishes and distributes educational content, software and services. The firm operates through four segments: Higher Education, K-12, International and Professional. The higher education segment relates to the development of product across all disciplines, the K-12 segment relates to content development and the international segment relates to locally developed products or adaptations and translations of existing higher education, K-12 and professional products in both digital and print format. The professional segment relates to new titles and revisions, similar to the higher education segment, and include activities related to the creation of the actual product. The company was founded by James Hill McGraw in 1888 and is headquartered in New York, NY.

Competitors
Amazon.com, Inc. Retail: Other - Seattle, Washington

Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

Wework Cos., Inc. Other Business & Consulting Services - New York, New York

WeWork is dedicated to researching, identifying and providing the most relevant and valuable services available to their members. They are proud to present services that will make a difference - and they will continue to do their best to offer more. Every WeWork location is staffed with Community Managers who work directly with members to understand their business needs, struggles and growth plans - and connect them to other members who can help.

Barnes & Noble Education, Inc. Retail: Other - Basking Ridge, NJ

Barnes and Noble Education, Inc. engages in the management and operation of bookstore chains in universities. It operates through the following segments: Retail, Wholesale, and Digital Student Solutions (DSS). The Retail segment operates physical and virtual campus bookstores. The Wholesale segment sells hardware and software that provides inventory management and point-of-sale solutions to college bookstores. The DSS segment includes direct-to-student product and service offerings to assist students to study more effectively and improve academic performance. The company was founded by Leonard Riggio in 1965 and is headquartered in Basking Ridge, NJ.

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