Internships.com is now a part of the Chegg family

This is Dan, the CEO of Chegg, and I wanted to be the first to welcome you into our family of student-first services.

By joining the Student Hub, Chegg is making Internships.com even better. With a combined 15 million students in the Chegg network, we can attract more employers, with more internships, which means more opportunities for you.

But since it’s October and you’re probably more focused on your midterms, I also want to let you know about some of the other ways Chegg can help you. For instance when you get stuck (and we all do) in your schoolwork, check out Chegg Study, and find an on-demand online tutor, or the textbook solution you need, an expert Q&A database, flashcards and more.

If you’re anxious about a career path (and who isn’t), or a job after graduation, there’s the Chegg Career Center, a place to explore career paths, assess the skills you have against the skills you’ll need, participate in online hiring fairs, and of course search for and apply to internships.

We hope this rings loud & clear: You’re not alone, and we want to help you make college better. If there are things we haven’t thought of (and there are so many) that can or should be fixed with technology or external pressure, let me know. We’re eager to hear from you, help you solve problems, and make your college experience the best it can be.

-Dan
danr@chegg.com

P.S. Our lawyers made me include this: As part of the acquisition, and as permitted under Section 3f of the Internships.com privacy policy, we will be migrating all Internships.com users to the Chegg Privacy Policy, effective thirty days from now. You may review the new Chegg Privacy Policy here, and if you choose to leave the Internships.com service and decline the new policy, you may do so by contacting Internships.com here.  Otherwise, the new Privacy Policy will become effective on November 2, 2014.

A Letter from Dan: Chegg Adds Internships.com to the Student Hub

Hi, this is Dan, CEO of Chegg. Today we added Internships.com, the largest student-focused internship site, to the Student Hub.

This is great news for you, because we know that finding a good job is why most of you are going to college. We also know that completing multiple internships throughout college is one of the surest ways to develop the skills and land the job you want when you graduate. And Internships.com is by far the best online tool for getting you to where you want to be.

As we expand our services to include internships, we don’t want you to forget about all of the other ways we are helping students to get the most out of college.

Right about now (according to the emails I get from my daughters) the strain of midterms is creeping in. So when you get stuck (and we all do) in your schoolwork, check out Chegg Study, and find an on-demand online tutor, the Textbook solution you need, an expert Q&A database, flashcards and more.

If you’re anxious about a career path (and who isn’t), or a job after graduation, there’s the Chegg Career Center, a place to explore career paths, assess the skills you have against the skills you’ll need, participate in online hiring fairs, and of course search for and apply to internships.

We hope this rings loud & clear: You’re not alone, and we want to help you make college better. If there are things we haven’t thought of (and there are so many) that can or should be fixed with technology or external pressure, let me know. We’re eager to hear from you, help you solve problems, and make your college experience the best it can be.

-Dan

danr@chegg.com

Chegg and Ingram Form Strategic Alliance Accelerating Chegg’s Transition to Digital Revenue

Chegg Maintains Student Brand, Owns Customer Relationship and Data, Leverages Ingram’s World-class Logistics, Inventory Management and Network of Warehouses

Santa Clara, Calif. – Aug 4, 2014 – Chegg, The Student Hub, today announced a significant strategic alliance with Ingram Content Group Inc., the world’s largest distributor of books.

Key elements of the alliance include Chegg continuing to own the customer experience, including catalog, end-user pricing, marketing, customer support, ongoing student relationships and data. In addition, Chegg and its brand partners will continue to deliver surprise and delight to students with the products found inside of Chegg-branded boxes, which Ingram will use to fulfill orders.

Ingram will be responsible for the sourcing, warehousing, fulfillment, shipping and rental returns of their inventory and Chegg will receive a commission for textbooks rented or sold through its web and mobile sites, recording such commissions as digital revenue.

Chegg has already begun transferring ownership of a combination of current and new inventory to Ingram in anticipation of textbook volume for the upcoming fall semester. Chegg expects this will result in a substantial reduction in net cash expenditures on textbooks in Q3 2014 and in the second half of 2014.

Chegg and Ingram expect to continue migrating inventory ownership over the next several academic semesters, further reducing Chegg’s use of cash on print textbooks. Chegg expects this to strengthen its balance sheet and cash flow.

“We continue putting students first, reinforcing our direct relationship with them and accelerating our transition to digital revenue,” said Dan Rosensweig, chairman and CEO of Chegg. “By leveraging Ingram’s world-class logistical capabilities, this alliance allows Chegg to maintain all of the advantages of brand, customer acquisition, marketing and data from the print textbook business, while freeing up significant cash.”

“This is a long-term strategic growth opportunity,” said John Ingram, chairman and CEO of Ingram Content Group. “Together, we will improve service and delivery speed for Chegg’s students through the combined forces of Chegg’s consumer brand and reach, and our expertise in distribution and logistics.”

Chegg will discuss this agreement in more detail on its earnings call today, August 4, 2014, at 2:00 p.m. PDT (5:00 p.m. EDT). A live webcast of the call will be available online at http://investor.chegg.com under the Events & Presentations menu.

Netflix & Pandora Top The List of Students’ Streaming Preferences, Others Not Too Far Behind.

July 8  – With online streaming options continuing to increase, and the big dogs snatching up music start-ups (or starting their own), we took a pulse of the student community to understand how and where this demographic prefers to get their music and movie content online.

Movie & TV Steaming

Netflix tops the list, with 65% of students using the service to watch movies & TV online.  Only 9% of students claim Amazon Instant Video as their preferred channel, the same amount as those who prefer to download their movies for free through peer-sharing sites like BitTorrent.

Music Streaming

Perhaps most impressive is Amazon’s rise to the crowded music-streaming sector within such a short period.  Since the company’s Prime Music announcement in early June, 4 in 10 students say they’re aware of the service, likely due to the company’s extensive reach to both students and parents.

Overall, Pandora reigns as the most popular music streaming service (42%), which was also dubbed the best value (41%).  Spotify falls to second in popularity at 31%, then iTunes at 22%.  Pandora also tops the list as the most used service at 39%.  Beats Music, Rdio and Amazon’s Prime Music all rank last, with less than 3% combined actually using these services.

As a demographic expecting variety and personalization, the degree of music selection with these services is paramount. iTunes leads this category with 40% of students saying they have the best music selection, with Pandora following at 27%, then Spotify at 26%.

Brand Trust

Brand trust still sits in Apple’s camp, with 34% of students preferring the tech giant most.  Amazon and Google follow in second and third place with 15% of students not trusting any of them.

Methodology:

We surveyed 468 students between June 18 and 19 attending 2 year, 4 year, and graduate schools from Chegg’s proprietary national panel of 15,000 students.    Data was weighted and quoted to national norms.    Data is accurate to within +/- 4.5% at the 95% confidence level.

Women on College Campuses Feel Less Safe than Male Peers; Almost Twice as Many Women than Men Rank Assault as a Top Concern

Survey Reveals 6 in 10 Students Overall Worry about School Shootings; Striking Gender, Political Differences in Opinions about Safety, Prevention, and Media Hype of Campus Violence

What: Results of the latest student survey conducted by Chegg, The Student Hub, demonstrate the effect and influence recent school shootings and reports of campus violence have on the collective student body. As high profile school shootings and sexual assault reports have become a tragic, yet common, part of the American mainstream, Chegg asked students their feelings on the subject; particularly how safe they feel on campus, how they believe their schools are prepared to prevent violence, and whether or not they believe the news media have exaggerated the issues. The survey explored key themes and found:

Women are markedly more concerned about on-campus violence than men: Women also feel less strongly that their campuses are doing enough to prevent violence, including school shootings and nonlethal violence such as sexual assault:

• Asked how well their school does at preventing sexual assaults on campus 43% of female students believe their school is not doing enough, whereas nearly 7 in 10 (68%) male students believe they are doing enough.
• 41% of female students rank non-lethal assaults, including sexual assault, as a top concern on campus, while only 25% of male students do – that’s almost half. Conversely, 66% of male students rank property crimes as a top concerns, with only 48% of female students saying that.
• 51% of male students believe that the media exaggerates gun violence, compared with only 36% of female students agreeing with the same statement.

With this in mind, 45% of female students feel their school does not do enough to prevent gun violence, while only 36% of males feel likewise.

There are distinct differences along party lines as well:

• Conservative students feel most safe on campus, at 73%, while liberal students are slightly more cautious at 59%.
• Asked if their school does enough to prevent gun violence: 50% of liberal-leaning students say their school does enough, whereas 68% of conservative-leaning students believe that.
• Across the political spectrum, 65% of self-identified conservative students agree that the media exaggerates gun violence, while only 26% of liberals and 46% of moderates agree with the statement.

Students generally feel safe, but all have concerns:

• 56% of all students worry at least a little about school shootings; 9%, or nearly 1 in 10, students worry about school shootings a lot.
• In ranking on-campus safety concerns, together 55% of all students list property crimes as their top concern; 34% rank non-lethal assault (including sexual assault); only 10% of students rank gun violence as their top concern.
• 67% of all students report feeling safe on or near their campus.

Their real fears mean students aren’t overwhelmingly skeptical of media hype: The majority of students don’t believe media exaggerates gun violence in schools, and they also believe that gun violence results more from mental health issues vs. legislative controls. That said, they believe the country will likely enact stricter gun control measures:

• 58% of all students do not agree that the media exaggerates gun violence in schools.
• 69% of all students believe the epidemic in gun violence is more a product of mental health issues than it is a lack of suitable gun control legislation.
• 65% of all students believe the country is moving towards enacting, and ultimately will enact, stricter gun control measures.
• A significant minority (43%) of today’s college students would even be willing to give up their 2nd Amendment rights in order to have a safer society.

Why: Through its interactions with over 13 million high school and college students, Chegg has deep insight into the student landscape. As a student-first company, it’s Chegg’s prerogative to keep a constant pulse on the collective nationwide student mindset – from the brands they like, to the trends they follow, and even the differing views they have on the most recent news. While Chegg’s mission is to deliver tools and services to help this group be successful in their education, it’s paramount to also understand the other elements that make up the full student experience, because that also contributes to their long-term success.

How: Chegg polled its proprietary Cheggheads panel of more than 15,000 High School and College students. 1,765 students took the poll between June 12 and June 15. Data was weighted to national norms and is accurate +/- 2.3% at the 95% confidence level.

Chegg Agrees to Acquire a Leading Online Tutoring Network, InstaEDU

Continues to Democratize Education through Affordable Access to High Quality Tutors On-Demand, In Any Subject

Santa Clara, Calif. – June 3, 2014 – Chegg, The Student Hub, today announced that it has agreed to acquire InstaEDU, a leading on-demand tutoring marketplace, for $30 million in cash. InstaEDU has quickly scaled into a platform that connects students with on-demand tutors in more than 2,500 subjects, ranging from high school and standardized test prep, all the way through advanced college concepts for as little as $0.40 per minute.  The acquisition is subject to customary closing conditions. Chegg believes the acquisition will be accretive to earnings as early as 2015 and expects the acquisition to close by the end of June 2014.

“Students have been coming to Chegg for years to get homework help using our Chegg Study service when they’ve been stuck on a subject or need help mastering a concept. Now, they’ll have the ability to connect any time, day or night, with an expert tutor who can provide personalized assistance on practically any subject,” said Dan Rosensweig, Chairman and CEO of Chegg. “On-demand tutoring, anytime, anywhere, on any device is a very disruptive idea, and it’s about time that high-quality tutoring was made affordable and accessible for all students through technology.”

InstaEDU has grown rapidly by connecting students who need immediate assistance, as well as those seeking regular one-on-one sessions with a specific tutor, via the student’s choice of video, voice, or text.  All of InstaEDU’s tutors have been individually screened via InstaEDU’s proprietary qualification system, and receive feedback from their pupils via a public rating system. Selected from some of the top global universities, InstaEDU tutors earn extra money in their spare time while providing a valuable service that can benefit students anywhere, in any subject and at all income levels.

“We started this business because we recognized the opportunity to bring greater efficiency to a $60 billion global market through technology that makes one-on-one tutoring fundamentally more affordable and accessible for students anywhere,” said Alison Johnston Rue, CEO of InstaEDU, who is staying on to lead Chegg’s tutoring business. “Combining with Chegg instantly gives our on-demand tutoring platform access to Chegg’s network of 13 million high school and college students, and together we can move quickly to reduce the cost of learning and improve grades and graduation rates across the board.”

More information about the acquisition can be found at http://www.chegg.com or by emailing press@chegg.com. To explore the InstaEDU platform and sign up for a free trial visit http://www.instaedu.com.

About Chegg

Chegg puts students first and is proud to have saved students and their families more than $450 million in 2013 alone. As the leading student-first connected learning platform, Chegg’s Student Hub makes higher education more affordable and more accessible, all while improving student outcomes. Chegg is a publicly-held company based in Santa Clara, California and trades on the NYSE under the symbol CHGG. For more information, visit www.chegg.com

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which include, without limitation those regarding the belief that the acquisition will be accretive to earnings as early as 2015; the belief that Chegg’s reach will enable InstaEDU to connect many more tutors to students; the belief that Chegg and InstaEDU can together move quickly to and reduce the cost of learning and improve grades and graduation rates; the belief that on-demand tutoring, anytime, anywhere, on any device is a very disruptive idea; and the expected closing date of the acquisition. These statements are not guarantees of future performance, but are based on management’s expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: the risk that Chegg will be unable to successfully integrate InstaEDU and its employees and achieve expected synergies and the risk that consumer demand for online tutoring does not grow as significantly as we anticipate or that we will be unable to capitalize on any such growth. These and other important risk factors are described more fully in documents filed with the Securities and Exchange Commission, including Chegg’s final prospectus from its initial public offering, and could cause actual developments to vary from expectations. All information provided in this release is as of the date hereof and Chegg undertakes no duty to update this information except as required by law.

 

Chegg Workplace Diversity

Workplace diversity is something we take seriously at Chegg. Recently, there’s been a call for more corporate transparency in this area, and we are here today to answer that call.  Compared to the most recent national statistics, we think we compare quite well. But rather than cherry pick results or attempt to apply further spin, we’ve chosen to post this data, as it stands today, without further comment.

 

Chegg Announces First of Its Kind National Career Services Center for Students

Online Resource to Help Students Identify their Best Career Paths, the Skills they’ll need to Pursue those Jobs, and Access to the Online Courses that Develop Specific Skills Relevant to their Aspirations

SANTA CLARA, Calif., May 20, 2014 /PRNewswire/ — Chegg, The Student Hub, today introduced the Chegg Career Center, a first of its kind online resource for students and recent grads seeking to build their careers, land their first job, or find the best internships while still in school. The Chegg Career Center enables people to explore different career options, learn from professionals already in those fields, and understand the skills they need to pursue the jobs they want. The Chegg Career Center will also connect students with the online courses that will help them to acquire and develop the skills prospective employers in their chosen field demand. This new platform is designed to address the skills and knowledge gap that millions of graduates face every year as they transition from school to work.

“We are launching a national career center because we recognize that our economy and the needs of employers are changing far more rapidly than educational institutions are prepared to adapt,” said Chegg Chairman and CEO Dan Rosensweig. “Our goal in launching the Chegg Career Center is to empower students to make themselves more attractive candidates for the jobs they want to pursue. We are doing this by supplementing what students are learning in class, assessing the skills they have now, illustrating for them the skills they’re going to need, and providing students with access to the online courses and other tools that will quickly allow them to close those gaps.”

Chegg has been a leading voice¹ encouraging universities and employers to do more to address the 42% underemployment rate for recent grads². And, while the company has encouraged closer partnerships between schools and businesses³, particularly via increased investment in on-campus career centers, research shows that less than half of students have ever used their school’s career center⁴, further highlighting the need for a national online resource that is accessible to students while they’re on campus and long after they’ve graduated. Additionally, the Chegg Career Center will offer employers greater recruiting efficiency via a single point of access to a national pool of recent graduates who can easily be filtered by school, major, coursework, completed internships, skills, geography and more.

The initial launch of the Chegg Career Center is scheduled for May 27, 2014 and will include basic functionality such as internship and entry-level job search and career exploration pages. In August, Chegg will introduce additional functionality, including skills navigation tools and a skills marketplace where students can discover and purchase online courses that build the skills today’s employers demand. Chegg also plans to regularly add content, courses and other tools to supplement student learning and job matching over time. For more information on Chegg, the Chegg Career Center, including partnership opportunities, or the research commissioned by Chegg, please visit http://mediacenter.chegg.com/2014/05/19/research-improving-student-outcomes/ or email press@chegg.com.

About Chegg

Chegg puts students first and is proud to have saved students and their families more than $450 million in 2013 alone. As the leading student‑first connected learning platform, Chegg’s Student Hub makes higher education more affordable and more accessible, all while improving student outcomes. Chegg is a publicly‑held company based in Santa Clara, California and trades on the NYSE under the symbol CHGG. For more information, visit www.chegg.com

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which include, without limitation those regarding Chegg’s plans for adding additional functionality, content, courses and other tools to supplement student learning and job matching in August and over time. These statements are not guarantees of future performance, but are based on management’s expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: changes in the time necessary to develop additional functionality, content, courses and other tools, the rate of adoption of Chegg Career Center and other factors. These and other important risk factors are described more fully in documents filed with the Securities and Exchange Commission, including Chegg’s final prospectus from its initial public offering, and could cause actual developments to vary from expectations. All information provided in this release is as of the date hereof and Chegg undertakes no duty to update this information except as required by law.

¹ http://www.chegg.com/pulse
² https://mckinseyonsociety.com/voice-of-the-graduate/
³ http://mediacenter.chegg.com/2014/04/22/chegg-speaks-at-asugsv-education-innovation-summit/
⁴ https://mckinseyonsociety.com/voice-of-the-graduate/

 

Research: Improving Student Outcomes

Today’s colleges face many challenges in helping prepare students for the workforce. As more students attend college and costs continue to rise, higher education institutions will be under increasing pressure to prepare students for the workforce. Gaps in workforce preparedness contribute negatively to employers’ views of graduates, the reputation of colleges, and the well-being of young adults. There is a sense that college curricula are struggling to keep pace with the changing needs of the workforce.

Creating desired outcomes for students will require closer partnerships than exist today between institutions, industry, and students themselves. However, disagreement on the goals for higher education and where responsibility and accountability lie may be inhibiting this partnership from moving forward.

To delve deeply into these issues, Chegg commissioned a survey research project with Crux Research, a research consultancy well-known for its work in education. The goal of this new Chegg research is to explore beliefs around accountability and ownership in creating a hirable, attractive, ready-to-work population from U.S. colleges and universities. This study sheds new light on issues of workforce preparedness, the unique perspectives of faculty and employers, and the need for a new approach to the way faculty and employers work together.

For more details on the study, download the white paper here: Improving Student Outcomes: Whose Job Is It to Close the Gap?

Chegg Appoints Mitch Spolan as Company’s Top Sales Executive

Former LivingSocial EVP of Global Retail Joins Chegg as Executive Vice President of Marketing Services

SANTA CLARA, Calif., May 9, 2014 /PRNewswire/ — Chegg, The Student Hub, today announced Mitch Spolan has joined the company as Executive Vice President of Marketing Services, a new role that will oversee sales across Chegg’s Enrollment Services, Brand Partnerships and Chegg Deals lines of business. Spolan’s hiring comes fast on the heels of Chegg’s acquisition of student deal platform Campus Special, which has since been rebranded Chegg Deals, which the company believes extends its ability to deliver value and engagement to students on a daily basis.

“Mitch is an exceptional leader and salesperson, who like me was raised by a public school teacher, and comes to us with the same passion for education and students that all of us at Chegg share,” said Dan Rosensweig, chairman and CEO of Chegg.  “We have very big plans at Chegg, and we couldn’t be more thrilled to add Mitch’s energy and talent to our team.  This is a very exciting time in a rapidly changing market.”

Spolan brings more than 17 years of interactive media sales experience and leadership, in roles at LivingSocial and Yahoo!. Most recently, Spolan served as the EVP, Global Retail at LivingSocial where he led the National Sales team and developed and launched LivingSocial Stampede™, LivingSocial Amplifier™, and LivingSocial Coupons to effectively connect consumers directly with clients. Prior to LivingSocial, Spolan served as Vice President, North American Field Sales at Yahoo! where he was responsible for all Fortune 500 advertising revenue for North America.

“I started my professional career as an architect, and I remain a builder at heart,” said Spolan.  “I’m looking forward to applying all I have learned in 17 years of sales, and sales management, to help build something truly unique in the world: a company that puts students first, and helps them to achieve their own educational and career aspirations.  What an opportunity to be a part of delivering a real and lasting social good.”

Spolan’s first official day at Chegg is May 28. For additional information, please contact press@chegg.com.