Chegg Cuts $30M Check for InstaEDU

INSTAEDU: Acquired by Chegg, a publicly traded textbook rental company, for $30 million in cold hard cash, according to San Francisco Business Times. InstaEDU, founded in 2012, connects users with tutors from top-tier universities. The company has raised $5.1 million in venture funding from Social+Capital Partnership LP, Battery Ventures and others. Choosing cash over stock is a smart move, since Chegg's stock has fallen from its IPO price of $12.50 per share to $5.41. The deal is expected to close by the end of the month.

Stay up to date on edtech. News, research, and opportunities - sent weekly, for free.

Who we are

EdSurge helps schools and colleges find, select and use the right technology to support all learners.
© 2011-2017 EdSurge Inc. All rights reserved. Every student succeeds.