CHEGG IT OUT: Chegg, a publicly-traded provider of textbook rentals and online student services, has acquired StudyBlue, a company that offers study tools such as flashcards, for $20.8 million in cash.
Founded in 2006, StudyBlue had raised more than $20 million in venture capital, according to Crunchbase. On its website, the company claims it reaches 15 million students and has more than 400 million flashcards, notes and study guides.
According to the press release, StudyBlue will become a Chegg service. Among Chegg’s plans will be an effort to “utilize StudyBlue’s insights from 10 years of data on student learning.” Said Chris Klündt, StudyBlue’s co-founder, in a prepared statement: “Combining with Chegg will help us rapidly accelerate our roadmap, leverage our data, and offer our tools more affordably, enabling us to reach, and help, even more students.”
