Chegg Expands into $7 Billion College Recruiting Market; Increases Student Base by Over 3.5 Million
Chegg acquires Zinch, the leading digital network that helps high school students research, connect with and pay for college
SANTA CLARA, Calif., Sept. 15, 2011 /PRNewswire/ -- Chegg today announced it has acquired Zinch, expanding its social education platform into high schools. Zinch, founded in 2007, connects prospective college and graduate students to scholarships, admissions officers and other students who have been through the same process.
The acquisition of Zinch, with over 3.5 million members, $1.9 billion in scholarships and over 5,000 school profiles, significantly expands Chegg's customer base and its social education platform. Now colleges and students can connect more effectively for less through Chegg, helping to streamline the college recruiting process globally. In addition, unlike any other company in the education space, Chegg now provides resources to students at every major milestone before, during and after their college career – including bridging the gap from high school to college.
"Our mission has always been to save students time, money and help them get smarter," said Dan Rosensweig, president and CEO of Chegg. "With our acquisition of Zinch, we're extending our mission to high school students through the $7 billion college recruiting market, while continuing to break down the barriers of a college education, from the high cost of tuition and textbooks to helping students make money, pick their courses and get the academic help they need."
At Zinch, over 3.5 million students have built online profiles to showcase themselves as "more than test scores" to shine in the admissions process, and to be matched with schools and scholarships that might be a good fit. Colleges and universities worldwide, including more than half of the US News top ranked national universities, use Zinch for cost-effective student recruiting and outreach.
"Getting in and paying for school is daunting. Together, Chegg and Zinch can not only make higher education more affordable and accessible, it gives students an edge in finding the right school, getting admitted and reducing the cost. Students can put their best foot forward, be recognized for their achievements and be discovered by programs that fit their interests," said Anne Dwane, CEO of Zinch.
The acquisition is subject to standard closing conditions and is expected to be completed by the end of this month.
To learn more about Chegg's social education platform and its network of services, go to www.chegg.com.
Chegg, the social education platform, is transforming the way millions of students learn by connecting them to the people and tools needed to succeed in college. Students on more than 7,000 campuses nationwide use Chegg 365 days a year for: Homework help, Course selection, Note taking, Textbook and e-textbook rentals and Student deals. As a part of the company's philanthropic efforts, Chegg is dedicated to its Chegg For Good program, where it does good for education, the environment and various communities. Since its founding in 2007, Chegg's growth has made it one of Silicon Valley's most successful start-ups. From starting as a purely textbook rental company to evolving into the education network, Chegg is disrupting (and enhancing) education for millions of students. For more information, visit www.chegg.com.
Zinch is the social utility matching students with opportunities: colleges, scholarships, study abroad programs, and graduate schools. At Zinch.com, 3.5 million students worldwide have created 'professional' profiles to showcase themselves as more than test scores. Zinch profiles 5,000 undergraduate and graduate programs, and lists almost $2 billion in scholarships. Admissions Officers trust Zinch to help them engage and recruit students. Visit the company at www.Zinch.com and www.Zinch.cn.
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