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New details on Chegg’s June acquisition of Notehall came through SEC filings yesterday.
We do not know how much cash the textbook renting company paid for Notehall, a provider of lecture notes, but according to the form D, Notehall received $3.7M in equity.
Chegg declined to comment on the filing.
It is no wonder that rumblings of a Chegg IPO are surfacing. The company has matured faster than a freshman after his first keg stand. In the past year, Chegg acquired both Notehall and CourseRank, a site that expands course descriptions help students choose their schedules. It also nabbed Elizabeth Harz, former senior vice president of global media sales of Electronic Arts to head up their brand partnership program, which brings the ever popular “daily deals” model to Chegg’s offerings.
Chegg is not unfamiliar with funding either. It received $75M in 2010, $57M in 2009 and $25M in 2008. Investors include Kleiner Perkins Caufield and Byers, Primera Capital, Insight Venture Partners and more.
The company vows to keep itself on students’ radar screens 365 days a year, not just at the beginnings of semesters when students are renting textbooks, and is providing solutions to promote out-of-classroom educational engagement. In addition to its acquisitions, Chegg is playing into universities’ green-lust by teaming up with America’s Forrests’ Global ReLeaf Program to plant a tree for every student who uses the service.