Chegg Inc, an Internet company that rents textbooks and provides other services, is acquiring an on-demand tutoring service for $30 million in cash, the company said on Tuesday. The deal for InstaEDU, which Chegg said is expected to close by the end of the month, furthers Chegg's push to diversify its business from school textbook rentals amid intensifying competition with Amazon.com Inc.InstaEDU allows students to get help from online tutors in more than 2,500 subjects, from high school math to college-level science. The tutors connect with students through online video, audio and text chats.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail websites and focus on selection, price, and convenience. Shares of AMZN remained unchanged at $308.84. In the past year, the shares have traded as low as $263.02 and as high as $408.06. On average, 4598490 shares of AMZN exchange hands on a given day and today's volume is recorded at 1465.
Chegg, Inc. (Chegg) is the student-first connected learning platform, empowering students to take control of their education to save time, save money and get smarter. Shares of CHGG remained unchanged at $5.41. In the past year, the shares have traded as low as $4.82 and as high as $11.25. On average, 445138 shares of CHGG exchange hands on a given day and today's volume is recorded at 0.
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