Chegg Acquires Internships.com

Career College Central Summary:

  • Chegg announced that it has acquired Internships.com, a division of CareerArc Group LLC. on October 2, 2014.
  • Internships.com, will add 2 million registered students, 380 university relationships, and 90,000 internships from 60,000 companies to the Chegg Career Center.
  • "With this acquisition, Chegg is poised to disrupt the highly inefficient and fragmented $5 billion college recruiting market," said Dan Rosensweig, Chairman and CEO of Chegg. "
  • Closing the skills gap and finding students career opportunities is critical for improving student outcomes in a global economy.
  • Adding Internships.com enables Chegg to fundamentally improve matching between students and employers, helping businesses to better identify the best candidates and students to develop the real world job skills they'll need upon graduation."
  • Chegg acquired the data and assets of Internships.com for $10 million in cash and approximately $1 million in shares of Chegg Common Stock.

Click through to read the full press release.

CHEGG

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