Chegg, an online textbook rental company, has bought Cramster, which provides online homework help. Financial terms weren’t disclsoed. Santa Clara, Calif.-based Chegg has raised around $144 million in private equity and debt, from groups that include Kleiner Perkins, Foundation Capital and Insight Venture Partners.
Chegg, the number one online textbook rental company, today announced that it has acquired Pasadena-based Cramster, the leading social platform providing online homework help. The new service adds to Chegg’s popular textbook rental and new course planning services.
Cramster is the largest online study community made up of college and high school students, teachers, professors, parents and subject matter experts who contribute information in nearly all subjects to a vast collection of study resources, including expert Q&A help, textbook solutions, practice tests and problems, study groups and more.
“Chegg and Cramster share the same vision of providing students with value throughout their college experience,” said Dan Rosensweig, President and CEO of Chegg. “We are always striving to offer students the very best tools to help them save time, money and get smarter, and Cramster is the natural fit to expand on our offering.”
“We’re very excited to become a part of Chegg and align ourselves with a market leader that continues to evolve to meet the needs of students everywhere,” said Cramster co-founder Aaron Hawkey. “We started Cramster to help students get unstuck when they need help most and we look forward to expanding this vision with Chegg.”
Cramster, founded in 2002 by Aaron Hawkey, Robert Angarita and Kaveh Golabi, has seen tremendous growth in the past year. To date, the online study community has more than one million members and continues to grow every day.
Students can sign up for either a free or premium membership. For more information, visit www.cramster.com.
Founded in July 2007, Chegg is the number one online textbook rental company that has saved students millions of dollars on more than 6,400 campuses nationwide. Students can access Chegg in a variety of ways: online at Chegg.com and Borders.com, from the Chegg iPhone app and on select campus bookstores through the Powered by Chegg program . As a part of the company’s on-going environmental efforts, Chegg plants a tree every time a student rents through a partnership with American Forests’ Global ReLeaf program. In addition, the company recently acquired course scheduling tool, CourseRank.com, to help students manage and plan their academic careers. The company has grown into a respected and trusted brand used by college students and was recently named to Time’s Top 50 Websites . For more information, visit http://www.chegg.com