When schools or professors ask, Chegg turns over the account info of students who accessed forbidden material or sought or received answers to exam questions from “tutors.” Where accounts match student e-mail addresses or it can be inferred, it does not take Sherlock Holmes to make the case.
If you can cut down on account sharing, you ought to be able to increase paid subscriptions.Īnd to their credit, Chegg has helped turn in the cheaters. They are, Brown said, “developing technologies to try to either eliminate or reduce account sharing” and “I don’t think we comprehended as a company how big account sharing has been.” That makes sense. While growth is strong and likely to continue so long as students are displaced and studying online, Brown said the company is focused on cracking down on account sharing. CFO Andy Brown also told investors on a June 24 video call, “We’ve clearly been seeing tailwinds since the shelter in place and kids were learning off campus.” Those tailwinds and trends boosted their earnings, and it seems their stock value, accordingly.īut buried in that video call with the CFO though was a nugget that could give investors pause. Their last earnings report described “remarkable trends” as students went home including, “a substantial increase in new subscribers, both domestically and globally. Chegg Inc (NYSE: CHGG), the online tutor and academic answer provider, has enjoyed a nice ride since March, when Covid-19 forced schools to close their campuses.
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