We’re hearing that online textbook rental service Chegg has completed its third acquisition today, snapping up lecture notes and study guides service Notehall for an undisclosed amount of cash and stock.
Chegg, which has received over $219 million in financing and hit revenues in the ballpark of $130 million in 2010, is also reportedly “deep in talks” with bankers regarding its plans to go public.
Notehall, which like a micro-Chegg congruously offers a platform for students who want to buy and sell course materials, will be Chegg’s third acquisition after it snapped up other education-related startups Courserank and Cramster last year.
Notehall was founded by University of Arizona students Sean Conway, Justin Miller, Fadi Chalfoun and D.J. Stephan in 2008 while they were still at the university. The startup was originally financed with co-founder Justin Miller’s bar mitzvah money and eventually ended up taking part in the Dreamit Ventures incubator program as well making an appearance on the TV show Shark Tank.
Notehall currently offers its services at 54 universities across the US and pre-acquisition was expected to grow 400% this year, hoping to hit 750K users by the end of 2011.
Chegg, an online textbook rental company, was inspired by Osman Rashid and Aayush Phumbhra’s frustration with the policies and procedures of their own university’s bookstore. Osman and Aayush knew there had to be a better solution, one that worked for students, professors and publishers alike. Chegg was launched at Iowa State University in 2005 as a hyper-local classifieds directory. In fall 2007, Chegg introduced their revolutionary textbook rental service. Chegg now offers its services to more than 6,400 universities and...
Notehall is an online marketplace that allows college students to buy and sell appropriate class materials such as lecture notes, reading notes & study guides Fellow classmates helping them get an edge in their specific classes while student sellers make money doing something they already do anyway. Notehall is active and generating revenue at 54 Universities and continuously expanding its college reach. The company expects to be active in more than 200 Universities by the end of 2011 with more...