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Chegg To Initiate Business Review Amid AI-Shift in Education Tech

mardi 25 février 2025, 15:00 , par Slashdot
Chegg To Initiate Business Review Amid AI-Shift in Education Tech
Online-education company Chegg said it is conducting a business review and exploring alternatives such as selling the company or taking it private as it continues to lose subscribers to artificial-intelligence-enabled rivals. From a report: Chegg and other virtual-learning companies have ceded ground to generative-AI companies such as ChatGPT, which provides free alternatives to the homework help that Chegg charges $19.95 for to its subscribers. Although Chegg built its own AI products, the company has faced scores of canceled subscriptions. The business review comes as the company swung to a loss in the fourth quarter, with revenue falling 24%, and guided for lower-than-expected revenue for the first quarter. In November, Chegg said it would cut its workforce by an additional 21%. Chegg's shares have fallen 99% since its peak in 2021.

Read more of this story at Slashdot.
https://yro.slashdot.org/story/25/02/25/1351212/chegg-to-initiate-business-review-amid-ai-shift-in-e...

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Date Actuelle
mar. 25 févr. - 23:23 CET