College One-Stop Shop: Chegg Buys Web Tutoring Service
Online textbook rental and education service Chegg Inc. has acquired Web tutoring service Student of Fortune, Inc. for cash and company stock as the start-up broadens its business to try to become a one-stop-shop for college students.
The purchase price was not disclosed but a person familiar with the matter said the tutoring Web site was profitable and enjoyed high margins since it only has five full time employees.