Student services company Chegg announced plans last week to acquire the online coding school Thinkful. To investors in the ed-tech space, the deal was not a surprising one — lots of ed-tech companies have been busy acquiring boot camps of late. Earlier this year, online program management company 2U snapped up Trilogy Education for a cool $750 million, and Zovio (formerly Bridgepoint Education) acquired Fullstack Academy for $17.5 million in cash plus 4.5 million shares of common stock.
But for Chegg, which started out as a textbook rental company, the deal represents a notable departure. Chegg already offers a wide range of educational services, such as online tutoring and test prep, but this acquisition marks its first big step into educational provider territory. It is also Chegg’s biggest acquisition