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The next day, Chegg's stock price collapsed by 48% in response. [23] Chegg announced that it would launch a GPT-4 powered AI platform called Cheggmate later in May 2023. [23] By June, CheggMate was in testing mode, but wasn't expected to publicly launch until 2024. [24]
Chegg stock has taken a hit and is trading roughly 20% below its highs heading into its first quarter financial ... 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us.
[17] [18] Additionally, the company paid the salaries of Ukrainians who left their jobs at Grammarly to join the nation's army [19] and made its product free for Ukrainian journalists publishing news about the war in English. [17] In April 2023, Grammarly launched a product using generative AI built on the GPT-3 large language models. [20]
In 2017, Chegg partnered with Sallie Mae to provide student borrowers access to Chegg Tutors. [7] In late 2020, Chegg announced that Chegg Tutors would be discontinued in 2021. The last day for lessons was announced as January 15, with the last payments to tutors to be made on January 22, and the site to cease operations on January 31. [8]
Chegg stock has lost nearly 70% over the last year and has been roughly cut in half in 2024. From its peak in 2021, the stock is down over 95%. Since the launch of ChatGPT in late 2022 the company ...
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