The Chegg tutoring company announced on Thursday that its online platform, called CheggTutor, will be selling its technology for $1.99 per month.
The company will also be selling a subscription service that will let customers learn Korean as a free, one-time service for $99 a year.
Chegg says it has 1.6 million customers who use the app to learn Korean.
It was created in 2007 as an alternative to traditional textbooks and now competes with Amazon’s Kindle, Microsoft’s Surface, and Apple’s iPad.
Cheers to @chuckpitt and @chuggingnews for the #CheggTutoring news!
pic.twitter.com/s9yJQ2kF9p— Chegg (@Chegg) February 22, 2021 The company also announced that its first billion-dollar-plus acquisition will be its $1 billion acquisition of Korean streaming service YTV, which is owned by the parent company of Korean TV network TVToday.
It says the $1bn deal will give Chegg a new revenue stream.
The company’s acquisition comes on the heels of a slew of other tech deals.
Last month, Amazon announced that it was partnering with the company to create an online shopping app, Amazon Prime, that would allow customers to buy stuff with cash, without having to spend money on Amazon.
The deal also included a $2.5 billion deal with Korean entertainment company Daewoo to buy a controlling stake in YTV.