Chegg has filed a federal antitrust lawsuit against Google, alleging that its AI-generated summaries, or 'AI Overviews', are detrimental to Chegg's website traffic and revenue. The lawsuit claims Google has maintained monopoly practices, compelling Chegg to provide proprietary content for inclusion in search results, while reducing visibility for Chegg’s own links. Chegg CEO Nathan Schultz contends Google's actions are unsustainable and have significantly impacted the company, as evidenced by a 49% drop in non-subscriber traffic. Meanwhile, Chegg explores strategic options including potentially going private or selling due to its plummeting stock value.
Chegg has a superior product for education, as evident by our brand awareness, engagement, and retention. Unfortunately, traffic is being blocked from ever coming to Chegg because of Google's [AI Overviews] and their use of Chegg's content to keep visitors on their own platform.
Google has unjustly retained traffic that has historically come to Chegg, impacting our acquisitions, revenue and employees... their conduct is harmful and unsustainable.
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