"Technology shifts have created headwinds for our industry and Chegg's business specifically. Recent advancements in the AI search experience and the adoption of free and paid generative AI services by students have resulted in challenges for Chegg."
"I believe Google is shifting from being a search origination point to the destination in an attempt to keep market share. This has affected our business outlook significantly."
"Students see generative AI tools, like ChatGPT, as strong alternatives to Chegg, leading to a significant drop in web traffic and subscriber counts."
"In the last quarter, Chegg lost more than $212 million and experienced a loss of over 500,000 subscribers, highlighting the urgency of the situation for the company."
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