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€12.5m

Valuation: €12.5m

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Math 42, developed by the German-based Cogeon GmbH, was a mobile application designed to assist with mathematical problems. The company was established in 2013 by a family of mathematicians and technical experts: brothers Maxim and Raphael Nitsche, their father Thomas Nitsche, and stepmother Oxana Nitsche. The idea for the app originated from the Nitsche brothers' experience tutoring other students, where they noticed recurring questions and saw an opportunity to automate the process. Their father, Thomas, a mathematician and software developer known for creating the world champion chess computer "Mephisto," was persuaded by his sons to develop the application.

The app's primary market consisted of students and teachers, providing a tool for homework assistance and self-study. Its core functionality allowed users to input mathematical problems and receive step-by-step solutions, detailed explanations, and graphical representations of functions. The platform covered a range of topics including simplifying terms, functions, equations, and matrices. Math 42 operated on a freemium model, where basic features were free, and advanced functionalities required payment. The name itself is a nod to Douglas Adams' "The Hitchhiker's Guide to the Galaxy," where 42 is the answer to everything, combined with "Math".

In 2015, the Nitsche brothers appeared on the German television show "Die Höhle der Löwen" (Germany's version of "Shark Tank"), seeking a significant investment. While they didn't secure a deal on the show, the publicity led to a surge in downloads and eventually an investment from the Klett publishing group. A major milestone occurred in October 2017 when the American education technology company Chegg, Inc. acquired Cogeon GmbH for approximately €12.5 million, with potential for further performance-based payments. The acquisition was intended to bolster Chegg's capabilities in the mathematics space. Following the acquisition, Math 42 was integrated and eventually replaced by the Chegg Math Solver app in 2019.

Keywords: Math 42, Cogeon, Chegg, Maxim Nitsche, Raphael Nitsche, Thomas Nitsche, math solver, education technology, mobile learning, step-by-step math solutions, homework help, mathematics app, EdTech acquisition, Klett Verlag, Die Höhle der Löwen, algebra helper, calculus tool, educational software, math tutoring, Chegg Math Solver

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