Notehall (Acquired by Chegg 6/11)

Notehall operated as a peer-to-peer online marketplace tailored for the higher education market, enabling college students to buy and sell class-specific academic materials. The platform was founded in 2008 by University of Arizona students Sean Conway, Justin Miller, D.J. Stephan, and Fadi Chalfoun. The idea originated from co-founder Sean Conway's personal challenges with ADHD, which sparked the concept of a shared platform for course notes to assist students. The company's primary product was a digital marketplace where students could upload and monetize their own study materials, such as lecture notes, study guides, and outlines. Buyers could purchase credits on the site to access and download these documents, with Notehall implementing a revenue-sharing model where it took a 50% commission from each sale.

The company gained significant visibility after an appearance on the ABC reality show *Shark Tank* in October 2009. On the show, founders D.J. Stephan and Sean Conway secured a televised deal with investor Barbara Corcoran for $90,000 in exchange for 25% equity. However, the founders ultimately declined the offer post-show and instead participated in the DreamIt Ventures accelerator program, which provided mentorship and further funding. This strategic pivot proved successful, fueling the platform's expansion. Within its first eight months, Notehall had attracted 40% of the student body at its pilot campus, the University of Arizona. The platform's growth continued, and by 2011, it had a presence at over 50 universities with more than half a million users.

In June 2011, Chegg, a prominent educational technology and textbook rental company, acquired Notehall. The deal was valued at approximately $3.7 million in equity, plus an undisclosed amount of cash. Following the acquisition, the Notehall service was integrated into Chegg's broader suite of student services, specifically its Homework Help section, and the original Notehall website was redirected. The acquisition marked a successful exit for the founders, who were subsequently hired by Chegg. Despite its success, the business model faced criticism from some university officials regarding the commercialization of course materials and potential intellectual property issues.

Keywords: Notehall, Chegg, Sean Conway, DJ Stephan, Justin Miller, student marketplace, class notes, study guides, peer-to-peer education, edtech, Shark Tank, DreamIt Ventures, online learning, note sharing, academic materials, University of Arizona, homework help, college students, digital documents, course materials