Edtech Earnings Roundup: How 2U, Chegg, Instructure and Pluralsight Fared in Q2 2019

Edsurge

The latest quarterly earnings for publicly traded education technology companies was especially rough for 2U , which revised its loss guidance for the year and stated that it expected enrollment challenges to its core business of running online graduate programs with universities.

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Chegg Cuts $15 Million Check to Buy AI-Feedback Tool, WriteLab

Edsurge

Chegg announced today that it bought the Berkeley-based startup for about $15 million in an all-cash transaction. Even so, Ramirez described the edtech environment as “extremely challenging.” What made the offer from Chegg appealing, Ramirez said, “is the opportunity not just to be an isolated component of students’ work, but to simplify the student experience and provide them with more of what they need to succeed in college.” His advice to other edtech entrepreneurs?

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Edtech Industry Magnate Michael Moe Makes a Pivot

Edsurge

Over the past decade, Michael Moe and his business partner, Deborah Quazzo, have been central players in building the education technology economy. Together they have run the ASU GSV Summit , the annual must-go-to event for business leaders and investors in edtech.

Stale Words and Hackneyed Ideas That Make Edtech Investors Cringe

Edsurge

Dreamit Edtech network to get their “lemon lists” of concepts, statements, and business models that edtech entrepreneurs may want to think twice—or thrice—about. Chatbots are hip and cool these days and, while I agree that they have a lot of potential, most of the pitches are simply applications that turn IBM Watson’s natural language processing technology loose on a university’s existing FAQ page. Chegg (or Amazon for that matter)?

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The 2019 EdSurde Annual Special: Edtech April Fool’s News That Should Stay Fake

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Chegg’s chalked up an excuse-generator to help you weasel out of doing homework, taking tests—just about anything. Chief Mascot Ronald confided with EdSurge that it is considering integrating that technology with school information systems to tweak Happy Meals based on how well children do in school. A stealth San Francisco-based edtech startup offered a glimpse of a “revolutionary” new product. A secret, patented technology reduces eye strain.

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Fueled by Big Rounds, Edtech Funding Surges to $887M in First Half of 2017

Edsurge

edtech companies last year, the dollars returned with a fury during the first six months of 2017. edtech startups is already at 88 percent of the total in 2016 ( which was $1 billion ). Just three years ago, some of the biggest firms on Sand Hill Road—Kleiner Perkins, Sequoia Capital, Benchmark Capital—were happily putting money into edtech startups with unproven revenue models. Home-run bets and financial windfalls are rare in the edtech industry.

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Reach Capital’s Newest Education Technology Investment Fund Closes at $82 Million

Edsurge

based firm has established itself as a familiar name within the education technology industry. It eyed the edtech industry as early as 2014, says Elizabeth Fisher Marshall, a managing director at Hall Capital, but “our concern at the time was the depth of the opportunity set and the unproven exit market.” Earlier in 2018, Pluralsight, which provides online classes for technology and business professionals, went public. WriteLab (Chegg).

Education Technology’s Machine Learning Problem—and Responsibility

Edsurge

But how is machine learning playing out in education—and how does it impact not just students, educators and parents, but also the businesses building technology tools to support teaching and learning? At the SF Edtech Meetup, hosted by EdSurge on July 10, four panelists gathered to discuss the challenges around deploying machine learning in the classroom and the boardroom. Machine-learning technology can help humans perform these types of tasks. “I

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Platzi Raises $6 Million to Bring More Online Education to Latin America

Edsurge

Gonzalez’s firm last invested in student services provider Chegg, but hadn’t found another education company that piqued his interest until his firm started talks with Platzi. Education Technology Edtech Business Coding Adult Learning Financing

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In Move to ‘Unlimited’ Pricing Model, Cengage Hopes for a Comeback

Edsurge

Over the last 10 years or so, the majority of the acquisition activity for smaller edtech startups came from the big textbook companies. But now that we have built an ecosystem of millions of subscribers, it is much easier to filter out which edtech startups actually add value to that ecosystem. So if an edtech startup is focused on enhancing the learning experience for students and faculty, that's the sweet spot that we're focused on. I think Chegg is doing well in that.

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Gig’s Up: CreatorUp Raises $1 Million to Train and Match Creative Professionals for Work

Edsurge

To support that effort, the startup has raised $1 million in a seed round from a group of investors that include Metallavon VC, an early-stage investment fund based in Greece, and LearnStart, the seed fund affiliated with edtech investment firm Learn Capital.

Pearson Is Selling Its US K-12 Business—Despite Posting a Profit and Digital Growth

Edsurge

Earlier this month, McGraw-Hill, Barnes & Noble Education and Chegg teamed up for a new digital textbook rental program that the trio claims can help students save as much as 70 percent from buying print copies. Education Technology Enterprises Edtech BusinessLast May, major textbook publisher Pearson indicated it was mulling a sale of the U.S. portion of its K-12 business, which includes print and digital curriculum and instructional materials.

Acquisition Autopsy: Details—and Questions—Behind MissionU’s $4M Sale to WeWork

Edsurge

In addition to MissionU’s institutional investors, the company attracted executives and well-known names in the education industry including Chip Paucek (CEO of 2U), Dan Rosenzweig (CEO of Chegg) and Ted Dintersmith, a former investor-turned-education philanthropist. Education Technology Mergers and Acquisitions Edtech BusinessUsually, when a hot startup gets acquired by an even hotter one, the industry cheers.

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More Big Bucks for Tutoring Companies: Varsity Tutors Raises $50M in Series C Funding

Edsurge

Other investors include the Chan Zuckerberg Initiative and existing backer Technology Crossover Ventures. Varsity Tutors is not the only one chasing the tutoring market, which is saturated with traditional, brick-and-mortar competitors like Kumon and Sylvan Learning and online upstarts like Chegg and Wyzant. Education Technology Financing Edtech BusinessTutoring is big business. Wealthy families fork out more than $1,000 an hour for top teachers.

EdSurge HigherEd Year in Review: Our Top Higher Education Stories of 2018

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That’s why we’ve also highlighted a few here that we don’t want you to miss, from complicated community college turnarounds to where IKEA and edtech overlap. Cheating on Chegg? It’s no surprise that students would ask for help on platforms like Chegg, which offer digital textbooks as well as tutoring and homework help. What Do Edtech and IKEA Have in Common? Technology shapes our behavior everyday. And edtech is no stranger to it.

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Where in the World Is Planet3? An Educational Gaming CEO Seeks His Second Act

Edsurge

Kelly met him through Planet3 co-founder Albert Yu-Min Lin when Lin received an award sponsored by Switch, Kelly told EdTech Digest at the time. Education Technology Financing Game-Based LearningWhen Tim Kelly started Planet3 in 2013, he aimed for the stars.

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Blackboard Co-Founder: ‘4 Secrets to Building a Tech Company for Higher Ed’

Edsurge

To mark the 20th anniversary of Blackboard, one of the first LMSes, the company’s co-founder, Matthew Pittinsky, wrote an epic blog post about the company’s history, which includes his advice for today’s edtech leaders. Colleges were spending millions networking classrooms and residence halls, and I wondered about the absence of technology in the “front office” for teaching and learning. It was a tools and technology and service provider.

Hack Education Weekly News

Hack Education

Each week, I gather a wide variety of links to education and education technology articles. ” Via Inside Higher Ed : “Colleges Use Technology to Help Students Manage Mental Health.” Via The Atlantic : “ Police-Grade Surveillance Technology Comes to the Playground.” Via The Seattle Times : “As facial-recognition technology grows, so does wariness about privacy.

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Hack Education Weekly News

Hack Education

Each week, I gather a wide variety of links to education and education technology articles. Via Forbes : “The Startup President: How France ’s Macron Nearly Built An EdTech Company.” ” An op-ed from someone from Kelly Services – you know, the temp agency – in Edsurge on “Why Solving the Teacher Shortage Is Critical for Edtech.” Via Campus Technology : “ University of Washington Continuum College Launches Coding Boot Camp.”

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Hack Education Weekly News

Hack Education

“Is Your Edtech Product a Refrigerator or Washing Machine?” I love this headline from Campus Technology , which echoes the wise words of Bill and Ted from their excellent adventure: “ Ed Tech Changes … and Stays the Same.” ” Pearson and Chegg are partnering for textbook rentals. “Why Fixing the Pipeline Alone Won’t End Edtech’s Diversity Problem ,” says Edsurge. Education Politics.

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Hack Education Weekly News

Hack Education

Via eCampus News : “Is higher ed ready for the big edtech explosion ?” VR “comes of age,” says Campus Technology. ” Via the press release : “ Cengage , McGraw-Hill Education , and Pearson have joined forces with Ingram and Chegg , Inc. ” Via Campus Technology : “New Education Think Tank Debuts, Offering Online News and Research.” Education Politics.

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