To get you up to speed for the week ahead, we serve you a Monday Ristretto here on EDUKWEST by picking the most important reads from the past week, putting them in a grinder and extracting the essential information for a short and punchy brew.
As every week, we’ve got three shots for you. Lesson plan marketplace Teachers pay Teachers raised venture funding. Chegg announces expansion into internships and career planning and Apollo Education enters Africa.
Teachers pay Teachers now venture backed
After seven years of bootstrapping his startup, Paul Edelman bit the bullet and raised a venture round from three prolific VC firms. Interestingly, a big chunk of Teachers pay Teachers 3 million users have signed up over the past 12 months, about the timeframe in which John Yoo took over as CEO from Edelman.
I kind of see parallels to Udemy here. An external executive taking over as CEO, growing both user base and revenue significantly and then raising a sizeable venture round (though we don’t know the financial terms at TpT). Let’s hope for the TpT users that they won’t face similar changes to the platform in the same way Udemy instructors did.
Long live Lifelong Learning
Chegg announced its entry into the lifelong learning space with the launch of the Chegg Career Center. The aim is to extend the platform’s reach beyond graduation by adding a skills search and marketplace, getting users back to Chegg even when they are working professionals.
Other features of the Chegg Career Center include internship and entry-level job search as well as career advice. This leaves us with the question: who is next on Chegg’s acquisition list?
Africa is getting Hotter
Not only in terms of the climate, to borrow from last week’s ENT. Apollo Education acquired 81% in South Africa’s Milpark Education. The company was one of the first providers of higher management education in the country.
According to Apollo, this acquisition marks the entry into Africa with further expansion (and probably acquisitions) down the road. This beachhead cost Apollo Global around $25.6 million, a sizeable amount and one of the biggest acquisitions of an African-based education company yet.