The California-based online learning site Lynda.com raised an incredible $103 million in its first round of funding, according to the company’s press release. This money will allow the site to enhance its diverse educational offerings. One of the biggest success stories in online education, Lynda.com boasted revenues of $100 million in 2012.
The website offers its students a growing library of 83,000 videos for a fee of $25 per month. Lynda.com continually adds new videos to its library and teaches practically every technical subject in existence. One of the reasons that the website has been able to bring in so much revenue is because of its cutting-edge content. Its video courses show students how to take advantage of the latest technology. Venture capitalist Jo Anne Miller explained the company’s success: “Specialized content that has a short shelf life is of higher value than general content that has a long shelf life. When you have a technology that you have to learn right now, you’re going to pay more for it.”
Lynda Weinman, the co-founder of the website, built Lynda.com as a complement to traditional education: 44 out of the top 50 universities in the United States use the site. The purpose of the site is to make it convenient for students to learn the specific skill they want to use in their job or class. “I think putting education on the Internet democratizes it in a more efficient way,” said Weinman. The site is an inexpensive complement to traditional face-to-face schooling and offers the convenience of videos on-demand.
The funding will be used to hire new people and build more work-space for the online learning site, adding to its headquarters in Carpintaria and offices in Ventura and Calabasas. The funds will also be used to enhance course development. Erik Tarkiainen, Vice President of Marketing, said that technology course possibilities are “pretty limitless.” He said that further course development is the main reason for the investment. “That’s what this investment is really about,” he said.
[cf]tracking[/cf]
No Comment