2. The Team Michael Burk, Founder & CEO 7+ years experience in online learning as professor, TA, student, and producer at several universities Product Management BG: MySpace, NBC, Fox Austin Rappa, Founder & CTO Lead Dev Architect, Symantec Corporation Dr. Daniel Bernardi, Advisor Tenured Professor at Arizona State University and former Director of Film & Media Studies 10+ years experience in online education
3. Higher Ed at a Crossroads Budgets shrink while students cannot get classes they need to graduate Per-student spend down 17% Six-year graduation rate = 53% in 2009 Demand for online is up, innovation is stale 25% of all undergraduates take an online class Why don’t students have access to all of the best classes in the world?
5. Revolutionize Higher Education Open University Network Creates common standard for online classes Full degree program planning Flexible access for international students Shouldn’t the best students & professors in the world be part of the same classroom?
6. Revenue Model Revenue Sources Initial Setup Fees & Ongoing Licenses Educational Consulting Affiliate Revenue Projections show cash flow positive in approx. 8-12 months (3-4 pilot programs)
7. Where We Are &Where We’re Going ASU Film & Media Studies signed on to produce 20+ classes in 2010-11 Pitching Minimum Viable Product to universities for Winter 2010 session $25,000 - $50,000 for 5-10 fully-online classes generating ROI in 1stsemester
8. Current Needs $300,000 - $500,000 Convertible Debt Reduce time-to-market for university product Key engineering & sales hires 12-18 months operating expenses Series A fundraising in 18-24 months Fund international sales effort to drive open university enrollment Further tech development & file initial patents
11. Competition Crowded, yet fragmented online learning market High Costs & Lack of Standards Aprendi Competitive Advantages Cost-effective content creation tools; low switching cost Open University Network for scalable course distribution Effective course interface that makes standardization easy
12. Exit Strategy Educational Companies Blackboard, Pearson, Kaplan, Apollo Group (UoP) Creative Partnerships Google, Apple, Microsoft IPO Defensible niche in emerging international market Financial model shows $21 million EBITDA in Year 4
