Can anyone make money selling ed tech? One company thinks so and could be valued at over $1 billion dollars.
It all starts with the ABC’s with the mega kids app called ABCmouse.
The holy grail for jobs at app companies or other tech jobs or media jobs isn’t to land a job at Google, or Microsoft, or Apple. It’s landing a job at the next Google or Microsoft or Apple before they get there. To find that company, you want to look at any nexus between a current or coming societal change and technological advances. One of the markets where this is currently happening is educational technology.
The Ed Tech Opportunity
Ed tech is fast approaching a $10 billion market, and educational reform is a huge issue in our culture, so opportunities should be abundant. But while there have been some great products and ideas developed, the next mega-company hasn’t yet emerged. At least not in the public eye.
Enter ABCmouse, a learning app for children between ages 2 and 7 (currently, 2–8 soon) made by educational start up The Age of Learning, based in Glendale, CA. As far as educational start ups or ed tech go, you could say they’re starting to get grey. The company was founded in 2007 by Doug Dohring and spent four years developing before they launched their first product for parents in 2010 and for teachers in 2011, unlike the prevailing trend in tech of moving as fast and far as possible quickly.
Another trend that ed tech company Age of Learning bucks is expansion. Several years ago they had disparate products here and there, but they decided to consolidate them, and their future plans, into a single flagship product which became ABCmouse. The company has said that ABCmouse will be their singular focus going forward. They’ve found what they do really well and focused there. The app has consistently been listed near the top in the most downloaded and highest grossing categories and is currently available in only the US and (very recently) China. That will likely change soon, however.
Age of Learning Secures New Funding
After a previous fundraising round in 2011 and 2012 of $30 million, Age of Learning just secured $150 million in new funding at a $1 billion valuation from Iconic Capitol. That puts it squarely at the top of its space, and there is plenty of room for growth both in the range of the product and in its geographical reach. Not surprisingly, there are also plenty of job openings at the company right now, from app developers to book editors to customer service reps.
ABCmouse is a subscription service that provides unlimited access to more than 7,000 activities for $7.95 per month and allows three child profiles. Schools, Head Start centers, community centers, and libraries have free access. The company has over $100 million in annual revenues and is profitable, and the room for expansion is pretty massive. First, expanding to k‑12, then expanding in the rest of the world.
For anyone looking for jobs in media, tech, education, or a mix of these, this seems to be a ripe opportunity that doesn’t always come along. If you are interested in a job with Age of Learning, you must apply from a desktop or laptop online here.