Master class raises$ 100 million, and it gives us a lesson in entrepreneurship

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Learning performance with Natalie Portman, actress, winner of an Oscar, or take a class on strategy and the leadership of Bob Iger, the chairman of Disney, you can’t even have a price, but it’s a platform that brings together the mentorship of these two icons is: more than$ 800 million.

This was the assessment of the master class, an education company online, and got an additional$ 100 million in the latest round of the series And of the investment.

The investment was led by Fidelity Management & Research Company, and included participation from Owl Ventures, 01 Advisors. Existing investors NEA, IVP, Atomico and NextEquity Partners, followed up on the project. Since its inception, the MasterClass has raised a total of$ 236,4-million in investments.

Was founded in 2015 by the developer, Aaron Rasmussen, and by the political scientist, David Rogier, the company was created in order to democratize access to quality education. The idea was to create a platform that is mixed with the technical quality of the series and serves a daily continental breakfast with presentations by the fast of the TED Talks.

In addition to this, the aim was to bring together well-known names across the world in their areas of expertise to pass on their knowledge. After a couple of contacts, and a lot of persistence, the master class was born in the course of the writer James Patterson, the author of The web of the Spider”and other titles awarded.

“Every class is a challenge, but those in the Field were the most difficult. For the case of the first set, we had to develop a new model, and the shape,” he says of the NeoFeedAaron Rasmussen, co-founder of the master class, it is now the focus of the Outlier.org his new focus in the area of educationread the full interview).

All of the content that is developed and filmed as a film project. And the courses are broken into chapters/classes, which may vary from about 20 to 30 minutes, whereby a booklet is included with all of them.

The episodes are full of scenes that are in the close-up view showing the detail of the hands, mouth, and eyes, all of which helps to bring together the student, the instructor, the type of still for the beauty of the movie.

It’s just that the tennis player Serena Williams has won 23 Grand Slam tournaments, and it teaches you about running shoes; and Margaret Atwood, who is the author of “The story of the Aia, it is about creative writing. The Nobel prize winning economist Paul Krugman writes about economics and politics.

Even though it has many names, events and the world of business, and the arts the a class is accessed that belongs to a course taught by Chris Voss, an entrepreneur who has worked as a negotiator in the kidnapping by the FBI. The class “a Tactic of Empathy,” it was the most watched in the history of the company.

“What makes me feel proud of the master class is precisely the fact of any person to be able to take the knowledge that he wouldn’t be available anywhere else,” says Rasmussen.

In total, there are 85 professional events, which lead to 85 courses, divided into nine, categories: business, politics, and society; music & entertainment; writing; design; fashion photography; culinary arts; film and television; and sports and games.

Students can buy a course cost for a one-time fee of$ 90 to shell out$ 180 a year in order to gain access to all of the content on the platform. By 2018, 80% of the participants opted for the subscription option. Today, 100% of the company’s revenue comes from that model.

The new contribution of US$ 100 million, which is the idea of the MasterClass is to be able to get a new lesson each week. In addition to this, the money will fund the expansion of the activities and staff of the master class, as well as the innovation of new products.

According to a report from the web site TechCrunchthe company is currently testing a version of the course, with no picture, just audio, and is working with augmented reality.

Available on all platforms, so users from anywhere in the world, the master class attracted 30% of the paying customers in four months after its launch in the year 2015. The number of subscribers is guarded.

In addition to the teachers, to celebrities, other strategies are exploited successfully by the formation of virtual communities. When you become a member of the master class, the user is able to participate in a live chat where you discuss the topics with other students,and sometimes, the “teacher”.

Even though the mentor is not to take any sort of liability in to talk to the learners in the classroom and online, it is well known that a lot of good came out of there.

The tennis star Serena Williams has come to invite one of your students to a game of tennis, as a producer of electronic dance music DeadMau5, he recorded a track with the participation of a user of the master class.

It starred the company is also an advantage for the other angles. In addition to attracting interested parties from around the world, the master class guarantees that its lessons will never be dated.

Unlike the collection of the Series, the relevance of which to the original content, it tends to fall off as time went on, the courses of the master class they have their value intact. A class on fashion design with fashion designer Marc Jacobs, it will continue to be valuable a decade from now, the same technology, and consumer habits will change drastically.

And, in speaking of these changes, the crisis of the coronavirus that has boosted the interest in online classes. The master class surf on that wave, although it does not reveal the growth in this period is unusual.

The lawrence v. texas case, however, it was NeoFeed “the pandemic has caused many people to think about long-distance learning in an unprecedented way, and with the stigma of the classes on-line are going down as a mass change to all the courses in the web.”

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