PrepMe
Encyclopedia
PrepMe is a for-profit American
company that offers online courses and tutoring for standardized achievement tests, in particular those offered by the Educational Testing Service
(ETS), such as the PSAT and SAT
, and also the ACT
offered by ACT, Inc. PrepMe also developed its Coursification™ platform to open its adaptive online learning platform to publishers.
The company was founded in 2001 by Avichal Garg and Karan Goel, Stanford and University of Chicago
students respectively. It is based in Chicago
with a software engineering team in Palo Alto, California
. One of the company's co-founders, Avichal Garg, a former Google product manager, raised investment capital from other former Google employees to fund PrepMe. The company was incubated at the University of Chicago Booth School of Business
' Polsky Center for Entrepreneurship after it won the university's 2005 New Venture Challenge.
The company is a 2008 winner of the Chicago Innovation Awards
and was featured on the front cover of Fortune Small Business
.
.
On February 1, 2007, Maine governor John Baldacci
announced that for three years PrepMe planned to let every junior in Maine use its online SAT preparation program without cost to themselves, their school, or the state. Office of the Governor Release.
Over 100,000 students have used the company's programs.
and Archipelago Learning
.
The acquisition gives Ascend ownership of PrepMe's Coursification™ platform, a software service launched in March 2011 that enables customized online-learning courses. PrepMe continues to provide college readiness and preparation services under license from Ascend.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
company that offers online courses and tutoring for standardized achievement tests, in particular those offered by the Educational Testing Service
Educational Testing Service
Educational Testing Service , founded in 1947, is the world's largest private nonprofit educational testing and assessment organization...
(ETS), such as the PSAT and SAT
SAT
The SAT Reasoning Test is a standardized test for college admissions in the United States. The SAT is owned, published, and developed by the College Board, a nonprofit organization in the United States. It was formerly developed, published, and scored by the Educational Testing Service which still...
, and also the ACT
ACT (examination)
The ACT is a standardized test for high school achievement and college admissions in the United States produced by ACT, Inc. It was first administered in November 1959 by Everett Franklin Lindquist as a competitor to the College Board's Scholastic Aptitude Test, now the SAT Reasoning Test...
offered by ACT, Inc. PrepMe also developed its Coursification™ platform to open its adaptive online learning platform to publishers.
The company was founded in 2001 by Avichal Garg and Karan Goel, Stanford and University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
students respectively. It is based in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
with a software engineering team in Palo Alto, California
Palo Alto, California
Palo Alto is a California charter city located in the northwest corner of Santa Clara County, in the San Francisco Bay Area of California, United States. The city shares its borders with East Palo Alto, Mountain View, Los Altos, Los Altos Hills, Stanford, Portola Valley, and Menlo Park. It is...
. One of the company's co-founders, Avichal Garg, a former Google product manager, raised investment capital from other former Google employees to fund PrepMe. The company was incubated at the University of Chicago Booth School of Business
Booth School of Business
The University of Chicago Booth School of Business is a graduate business school located in Chicago, Illinois, at the University of Chicago. Formerly known as the University of Chicago Graduate School of Business, Chicago Booth is the second oldest business school in the U.S., the first such school...
' Polsky Center for Entrepreneurship after it won the university's 2005 New Venture Challenge.
The company is a 2008 winner of the Chicago Innovation Awards
Chicago Innovation Awards
The Chicago Innovation Awards was created by the Chicago Sun-Times and Kuczmarski & Associates in 2002. Each year the Awards recognize 10 Chicago area businesses, nonprofits, and government organizations that develop the year’s most innovative new products and services.-2010:The 2010 Chicago...
and was featured on the front cover of Fortune Small Business
Fortune Small Business
Fortune Small Business ' was a magazine published ten times each year. The publication was a joint venture by The Fortune Group at Time Inc. and American Express Small Business Services...
.
Description
PrepMe uses adaptive learning technology to provide students with a customized test preparation course specifically targeting individual strengths and weaknesses. Students are also provided with one-on-one online tutoring and essay coaching from current students at Stanford and the University of ChicagoUniversity of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
.
On February 1, 2007, Maine governor John Baldacci
John Baldacci
John Elias Baldacci is an American politician who served as the 73rd Governor of the U.S. state of Maine from 2003 until 2011. A Democrat, he also served as a member of the United States House of Representatives from 1995 to 2003....
announced that for three years PrepMe planned to let every junior in Maine use its online SAT preparation program without cost to themselves, their school, or the state. Office of the Governor Release.
Over 100,000 students have used the company's programs.
Acquisition
In July 2011, PrepMe's platform was acquired by Ascend Learning backed by Providence Equity Capital, which also owns Blackboard Inc.Blackboard Inc.
Blackboard Inc. is an enterprise software company with its corporate headquarters in Washington, D.C. and is primarily known as a developer of education software, in particular learning management systems. Blackboard was founded by CEO Michael Chasen and chairman Matthew Pittinsky in 1997 and...
and Archipelago Learning
Archipelago Learning
Archipelago Learning is an American subscription-based, software-as-a-service provider of education studies used by over 14 million students in nearly 38,700 schools throughout the United States, Canada, and the United Kingdom. Their comprehensive digital supplemental product suite uses technology...
.
The acquisition gives Ascend ownership of PrepMe's Coursification™ platform, a software service launched in March 2011 that enables customized online-learning courses. PrepMe continues to provide college readiness and preparation services under license from Ascend.
Media coverage
PrepMe has garnered significant press coverage for its approach and the founding team. This includes:- 3 startups to watch on CNNCNNCable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
(November 2005) - A startup that puts teenagers to the test in The Business Life of The Financial TimesFinancial TimesThe Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
for the launch of the first ever SAT preparation program geared at 6th, 7th, and 8th graders (October 2006) - Best Entrepreneurs under 25 recognition for all three co-founders from Business Week Magazine (October 2006)
- Company offers free online SAT preparation to Maine juniors in Boston GlobeThe Boston GlobeThe Boston Globe is an American daily newspaper based in Boston, Massachusetts. The Boston Globe has been owned by The New York Times Company since 1993...
(February 2007) - Start-Ups Change How Students Study for Tests in TechCrunchTechCrunchTechCrunch is a web publication that offers technology news and analysis, as well as profiling of startup companies, products, and websites. It was founded by Michael Arrington in 2005, and was first published on June 11, 2005....
(September 2007) - Anywhere Test Prep in PC MagazinePC MagazinePC Magazine is a computer magazine published by Ziff Davis Publishing Holdings Inc. A print edition was published from 1982 to January 2009...
(October 2007) - PrepMe Aces the College Tests in Business Week Magazine (October 2008)
- For Former Google Employees, Start-Ups Are a Family Affair in The New York TimesThe New York TimesThe New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
(November 2008) - Stephen's Sound Advice, How to Ace the SATs on The Colbert Report (May 2010)
- PrepMe's Coursification Offers a Personalized Online Learning Platform in TechCrunchTechCrunchTechCrunch is a web publication that offers technology news and analysis, as well as profiling of startup companies, products, and websites. It was founded by Michael Arrington in 2005, and was first published on June 11, 2005....
(March 2011) - Innovation Incubator Program from SIIA (May 2011)
- Blackboard Buyer Providence Equity Acquires Personalized Online Learning Platform From PrepMe in TechCrunchTechCrunchTechCrunch is a web publication that offers technology news and analysis, as well as profiling of startup companies, products, and websites. It was founded by Michael Arrington in 2005, and was first published on June 11, 2005....
(July 2011)