Teachable raises $4M to create a tool to turn any online class into a true businesstechnicalstudio | April 15, 2018 | 0 | Tech News
Online coursework is exploding across all kinds of verticals and fields of expertise — but those courses inevitably end up on platforms like Udemy, and for Ankur Nagpal, that’s really not a way to build a true business.
That’s why Nagpal started Teachable, a platform for experts that want to create a business around their coursework that helps them build an entire online education suite beyond just platforms like Coursera or Udemy. Niche expertise can be way too valuable for just a simple marketplace like Coursera, Nagpal says, and experts in those areas — even seminars on mindfulness orFeng Shui — should be able to make more than just a few thousand dollars a year off that coursework. Nagpal said the company has raised an additional $4 million in equity from existing investors Accomplice Ventures and AngelList co-founder Naval Ravikant.
“In the past, if you wanted to teach courses, you could either put it in the marketplace or have it on your own website — with your brand and domain name and full control of everything — but there’s no easy way to do it,” Nagpal said. “It’s the difference between listing a physical good on Amazon and having your own storefront. While you could make a few thousand dollars on Udemy, you couldn’t build a sustainable business selling courses for $10 to $15.”
That fundraise, however, comes with a whopping $134 million valuation in the end as the company expects to be profitable by the end of Q4 this year. Teachable has around 10 million students across 125,000 courses, with 12,000 paying customers on the platform. Nagpal says it is aiming for a business that will generate more than $200 million in sales this year, which might not be so far off given the speed at which it hasramped up from just $5 million in 2015 to around $90 million in 2017.
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