Startup puts the art of note-taking on sale
Taryn Plumb, Special to the Journal
Courtesy
There’s an art and a discipline to taking notes and studying. And just like anything, some people are better at it than others.
Boston-based Flashnotes aims to improve the learning experience by allowing college students to trade in a valuable commodity: study materials.
“This is students helping students,” said Dave Petruziello, the firm’s chief operating officer, who co-founded the company with Mike Matousek in late 2010. “That’s what’s been missing in education.”
Flashnotes lets students buy and sell course notes, flash cards, chapter presentations, videos and study guides. As a result, the company claims that 65 percent of users increase their GPA, determined through a case study it performed at John Carroll University in Ohio.
The startup is now actively marketing its service in six schools, but it’s also spread virally to 200 others, according to Petruziello.
“We’re leveling the playing field for college students, allowing them to find the materials they need for class so that their results go up,” he said.
At the same time, he noted, the site is also enabling students — who are often cash-strapped and will most likely face years of loan debt — to make money. The average selling price for a set of notes is $8.50, although he said he’s seen it go as high as $200 for highly specialized content.
Sellers set their own price and are encouraged to promote their materials. (The company keeps 30 percent of sales.) Like eBay, the site also has a crowdsourcing element, fostering ranking and rating.
Northeastern University student Craig Curelop said he has made about $800 over the past year using the service. A business administration student expecting to graduate in 2015, he has created study guides and flash cards to sell to classmates in three different courses (after seeking permission from instructors).
Ultimately, the process has helped him improve his grades, too.
“Naturally, as I make these flash cards and study guides, I am studying, as well,” he said. “With Flashnotes, I am forced to be proactive, make the study guides in advance, and really make sure I have a grasp on the material by the time the exams come.”
Petruziello declined to disclose the number of users of Flashnotes. But he said the site is growing every month.
Flashnotes, which currently has 16 employees, moved from Cleveland to Boston in late 2011. The startup is backed by $1.8 million from Atlas Venture and SoftBank Capital, along with angel investors including Michael Lazerow, Paul Sethi and Paul Tedeschi.
Flashnotes is currently in the process of extending that round to receive more equity funding, Petruziello said. The company is also working on partnerships with plagiarism checker Turnitin.com and education technology company Blackboard, and is pursuing various incentives and promotions — such as concert tickets — for its most active and successful sellers.
Original story link here.
Boston-based Flashnotes aims to improve the learning experience by allowing college students to trade in a valuable commodity: study materials.
“This is students helping students,” said Dave Petruziello, the firm’s chief operating officer, who co-founded the company with Mike Matousek in late 2010. “That’s what’s been missing in education.”
Flashnotes lets students buy and sell course notes, flash cards, chapter presentations, videos and study guides. As a result, the company claims that 65 percent of users increase their GPA, determined through a case study it performed at John Carroll University in Ohio.
The startup is now actively marketing its service in six schools, but it’s also spread virally to 200 others, according to Petruziello.
“We’re leveling the playing field for college students, allowing them to find the materials they need for class so that their results go up,” he said.
At the same time, he noted, the site is also enabling students — who are often cash-strapped and will most likely face years of loan debt — to make money. The average selling price for a set of notes is $8.50, although he said he’s seen it go as high as $200 for highly specialized content.
Sellers set their own price and are encouraged to promote their materials. (The company keeps 30 percent of sales.) Like eBay, the site also has a crowdsourcing element, fostering ranking and rating.
Northeastern University student Craig Curelop said he has made about $800 over the past year using the service. A business administration student expecting to graduate in 2015, he has created study guides and flash cards to sell to classmates in three different courses (after seeking permission from instructors).
Ultimately, the process has helped him improve his grades, too.
“Naturally, as I make these flash cards and study guides, I am studying, as well,” he said. “With Flashnotes, I am forced to be proactive, make the study guides in advance, and really make sure I have a grasp on the material by the time the exams come.”
Petruziello declined to disclose the number of users of Flashnotes. But he said the site is growing every month.
Flashnotes, which currently has 16 employees, moved from Cleveland to Boston in late 2011. The startup is backed by $1.8 million from Atlas Venture and SoftBank Capital, along with angel investors including Michael Lazerow, Paul Sethi and Paul Tedeschi.
Flashnotes is currently in the process of extending that round to receive more equity funding, Petruziello said. The company is also working on partnerships with plagiarism checker Turnitin.com and education technology company Blackboard, and is pursuing various incentives and promotions — such as concert tickets — for its most active and successful sellers.
Original story link here.
No comments:
Post a Comment