Teachable is a start up formally known as Fedora is an education tech company that has raised $4 million during the first round series funding this is according to its CEO and founder Ankur Nagpal. The company main aim is to offer a platform that similar to a Shopify or Squarespace to be used by the teachers as well as tutors. The platforms let the tutors with expertise on a particular subject matter to quickly make an online course and auction them or offer for free to their students, the experts sets their own pricing, make a decision on how their content should be accessed and owning all their customer’s data.
The tutors of any particular field can use Teachable for free, however, they give the start up a $1 and 10% commission on each sale they make. Teachable does not charge the tutors for offering a course on their platform. The firm also provides another alternative of accessing their platform, the tutors can choose to subscribe to various monthly plans ranging from $39 to $299 with low commissions or none at all.
Most of the courses that are offered on the Teachable platform are not for the college credit. Many are entails non-academic fields such as how to decorate a cake, how to fly a drone. While some are courses involving the professional frameworks or how to manage a martial arts schools amongst others. Large companies do offer their employee learning and development programs through the Teachable platform.
People who brand themselves as long life learners may not even be aware that they are using the Teachable platform after they sign up for a course to follow a person who inspires them. On the other hand, Teachable competitors that include Udemy, Edx or even Coursera provide students with as online course catalog that they can peruse prior to committing to purchase. This format means that the tutors are competing against each other for the attention and money of the student.
With the funding made possible, the company aims at using the money to do more of what it has been doing that is hiring acquiring users at a low cost, while at the same time providing support to its customers and the all its users. However, the company CEO recognizes that they have some features that they need to work on for example integrating Teachable to other platforms.