Thought Leaders in Online Education: Katya Andresen, CEO of Cricket Media (Part 3)

Sramana Mitra: I’m very interested in the business model. That’s one of the issues that we’re seeing in the Edtech industry. The business models are weak.

Katya Andresen: I agree with you. It can be really hard to monetize a social network. That is not our model. Our model is that we have consumers – parents, grandparents, uncles, and aunts. They want to pay for their kids to have access to content and to be able to safely connect around that. That’s a proven revenue stream for us. The other side of our model’s emphasis is not that we have this relationship with Smithsonian. It’s just a nice thing that allows us to develop things and offer them for free in some cases. >>>

Thought Leaders in Online Education: Katya Andresen, CEO of Cricket Media (Part 2)

Sramana Mitra: I’d like to double-click down on some of these use cases and examples. Why don’t we pick three or four different scenarios, which are really interesting ways in which your customers and users are using the products.

Katya Andresen: I’ll give you a couple of relevant examples. We have a product coming out in about a week or two, which we did in partnership with a startup in Palo Alto called Kindoma. It’s an app that accesses your family graph. Again, it’s this idea of great digital content to read and share, and at the same time allowing family members to interact around that content with the child safely online. This is the one I referenced before. It’s called Story Bug and it allows me, in real time with video, to read a book together. >>>

Thought Leaders in Online Education: Katya Andresen, CEO of Cricket Media (Part 1)

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It almost always is the case that Edtech companies don’t have solid monetization models. Cricket media is experimenting with models that are worth understanding. This interview also further elaborates on the issues raised in one of my articles, Are We In A Golden Age of Edtech?

Sramana Mitra: Let’s introduce our audience to Cricket Media. Tell us what you do and what trends you are aligning with.

Katya Andresen: We’re a children’s education media company. We provide award-winning content for learning on a safe and secure learning network. >>>

Building to $10 Million in EdTech: Panopto CTO Eric Burns (Part 7)

Sramana Mitra: That’s not necessarily the only kind of companies that VCs back. VCs also back enterprise software that delivers that kind of growth. In fact, I would say the IT industry’s bread and butter success have been from enterprise software – not from consumer software.

Eric Burns: I guess the thing that may have stood out to some of these VCs is that our renewal rate was extremely high at 93%. When you have a SaaS business and you’re getting that revenue again every year and you devote the new spillover to new customer acquisition, you have a nice virtuous cycle.

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Building to $10 Million in EdTech: Panopto CTO Eric Burns (Part 6)

Sramana Mitra: In terms of other vendors that you compete with, whom do you see in deals?

Eric Burns: Initially, we were quite afraid of what seemed like the incumbent player in the lecture capture market in the higher education, which is a company called Tegrity. I think it’s safe to say that we badly disrupted their market. We came in with what we believed as a superior technology, a better workflow and data model, and particularly support organization. We went after their core business, which was software-based lecture capture using web cams and cameras. Over the first couple of years, it was very much trench warfare, trying to win deals, and flying places for presentations. >>>

Building to $10 Million in EdTech: Panopto CTO Eric Burns (Part 5)

Sramana Mitra: So roughly speaking, it is end of 2007. How much venture capital did you raise at that point and how long did it take you to get the first product out of the door?

Eric Burns: We had an extreme advantage here, which is that we have the opportunity to research that market to understand what classroom capture required under the CMU umbrella for several years.

Sramana Mitra: You did all the research and validation work before the company was founded. It was all happening on a different clock – not on the venture clock.

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Building to $10 Million in EdTech: Panopto CTO Eric Burns (Part 4)

Sramana Mitra: Are you assuming that there are three parallel streams being picked up? Where is the mixing happening? If you say there’s no post-production, is the technology determining how to do the mixing or which stream to use in the edited version or are you showing all three screens in different windows?

Eric Burns: It’s a bit of both. One of the things that we tried to do is infer as much as we can about the content that should be shown based on the instructor’s behavior. For example, if you’re presenting PowerPoint and you begin capturing your screen, we’re going to automatically switch and show you the screen even if the slide is still up. >>>

Building to $10 Million in EdTech: Panopto CTO Eric Burns (Part 3)

Sramana Mitra: They basically asked you to become the CEO of this entity that was already funded?

Eric Burns: I actually became the Chief Technology Officer because my competencies at that time were that of an engineer. I’m now the Chief Product Officer and I’ve done a lot of the CEO duties. We have this unorthodox operating structure that ended up working very well for us. >>>