Student Entrepreneur to $10M+ Business: Blaine Vess, CEO of StudyMode (Part 3)

Sramana Mitra: Was Chris working full time or did he take up another job?

Blaine Vess: Chris was working full time on this business. He was also doing the contract programming with me.

Sramana Mitra: You guys were doing contract programming. You had a job and Chris was doing the business?

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Student Entrepreneur to $10M+ Business: Blaine Vess, CEO of StudyMode (Part 2)

Sramana Mitra: What was the motivation? If I am a student, why would I want to load up my course notes?

Blaine Vess: The main motivation is to get access to other people’s course notes or research. Say you’re writing a research paper on global warming and you have a writer’s block or you’re three pages in to a five-page research paper, you could get ideas from other people and see how they approach the topic.

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Student Entrepreneur to $10M+ Business: Blaine Vess, CEO of StudyMode (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

We’re seeing a wonderful trend of student entrepreneurs building substantial businesses without dropping out. Blaine Vess is yet another great role model. This story outlines Blaine’s entrepreneurial journey.

Sramana Mitra: Blaine, let’s start with introducing our audience to you. Where did you grow up? Where were you born? What kind of back story leads up to StudyMode?

Blaine Vess: I’m Blaine Vess, the CEO of StudyMode. I grew up in the suburbs of Chicago, which is where I co-founded StudyMode with my friend Chris Nelson. At that time, we were going to North Central College. From there, I ended up moving to Northern California and graduating from San Jose State University with a degree in Marketing. I originally focused on Computer Science and learned that I could program, but it wasn’t my specialty. So I switched over to Marketing and ended up moving to Los Angeles.

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1Mby1M Incubation Radar 2014: Easyskillz, New Delhi

Easyskillz.com provides online training for professional skills like Android app development, HTML5, web development, Excel, SAP, project management, Six Sigma, and digital marketing. Training is delivered through pre-recorded videos of industry experts and on successful completion of the course, students receive certification from Indian Government skill certification agencies.

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Building a $10M Company Proctoring Exams Online: Don Kassner, CEO of ProctorU (Part 7)

Don Kassner: It remains to be seen if it’s going to break out the way that it used to break out. For us, we’ve been very happy with the success that we’ve had in growing this from nothing to a $10 million a year company. You were talking about getting entrepreneurs to that first million which is a real demarcation for success. We’ve passed that. Now, where do we go from here? Are we going to be a $100 million company or a $1 billion company? I have no way of knowing yet, but right now, the company’s growing. The market seems to be growing.

Sramana Mitra: You’re growing at a decent pace. It’s not like you’re growing anemically.

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Building a $10M Company Proctoring Exams Online: Don Kassner, CEO of ProctorU (Part 6)

Don Kassner: If you think about proctoring itself, integrity is critical. It’s a service. We’re providing service to both the student and to the institution. It’s important that it’s simple because they’re remote. They’re on their own device. People need to be able to understand the process. There’s the people side of it and that’s why fun is so critical. We’ve that face-to-face connection with the student in a situation where they’re in high stress. We want to make sure that we bring in an element of relaxation to it. Those four pillars were critical for our business. We have, since day one, made sure that we follow those. The key element in executing is your ability to really find that base of what your company is going to be and be very consistent in building off that base.

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Building a $10M Company Proctoring Exams Online: Don Kassner, CEO of ProctorU (Part 5)

Sramana Mitra: The large state universities are adopting this?

Don Kassner: Yes, it’s typically large state universities. There’re some private universities in there as well. Generally speaking, you’re going to see most of it in the lower level, general administration courses where examinations and assessments are more critical. As you get in deep to any program, the project starts to change. Generally speaking, the focus is going to be on courses that rely heavily on assessments. That’s all over the board. We have Liberal Arts, Math, Science, Healthcare, and many different disciplines.

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Building a $10M Company Proctoring Exams Online: Don Kassner, CEO of ProctorU (Part 4)

Sramana Mitra: So the shareholders of Andrew Jackson came in as separate investors into the new entity, ProctorU?

Don Kassner: That is correct.

Sramana Mitra: So that’s how ProctorU was funded?

Don Kassner: Yes.

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