About
Grockit is a social learning company that makes products that help people learn from other people. Grockit was founded to advance online social learning as the dominant instructional design for all human learning. Learnist, Grockit’s groundbreaking social learning platform, encourages users to “share what they know and learn what they don’t” in an online, rich media format.
Thesis
Consistent with management’s original vision, Grockit has leveraged its experience in the online test prep business to become a leader in the social learning space. We believe that Grockit is well-positioned to make Learnist the leading social learning platform by reaching millions of users on a global basis.
People
Roy Gilbert joined as CEO in October 2010 after running Google India from 2004-2008. Farbood Nivi is a founder and was formerly with Kaplan and Princeton Review, where he was Master Teacher of the Year. Board members include Jeff Fagnan from Atlas Ventures, Mitch Lasky from Benchmark, and John Powell from Integral Capital Partners.
Management Team
- Russell Greiff, VP of Business Development
- Previously at Sylvan, Educate, and IAC; launched AmeriCorps
- Chris Bennett, Game Designer
- Formerly at Playdom/Disney, Electronic Arts, Digital Chocolate
- Aaron Burcell, VP of Marketing
- Previously at Outspark, Stata Labs (YHOO), WebTV (MSFT)
Product
Learnist was launched in May 2012 to encourage people to learn from and teach each other about a wide range of academic and casual learning topics. Users can curate digital and online resources into a media-rich board, called a Learn Board, to share their expert knowledge. Users of Learnist can then respond to posted information by either “favoriting” the board or responding with comments. Learnist is an Internet-based service, and Learnist apps are available for iPad and iPhone.
Potential
The education market is a very large market and is growing at a significantly faster rate than the overall economy. In 2012 the global education market was estimated at $4.5 trillion and is expected to grow 7% annually to $6.4 trillion in 2017 (Source: Candlestick Advisors). The Learnist platform is broadly applicable to the three largest segments of the education market, including K-12, post-secondary and lifelong learning. Accordingly, Learnist’s platform has the potential to attract millions of users on a global basis. Underscoring this point, Discovery Communications, the world's number one nonfiction media company, is a strategic investor in Grockit.
Megatrends
- Knowledge
- Network Effects
- Globalization
- Internet
How Big Can This Be?
Given its focus on a wide range of academic and casual learning topics, Learnist can reach millions of students and lifelong learners globally, essentially disrupting the traditional class and textbook learning model with a convenient, low cost, rich media, Internet-based solution.
Predictability
If Learnist is able to attract a significant and loyal user base, it will have the opportunity to develop a business model with a high degree of predictability. The Company’s business model will consist of subscription, advertising and ecommerce-related revenue streams.
Risks
The primary risks associated with the development of Learnist’s business are the rate of adoption of its social learning platform as the dominant instructional platform for a wide range of academic and casual learning topics, the development of a robust business model involving subscription, advertising and ecommerce revenue streams, and a competitive landscape that includes large, well-funded social media companies and many startups similarly offering online learning platforms and solutions.
