I’m excited to be back in the office after my parental leave. I’m also appreciative of the time I was able to spend with my wife, bonding with our baby girl. I know everyone is heads down on impactful work, but I wanted to take a moment to reflect, and say thank you for your continued effort in support of our vision—a world where every student graduates, confident and prepared.
I feel grateful, proud, and fortunate for what we have accomplished at Course Hero so far. And I feel more energized than ever by our opportunity in 2020 and this next decade.
Fourteen years ago, I was an anxious college student trying to figure out a better way to study and learn. I never imagined all of the impact we could have for students who are living truly heroic journeys—learners who are also raising children, community college students balancing two or three jobs, first-generation college students, and veterans or single moms working to complete degrees.
We exist to help as many of those students as possible to study, learn, and graduate, confident and prepared. This is our purpose. In front of us, we have a massive opportunity and responsibility to improve and expand the Course Hero platform and community for students and educators. We will listen, seek to understand, and help as many of them as we can.
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We’ve accomplished great things:
- We’ve grown our library to more than 40,000,000 study resources that reliably help students get unstuck, practice, and deeply understand what they’re learning.
- Our question-and-answer platform enables students to get help from tutors 24 hours a day, with nearly real-time responses, explanations, and support
- Informed by data about where students get stuck and need the most help, we’re investing big in Course Hero original content to support popular textbooks and literature titles.
Educators and tutors have become a pivotal part of the Course Hero community, and we’re committed to deepening those relationships:
- Our community of more than 30,000 verified college educators continues to grow, as we help them find and create teaching and assessment materials, bring them recognition from and connection with colleagues, and explore new marketplace opportunities for the resources they share on Course Hero.
- Course Hero’s Third Annual Education Summit last July drew hundreds of educators. This unique event promotes the exchange of ideas on best teaching practices, breakthrough techniques, and new academic directions.
Our relentless focus on serving students and educators has enabled business outcomes that are to be celebrated:
- We’ve had 10 years of consistently high growth, with solid profitability for the last 8 years.
- 200 million learners visited Course Hero in 2019. For the first time ever, over 1 million students subscribed to Course Hero in a 12-month period, and we exceeded $100 million in revenue in 2019.
- Over 40,000,000 resources have been shared by students and educators to date, with the amount of content on the platform growing 60% in 2019 alone.
Finally, our sustained success put us in a position to raise additional capital and further accelerate our growth. The investment from New View Capital not only added to our company resources but allowed us to successfully complete an employee tender offer, enabling company employees to personally participate in our financial success for the first time. Our Series B valuation of $1.1 billion speaks to the confidence and scale we should feel in our purpose.
Our future success depends on our people, who have driven our decisions and success to date. And we start from a place of strength.
- We share a vision to help every student graduate, confident and prepared.
- We share values that lead to positive impact, and we commit to persistent, optimistic problem-solving.
- We cherish a culture of inclusion and belonging, where we truly accomplish more together.
We continue to grow and add driven, talented, high-impact people across our company, who share our passion for learning. As we grow, we commit to staying true to the vision and values that got us here.
Thank you for dedicating your time and your passion to build Course Hero. Here’s to the milestones we’ve achieved so far, and to the many more ahead.