Edtech · Investors

What led to Quizlet’s change?

Ryan Weldon Founder/CEO at Breakable

December 4th, 2015

Since 2005, Quizlet has been a profitable company, but this year they decide to raise a Series A of $12 million. What might have led them to this change? Should others in a similar space consider doing the same since they found such success by doing it?

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Rob G

December 4th, 2015

hard to say. likely growth capital.  If they want to grow quickly, using only earnings makes that a tough, long road. 

Shobhit Verma

December 4th, 2015

Because they realized that they were leaving money on the table.
The spot Clever has today could have been theirs ... but it takes VC money to scale that fast.

Derek McCombs CEO at Carbon Fitness

December 8th, 2015

Full disclosure - I do some work for Quizlet as a consultant. Andrew (Quizlet founder) talked about this in his blog post in the "Why did we finally decide to raise money?" section and the press release ("fuel growth, hire, expand the product portfolio, build out internationally"). As someone who knows the company, I can say that Quizlet couldn't be that ambitious without more capital to accelerate hiring the talent to make those product and market investments.