Quizlet Concept and Main Selling Point
Quizlet [1] is a platform designed to help students advance their learning through various worthwhile tools such as study sets and flashcards. It uses artificial intelligence to help learners with the aptly named AI Learning Assistance.
The main goal of Quizlet is to aid students in understanding lessons by providing easy and accessible explanations in 64 subjects available with millions of study sets and repetitive flashcards. Every material is science-based to further enable learning.
With the help of technology such as AI and other innovations, the company is able to distribute its materials to users worldwide. According to the company, 90% of learners who consult Quizlet get higher grades. This tool can be accessed using different devices such as desktop and mobile.
An Overview of Quizlet’s History
- 2005 – Quizlet was founded by Andrew Sutherland and David Margulius.
- 2015 – The company obtained capital through a later-stage venture capital funding.
- 2018 – It underwent another funding round involving later-stage companies.
- 2020 – Acquired additional funds through a venture capital investor.
- 2021 – Quizlet acquired Slader.
Founders and Key People
- Andrew Sutherland
Andrew Sutherland is a co-founder and the Chief Technology Officer at Quizlet. He is also a Board Member of the California YIMBY.
He graduated from the Massachusetts Institute of Technology with a degree in Computer Science. He also worked with a team of researchers at MIT’s Self-Labeling Speech group on their speech recognizer back in 2009.
- David Margulius
David Margulius is a co-founder and a Board Member at Quizlet. Previously, he worked at Collectors Weekly, Churchill Club, Enterprise Insight, and Evite, just to name a few.
His educational background includes studying at Brown University for a bachelor’s degree in Computer Science, and Stanford University Graduate School of Business for a master’s degree in business administration.
- Matthew Glotzbach
Matthew Glotzbach is the Chief Executive Officer at Quizlet. Before this, he worked in various roles at YouTube, JobApp Network, Google, and Trilogy.
He is Cornell University-educated with a degree in Mechanical Engineering. His skills include Product Management and Enterprise Software. He also has experience volunteering as part of the IT Advisory Board and California Board at Room to Read.
A Look into Quizlet’s Finances and Funding
Quizlet currently has a total funding amount of $62 million, which is obtained through three funding rounds. Namely Series A, B, and C throughout different years. Its biggest funding was during the Series C round with $30 million through General Atlantic with partner Peter Munzig.
It has seven investors, four of them are lead investors namely General Atlantic, Icon Ventures, Costanoa Ventures, and Union Square Ventures. Other investors are Altos Ventures, Industry Ventures, and Owl Ventures.
Quizlet has also acquired the Math resources platform Slader on March 25, 2021. It is valued at $1 billion to $10 billion on May 14, 2020. This is a post-money valuation by PrivCo.
Major Competitors:
- Numerade – https://www.numerade.com/
- Kahoot! – https://kahoot.com/
- Pear Deck – https://www.peardeck.com/googleslides
Useful Links
References:
[1] – https://quizlet.com/
[2] – https://pitchbook.com/profiles/company/93045-34#overview
[3] – https://www.linkedin.com/in/asuth/
[4] – https://www.linkedin.com/in/davemargulius/
[5] – https://www.linkedin.com/in/mglotzbach/
[6] – https://www.crunchbase.com/organization/quizlet/company_financials
[7] – https://craft.co/quizlet
