Revolution Prep

The Tutor Wars

Beginning in 2012, Revolution Prep co-founders Ramit Varma and Jake Neuberg staked the future of their tutoring business on a significant gamble: transitioning their business to an online model. In the short term, this daring decision incurred losses in revenue, staff, and stability. However, in the long run, it enabled Varma and Neuberg to compete in the 'Prep Wars' against more established tutoring firms such as Kaplan and The Princeton Review. Ultimately, the founders savored personal triumph when they sold their company during the COVID pandemic.

Keywords:
  • Education
  • EdTech
  • Online Tutoring
  • Kaplan
  • Princeton Review
Industry:
  • Education
  • Tutoring
Subject:
  • Entrepreneurship
  • Strategy
  • Finance

Learning Objectives

At the end of this experience, your students will be able to grasp, evaluate and articulate… 

  1. the founders’ entrepreneurial journey through the lens of the POCD framework
  2. the complexities of term sheets and investment offers, specifically the concept of participating preferred deals
  3. the pros and cons of a pivot strategy. 


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