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MasterClass raised $80m to get a bigger fishing pole, as it plans to reel in even more big-name celebrity teachers this year.
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The Hustle
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Sponsored by
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<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
MasterClass raises $80m to bring more big celebs to their platform
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
MasterClass, the celebrity-taught online learning program (like how to be funny with heart like Judd Apatow, or how to dribble a ball with Steph Curry) has
<a style="color: #ed4d1f; text-decoration: none;">
raised $80m
</a>
to expand the platform internationally.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
According to VentureBeat, the Series-D round moves the SF-based startup past the $130m fundraising mark, and will also be used to bring more celebrities into the classroom.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The company currently offers 39 celebrity-taught classes, with plans to exceed 50 by the end of 2018.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
They must be backing up the money truck to these ‘experts’
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In the last year, MasterClass has added an all-star cast of administration, including a writing class with Margaret Atwood, a directing class with David Lynch, and a tennis class with Professor Serena Williams.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Yesterday, CEO and co-founder David Rogier told
<em>
TechCrunch
</em>
he hopes to one day bring on Elon Musk, Reid Hoffman, and J.K. Rowling (who will teach you how to write a
<a style="color: #ed4d1f; text-decoration: none;">
best selling book franchise
</a>
about a boy-wizard via cocktail napkins?) to the platform.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
When it was first released to the public in 2015, MasterClass seemed to promise an unlikely product (
<em>
celebrities ain't got time to make lesson plans
</em>
). Yet sales have more than doubled from 2016 to 2017, and could do the same in 2018.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
A seat at the big boy edtech table
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Without releasing hard financials, Rogier compared the company’s revenue to edtech heavyweights Udacity, who increased revenue by $41m from 2016 to 2017, and Coursera, who’s reportedly “within striking distance of $100m in annual revenue.”
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In other words, if MasterClass is being compared to these guys, they’re doing
<em>
pret-ty
</em>
,
<em>
pret-ty, pret-ty good
</em>
(Larry David would be a terrible teacher).
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Giving a ‘masterclass’ on corporate growth
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The company, who
<a style="color: #ed4d1f; text-decoration: none;">
raised $54m in VC funding
</a>
last year, recently rolled out a highly successful new subscription model, allowing customers to pay a $180 annual fee to gain all-access MasterClass wisdom, that accounts for 80% of the company’s revenue (otherwise it’s $90 each).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
On top of that, MasterClass released its first-ever mobile app this April and hopes to move beyond arts by soon adding a “business” category.
</p>
</td>
</tr>
<!-- START SHARING -->
<tr>
<td align="center" id="link" style="font-family: 'Courier New',courier,monospace; font-size: 26px; line-height: 120%; padding: 15px 0; text-align: center;">
3 words: Keanu Reeves MasterClass
</td>
</tr>
<tr>
<td>
<table style="text-align: center; width: 100%;">
<tbody>
<tr>
<td align="center" style="display: inline-block; padding: 5px 0; text-align: center;">
<a style="color: #ed4d1f; padding: 0 8px; text-decoration: none; white-space: nowrap;">
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</a>
</td>
<td align="center" style="display: inline-block; padding: 5px 0; text-align: center;">
<a style="color: #ed4d1f; padding: 0 8px; text-decoration: none; white-space: nowrap;">
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</a>
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<td align="center" style="display: inline-block; padding: 5px 0; text-align: center;">
<a style="color: #ed4d1f; padding: 0 8px; text-decoration: none; white-space: nowrap;">
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</a>
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</td>
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<!-- END SHARE ME NOW BRIEF -->
<!-- START BRIEF -->
<tr id="news1">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Sick of jacked-up pharma prices, 500 hospitals join to make their own drugs
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
A group of major American hospitals
<a style="color: #ed4d1f; text-decoration: none;">
banded
</a>
together to form a not-for-profit generic drug company called Civica Rx to reduce dependence on inconsistent drug prices.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The creation of the mission-driven enterprise, which has already secured more than $100m in preliminary funding, highlights the urgent need for reform in the drug business.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
The drug-pricing system makes hospitals sick
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Arbitrage between drugmakers, pharmacy benefit managers, and doctors leads to
<a style="color: #ed4d1f; text-decoration: none;">
price spikes
</a>
and
<a style="color: #ed4d1f; text-decoration: none;">
shortages
</a>
of common, lifesaving medicines.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Price changes force hospitals to pay premiums of as much as
<a style="color: #ed4d1f; text-decoration: none;">
50%
</a>
for common drugs, diverting lifesaving resources toward tracking drug supplies and predicting what the f*ck drugmakers will do next.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
So to create a more consistent supply, a consortium of 7 massive health systems encompassing more than 500 hospitals
<a style="color: #ed4d1f; text-decoration: none;">
formed
</a>
a “first-of-its-kind societal asset to make essential generic medicines affordable and available to everyone” with a $100m initial investment.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Taking matters into their own medicine cabinets
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Civica Rx has already attracted interest from more than 120 health organizations (⅓ of the country’s hospitals) and
<a style="color: #ed4d1f; text-decoration: none;">
tapped
</a>
Martin VanTrieste, former head of biotech giant Amgen, to serve as pro-bono CEO.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
By stripping away the pressures of shareholders and middlemen, Civica plans to produce a stable supply of
<a style="color: #ed4d1f; text-decoration: none;">
14
</a>
commonly overpriced drugs and distribute them at consistent prices to the hospitals in its network. The company hopes to bring its first drugs to the market next year.
</p>
</td>
</tr>
<!-- START LINK -->
<tr>
<td id="link" style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding: 10px 0 40px;">
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<tbody>
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»
</span>
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<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
Just what the Dr. ordered
</a>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
<!-- END LINK -->
<!-- END BRIEF -->
<!-- START BRIEF -->
<tr id="news1">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Goldman Sachs CFO cries ‘fake news’ on the firm’s plans to abandon crypto trading desk
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Goldman Sachs CFO Martin Chavez
<a style="color: #ed4d1f; text-decoration: none;">
cleared the air
</a>
after a report on Wednesday that the storied investment firm reneged on their plans to get into the crypto game.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
“I really have to describe that news as fake news,” Chavez said on stage when asked about the claims Thursday at
<em>
TechCrunch Disrupt.
</em>
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The CFO assured the audience that Goldman is still working on a type of derivative for bitcoin because “clients want it.”
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
By the fake-beard of BI...
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Bitcoin fell below $7k as the crypto market cap shed
<a style="color: #ed4d1f; text-decoration: none;">
$15B in 90 minutes
</a>
after the initial Wednesday report by
<a style="color: #ed4d1f; text-decoration: none;">
Business Insider
</a>
.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The Wall Street behemoth has been considering the launch of a cryptocurrency option for clients over the past year. But according to
<em>
CNBC,
</em>
its plan for the initiative has never been very clear.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
What Chavez
<em>
did
</em>
make clear is that while a timeline for the venture has never been established, Goldman has been approving bitcoin-linked futures contracts since May
<em>
and
</em>
providing clients liquidity with those futures.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Crypto wariness strikes again!
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
As for physical bitcoin, Chavez explained that the company is not quite in the position to get in the game — mainly due to factors out of the institution’s control.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Issues with bitcoin’s volatility, security, and asset storage have all been regulatory moats for institutional investors, especially as bitcoin continues to struggle to reach its near-$20k high back in December.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The value of the entire crypto market has since dropped by more than 65%: As of Thursday, Bitcoin was trading at $6.4k “Satoshi tears.”
</p>
</td>
</tr>
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<tr>
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»
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<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
Anyone keepin’ up on Dogecoin?
</a>
</td>
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</td>
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<!-- END BRIEF -->
<!-- START BRIEF -->
<tr id="news1">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Quick news Hit Clips:
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In the spirit of everyone’s favorite ’90s MP3 player, here are some short, low-fi news bites to keep you in the groove.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Scooter wars: Lyft and Taxify join the fray
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
After taking a regulatory rest, the scooter wars resumed yesterday with 2 new contenders. Lyft
<a style="color: #ed4d1f; text-decoration: none;">
launched
</a>
a pilot in Denver, rolling out a small number of scooters and promising to play nice with officials. Meanwhile, Estonian ride-sharing rival Taxify
<a style="color: #ed4d1f; text-decoration: none;">
debuted
</a>
a scooter-share in Paris.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Luxury retailers cooling off: Burberry is not feeling the burn
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Retailers have begun to take heat for
<a style="color: #ed4d1f; text-decoration: none;">
destroying luxury leftovers
</a>
. After the amount of stock torched by British fashion brand Burberry increased from $6.5m in 2013 to $39m this year, the brand decided to stop the practice of burning excess inventory.
<em>
Should we clap?
</em>
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Home fitness gets smart (and pricy): ‘Mirror’ hits the market
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Yesterday, a startup called Mirror launched a product that streams fitness courses right into your bedroom via “smart mirror.”
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
With a $1,495 price tag, Mirror joins other fitness-tech startups (the $2k
<a style="color: #ed4d1f; text-decoration: none;">
Peloton
</a>
, the $2,995
<a style="color: #ed4d1f; text-decoration: none;">
Tonal
</a>
) on a quest to charge high-earning fitness buffs big bucks in their own home.
</p>
</td>
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Does it do the push-ups for me?
</a>
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<tr>
<td>
<table style="border-spacing: 0px;">
<tr>
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SPONSORED
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<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
quip electric toothbrush reviews: A love story
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
With a 4.89/5 star rating from 3563 brushers,
<a style="color: #ed4d1f; text-decoration: none;">
quip
</a>
is wooing mouths by the thousands, and the reviews tell all:
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
<em>
“The design on this is beautiful and easy. LOVE the fact that you get replacements, with everything you need, without even thinking about it. Life changed.”
</em>
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
<em>
“It sounds silly to say but I really like the feel of the quip in my hand. It is so comfortable and lightweight.”
</em>
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
<em>
“Absolutely obsessed with this toothbrush. I've been raving about it to my friends and family!! Super affordable, super effective, super slick design.”
</em>
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
How did
</strong>
<a style="color: #ed4d1f; text-decoration: none;">
<strong>
quip
</strong>
</a>
<strong>
become a mandible casanova?
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
It all starts with design. The creators of the quip electric toothbrush reimagined our dental routine from the ground up -- as in, they created
<a style="color: #ed4d1f; text-decoration: none;">
an electric toothbrush
</a>
that makes you healthier
<em>
by design,
</em>
people
<em>
.
</em>
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Soft bristles, two-minute timer with quadrant timers to remind you when to switch sides, a sleek hygienic mount that doubles as a travel case, and a Steve Jobs-approved aluminum handle.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Call it the MacBook Pro of toothbrushes, but for a smile-worthy price: quip starts at $25, with $5 brush head refills delivered every 3 months.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Fall in love with
<a style="color: #ed4d1f; text-decoration: none;">
quip’s starter pack
</a>
: One electric toothbrush, a versatile travel case that’s also a mirror mount, and optional toothpaste.
</p>
</td>
</tr>
<tr id="cta">
<td align="center" style="padding: 20px 0 40px; text-align: center; width: 100%;">
<a style="background: #ffffff; border: 2px solid #000000; border-radius: 3px; color: #000000; font-family: 'Courier New',courier,monospace; font-weight: bold; letter-spacing: -0.5px; padding: 10px 15px; text-decoration: none;">
A mouth’s best friend →
</a>
</td>
</tr>
<tr>
<td style="padding-bottom: 60px;">
</td>
</tr>
<!-- END NATIVE -->
<!-- START SHOWER THOUGHTS -->
<tr>
<td align="left" bgcolor="#000000" style="background: #000000; color: #ffffff; font-family: 'Courier',monospace; font-size: 16px; font-weight: bold; letter-spacing: 1px; padding: 8px 10px; text-align: left; width: 100%;">
shower thoughts
</td>
</tr>
<tr id="shower">
<td bgcolor="#ffffff" style="padding-bottom: 50px; padding-top: 10px;" valign="top">
<ol style="font-size: 16px;">
<li style="line-height: 120%; padding: 4px 0;">
Your accent is your mouth’s font.
</li>
<li style="line-height: 120%; padding: 4px 0;">
A waffle is what you'd get if an architect designed a pancake.
</li>
<li style="line-height: 120%; padding: 4px 0;">
The fact that Labor Day isn’t on 9-5 is a big mistake that somebody made.
</li>
<li style="line-height: 120%; padding: 4px 0;">
We go to other people’s jobs on our days off.
</li>
<li style="line-height: 120%; padding: 4px 0;">
You don't realize how much muscle memory you have until you rearrange the apps on your phone.
</li>
<li style="font-style: italic; line-height: 120%; list-style: none; padding: 4px 0;">
via
<a style="color: #ed4d1f; text-decoration: none;">
Reddit
</a>
</li>
</ol>
</td>
</tr>
<!-- END SHOWER THOUGHTS -->
<!-- START SONG -->
<tr>
<td style="padding-bottom: 20px;">
<table>
<tr>
<td rowspan="3" style="vertical-align: middle;" valign="middle">
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</td>
<td rowspan="3" style="font-family: 'Courier New',courier,monospace; font-size: 14px; font-weight: bold; line-height: 120%; padding-left: 10px; padding-right: 10px; padding-top: 3px; vertical-align: middle; width: 64px;" valign="middle">
Now Playing:
</td>
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<tr>
<td>
<a style="color: #ed4d1f; text-decoration: none;">
<strong>
New Beat, Toro Y Moi
</strong>
</a>
. Electro-funk straight outta Oakland is a oui for moi.
</td>
</tr>
</table>
</td>
</tr>
<!-- END SONG -->
<tr>
<td>
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REFERRALS
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Zack Crockett
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Wes Schlagenhauf
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NEWS WRITER
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Conor Grant
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NEWS WRITER
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Kolby Hatch
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AD WRITER
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Lindsey “Requesting a Buckethead MasterClass” Quinn
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MANAGING EDITOR
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Bud Uronner
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Appeals Specialist
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JOBS
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EVENTS
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SHOP
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7 years ago - news@thehustle.co
MasterClass raised $80m to get a bigger fishing pole, as it plans to reel in even more big-name c...