Whether you’re a student, a teacher, or just someone who enjoys creating flashcards, Quizlet is an app that has helped countless people learn new things. But how does it actually make money? Well, the company behind Quizlet is called Brainly Inc., and they’ve developed a series of products that help businesses and individuals alike get better results out of their online marketing efforts.
One of these tools is called Quizlet Pro, which lets you take your quiz creation skills to the next level. You’ll get unlimited storage space so you can build massive collections of quizzes without worrying about running out of room. And if you ever run into any problems, you can contact customer support through the app itself. So whether you’re trying to improve your grades, learn something new, or simply impress friends and family, Quizlet Pro is definitely worth checking out!
Quizlet is an educational tool that lets people study and master core subjects. It’s available in 15+ languages and is used by millions of students worldwide.
If you’re interested in Quizlet’s revenues, how they make money, and its business model, then this post is for you! In this post, we’ve gone through in-depth how Quizlet earns money and its business model in detail.
You like to read: Low Investment Business Ideas In Bangladesh
What is Quizlet?
Quizlet is an online education software platform that helps people study and manage their courses from anywhere in the world.
For language learners, Quizlet offers an easy way to learn vocabulary and grammar by creating flashcards and accessing community-created content.
It has some unique features including interactive quizzes, games, and AI-powered learning tools.
Value Proposition
“Everybody learns differently.”
Quizlet helps people learn by collaborating and sharing information using different multimodality strategies such as flashcards and diagramming tools. It helps them use specific categories of learning resources such as practice sets, definitions, vocabularies, and quizzes.
Essentially, the platform aims to provide a personalized study experience that makes students happy.
Over 400 million study sets were created by students, 1 billion study sessions by teachers, and over 50 million active monthly learners use Quizlet to learn new vocabulary words.
How Andrew Sutherland started Quizlet
Quizlet was created by Andrew Sutherland back in 2005. At the age of fifteen, he had an idea about how to create flashcards for students who were struggling to learn languages. In order to do so, he decided to build a website where people could share and discuss flashcard decks. Since then, Quizlet has grown into one of the largest sites on the internet. Today, thousands of teachers around the world use Quizlet to improve their teaching methods and engage their students.
However, he went on to write an app called Quizlet. This enabled people to create quiz sets and then share them with each other. He also started selling premium accounts, allowing users to upload their own questions, answers, and quizzes. In addition, he sold advertising space on his website, enabling him to make money. By 2009, he had accumulated $1 million in revenue.
The company was bootstrapped until 2015. It grew rapidly after Matthew Glotzbach came onboard. And since then, they’ve raised several funds.
Quizlet Business Model
The flagship product of Quizlet is a free service for creating and using flashcards.
Quizlet allows students to access, make, test, and share millions of Flash Cards for free. Students can use their own words or choose from thousands of pre-made ones. They can even take quizzes online using the Learning Assistant feature.
With the help of the Learning Assistant, students can create their own customized study plans. However, Quizlet Live offers a fun and competitive game environment for both students and teachers.
With Quizlet Live, teachers can gamify their lessons by turning them into games. They can also engage students before and after classes using live quizzes and review sessions. And they can monitor student
It has been at the forefront of the digital revolution since the early 2000s. Its business model revolves around subscriptions, classified ads, and paid content.
They offer three different plans: Free, Individual Student Plan, and Group Subscription.
Students can subscribe to premium accounts at $3.99 per month for students, which removes ads and unlocks extra features.
Quizlet Free
With the free version, you get access to a variety of features including flashcards, interactive quizzing, and practice tests.
Quizlet Plus For Students and Teachers
Students who use Quizlet Plus can get unlimited practice questions from the Quizlet Learning Assistance program. They can also customize their own study path and receive personalized feedback on their progress.
Launched in 2017 by the company Quizlet, the Quizlet learning assistant is an AI-based study companion that connects learners to what they’re studying, whether it’s course material or language.
With premium accounts, teachers can record videos and audio on study sets; customize their own diagram layouts; and create teams for group projects. They can then spend more time teaching students and recording their success easily.
Premium Content Subscriptions
The Premium Content offering helps students get ready for standardized tests or language certification exams by helping them save valuable exam preparation hours.
Premium courses cover the entire range of topics covered in the course, from prerequisites to advanced concepts. They include practice exercises by topic and practice exams. These materials were written by experts such as publishers, authors, and experienced instructors.
You can purchase premium answers through their website and get access to high-quality answer keys and written detailed explanations. They’re valid for one full academic term. Every single answer is carefully vetted by our team before they go live.
Quizlet Group
Quizlet provides teachers with an affordable way to bring their entire class online. Teachers can buy course packs for their entire classroom at once, and easily assign them to students.
Sharing resource is an important part of teaching. Teachers using the tool have saved valuable hours of their own work.
Quizlet Verified Creator Program
The Verified Creators program was introduced in 2017 to help people create high-quality content.
The company partners with several top education companies to provide curated study materials for K–12 classrooms.
How Does Quizlet Make Money?
Quizlet works by charging for its services through an annual subscription. The main source of income is from subscriptions.
Paid subscriptions
Quizlet primarily makes its income through various subscription plans for students, teachers, or group members.
You can choose between a monthly subscription and an annual subscription. A monthly subscription costs $4.99/month per account for students and $49.88/per year per account for teachers. An annual subscription starts at $5.99/per month per subscriber for students and $59.88/per year per subscriber for teachers.
Quizlet also earns revenue through its group subscription program.
In-app Advertising
Advertising revenue is an important source of income for many businesses. It’s not uncommon that Quizlet would be interested in taking advantage of this.
Quizlet makes most of its revenue through advertising. It targets advertisements for students based on their location, interest, or method of learning.
Quizlet‘s main source of revenue comes from ads served by third parties.
Premium Content
Quizlet also makes money by selling premium study materials that are curated and organized for students.
You can purchase the premium content through their website and get access to high ture answers and detailed explanations to help you learn concepts. It’s valid for one year.
Each of their paid course materials has been carefully reviewed and updated according to student input.
Quizlet Answers the Call For Remote Learning
After the coronavirus pandemic hit, most of the world was in lockdown and people were forced to stay at home.
Free Access
To help teachers who were affected by COVID-19, Quizlet offered them free teacher accounts for six months.
Mobile app
The platform adaptively delivers bite-size lessons across various formats (e.g., video, audio, text) to help learners choose and learn from the most effective format for each topic. It is available for both Android and iPhone/iPad-based mobile devices.
Multi-modal strategies
Quizlet provides an easy way to learn anything at any time on any device, using multiple study methods, including flashcards, diagramming, textbooks, and interactive quizzing/game playing.
Flashcards
As an educational tool, Quizlet allows its registered members to customize sets of words, definitions, diagrams, etc., which they use to help them learn new vocabulary.
It’s basically an image and diagram card app with some smart features including managing multiple languages, uploading audio files, etc.
Diagrams
Quizlet launched its Diagrams feature in 2017. It allows students to create diagrams for studying materials by adding text, images, locations, and definitions using built-in annotation features.
Textbook Solutions
Quizlet partners closely with educational institutions and experts to provide them with high-quality study resources.
Games
The app offers seven different types of personalized learning experiences, namely, cards, learn, write, spell, test, match, and gravity.
Match Offering a Gamified Learning Experience: Match’s app allows students to match questions to their answers through a gamified learning experience. Students can choose between timed and untimed modes. When using the timed option, students must complete an assignment within a certain time limit before they can move on to the next prompt.
The Gravity level-dependent game challenges players to write the correct answer to the question before the question appears.
Quizlet Live
Interactive live study sets are interactive online study aids that can be used instead of textbooks in lectures or supplements to textbook reading for reviews.
The Quizlet live feature puts the fun of learning into an interactive, high-energy experience.
This interactive gamified platform allows students to learn by competing against each other. Students must collaborate and strategize.
The feature allows learners to collaborate and learn together through competition. Correct responses advance the group, and incorrect ones send them back to the beginning.
Quizlet Acquisitions, Funding, and Valuation
Quizlet was founded by two MIT students who were looking for an app where they could study together. They built the site themselves using Bootstrap and launched it publicly in 2011. By 2013, it had grown to 100 employees and 1.5 million registered users.
The Series A financing, at $12 million, was used to expand into new markets. It was led by Union Square Ventures and costa nova venture capital. AltaVentures, Owl Ventures, and the founders of ImagineK12.
At the end of 2017, the company announced that it had secured an additional $20 million in funding from Icon Ventures, Union Square Ventures, Costanoa Ventures, and others.
It has decided to expand its global reach by opening offices in North America and Western Europe. Furthermore, it also wants to recruit employees from these regions.
The company has now received $30 million in series C funding from General Atlantic. It’s expected to use the funds for product and innovation, expanding globally, and using better data analytics and AI models.
According to Matthew Glotzbach (CEO of Quizlet), the company has now been valued at $1 billion. This represents a fivefold increase from their previous valuation of $20 million. The company received $60 million in new financing in 2019.
With their latest funding round, Quizlet officially becomes a unicorn with a value of one billion dollars.
On March 31st, 2020, Quizlet acquired Skillshare to further enhance its mission to help people improve themselves through education.
Acquisition of Slader helps meet the growing need for more educational and supplemental materials, problem sets, and solutions in a wide range of fields.
Quizlet Competitors (Competition in the Ed-tech Space)
During these unprecedented times, effective teaching can be a daunting task, especially for teachers who have not had time to prepare their lessons ahead of time. However, Quizlet has enabled educators to quickly and easily share formative assessment tools to help students stay engaged throughout the course.
There are also competitors and big companies like Khan Academy and Coursera.
Khan Academy
Khan Academy is an educational organization that provides free video lessons for anyone who wants to learn something new. It has thousands of videos covering everything from math to history to science.
Coursera
Coursera has helped millions of people improve their career prospects by providing them with high-quality courses and educational materials.
Online degrees and classes offered by the company are somewhat similar to those available at traditional colleges.
Coursera has official credentials to show that you know a topic well. They also offer affordable classes, flexible scheduling options, and the ability to fit them into busy schedules.
Is Quizlet Profitable?
Quizlet is an extremely successful business that focuses on delivering a quality product and ensuring that its users have a positive experience.
This can be verified by the fact that the business has had a steady stream of positive results since its inception. It has maintained high levels of success, even though it was founded during a time when few companies were succeeding at online marketing.
By 2020, the San Francisco–based startup had grown by 200 percent to 400 percent in terms of user numbers, across its major international marketplaces. It ranked among the 50 most visited websites in the U.S. alone.
The popularity of the application can be vouchsafed by the fact that two-thirds of U.S. high schools and colleges are already making use of it.
Quizlet has been recognized as one of the fastest growing technology companies in North America by being named to Deloitte’s Technology Fast 500 list for the second consecutive time.
Future Prospects
The company plans to expand its AI-powered tutors into a key product and growth and profit driver in the future.
Conclusion: How Does Quizlet Make Money?
Quizlet makes money through a combination of subscriptions, advertising, and premium content. In addition to these sources of income, Quizlet also offers a free version of the site, which includes limited features such as quizzes, flashcards, and practice tests.
With thousands of students using its free online flashcards every day, Quizlet has become an important educational tool for students.
You may like to attend: 39 Best Business Ideas in Bangalore
