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Did you spend the next five years ten years in the space? Are you passionate about it? Right you touched upon that what made you passionate about education? Let's talk about how you went about founding Emeritus. So the for me education was transformational on it. I cannot be where I am today. If I did not go to Harvard Business School or by the way any school of that caliber about is what I got into other schools wouldn't have me actually so for me education was Why transformational because it also taught me that I could take a plunge and become an entrepreneur and I would have a safety net my network. So, you know, I always say education gives you three things intellectual Capital brand capital and Social Capital. So my first check came from that social capital from friends who were, you know, in class with me brand Kappa like into n number of times when I pitched and some stew we see sometimes now in my current role too many universities the fact that I went to Harvard matters intellectual Capital by the way, I think is the most important thing the ability to look back and say what skills do I have? What do I not have how do you negotiate with people? How do you attract Talent? Excetera it so it gave me a solid footing that I think even today is very helpful. So for me, it's occasion has been a critical path to my success. I think most of us would at some study other think of a teacher or you know a class. We took that even today stays with us. What are the challenges though? Right the challenges are that it's still being taught in the method that will start hundred two hundred years ago, right? There's one instructor in front of 50 students is predominantly lecture. The bigger challenge actually is access right how many people from say India or from Southeast Asia Mexico China can pack up the bags spend two years and more than a crore and get that education, right? And even by the way people want to the schools only accept Percent or 10 percent. So accessibility is a big challenge. So one of the things that we set out to do was to say let's solve this challenge right? It's not that the schools don't want to teach more students but they have constraints on capacity. It's not that the students don't want to get this education but there's a considered of cost sometimes language sometimes just access, you know, if you are, you know high-growth startup whether it's India China wherever else, you know, and you are let's say, you know, three four years of work experience leaving that going to a school there's an Opportunity cost right? So there are multiple reasons our real goal was how do you make high-quality education accessible and affordable affordable is a part of access. It's not the only part of access. So for me, this was a problem statement that is core to my heart because that's exactly what happened to me in. My answer was Citibank which gave me a loan which you know, we paid off but you know, that was the way I did it but I think in the end of 15 years later there many more ways in which education can be made accessible Garden. So, what did you start with? What is the first So our first step was, you know, we started off with insead which was the first school. They offer an emba out of the Singapore campus very few people from India were coming. So when we started this program in 2011, it was very India focused. That emba was like $90,000. We got it down to $25,000 and we got 50 students. These were people working professionals mid-career professionals. And to me the one question I had was on When we say education right for me, that means there is a quality learning outcome. Right? It's not just content. There's a big difference in content and education. So the question was these 55 people at the end of the year. Will they look back and say hey this program had a transformational impact, right? Because again, my dominant logic was a two-year MBA my co-founder did a one year MBA. So this was like six to eight weeks of teaching spread across the year and the answer was yes, I mean, it's phenomenal when we heard heard heard the success stories. Of people who became entrepreneurs who got jobs abroad who took on larger positions in the same company Etc. So that's okay now that we haven't seen yet. What's the next goal? What's the next? When was this in CSS? 2011 our second School Wharton was 2012 MIT was 2013. Columbia was 2014. So took one year for each of these schools. Yeah, the early days were like I said, we are bootstrap, right? So whatever little money we made from one program. We launched the next one and then we launched the next one. So I was head of marketing head of Finance at all. Charge so then I was head of operations as well as problem people in the team at that time. It was actually true Tanya me his wife my wife and two external employees with a bunch of six people like okay, but it was actually fun times because we really understood the customer and the product and what parts of the product appeal to the customer and so on and so forth. Actually, I would not change that order. I know some companies can raise a lot of money upfront in scale, but for us that actually worked quite nicely then in 2013. Dean Coursera launched 2014 edx launch 2015 was the year of the mooc and we were sitting here and saying, you know what the biggest challenge to scale what we do is faculty available. But if you go online we could scale but even when we did online, we didn't believe in the mooc model again, we come from this belief of learning outcomes so high touch so we did online, but you can have a live session with the faculty you will have grading and you'll have feedback. You'll do group work in many cases many of our courses. You'll have simulations so that led to Emeritus which today is, you know, like I said across both the classroom and online programs. We do 30,000 students, but had we not invest it in the online growth. We probably would probably would be a much smaller business today only in growth as in the early phase you or early phase. So our first online course we offered it on 2015. We were I think one of the earliest providers with the university to do an on mooc type course, so we call it. It's Park small private online courses small and private because typical cohort sizes are about 300 to 400. But even then you have sections of hundred in groups of six. So, it's really much more intimate private because sometimes our entry criteria, it's not like you can just in Road. And so I think with one of the first proper lens of the spark methodology this to editors this is to Emeritus simmer it is it's a writer's does the classroom programs. That is does the online program online. Okay. Got it. And then we'll the from a student's perspective in the case of the spark initial ones where they learning from MIT or were they learning from Emeritus so both so they would have recorded faculty lectures from MIT in some cases MIT faculty would come and deliver live sessions. But some of the backend work around, you know, discussion boards or even ta kind of support t as in teaching assistant support was provided by me. - got it. Okay. So and when did you know this? This is working like yeah, so even the actually like like all the entrepreneur journey is you make some mistakes, right? So in the classroom programs, we initially our classroom programs. The topics are due by the leadership and strategy. So we launched those online they didn't do so well, but the moment we started going into skill based courses like so digital marketing data signs and those kind of topics. They really started doing well. So by 2016, so year after we launched we Tweaking the portfolio into skill-based topics. In fact today. Most of what we do online is skill-based and that has really taken off. So when we launched online, you know the first year I was about five percent of our total enrollments today. It's about 70% and when you see skill-based givers in some examples, so python for data science, right or digital marketing strategies or machine learning things people can get a job boost. Exactly. So either you get a new job because you acquired a new skill or or in your current job. You can take an expanded role. And obviously there is the consequence of that is that some kind of an increase in compensation or career prospects got it. Okay, and then this but when you decided to take capital in 2016, so what changed what made you want to do that then so we felt in 2016 we felt that the online courses were really the growth engine now online requires investment because you have to create the course. It's a high-quality content creation team. We decided to base our content creation team in Boston the front-end part of it. We do some back-end editing and visualization in Mumbai the boss. The professors are there because the professors are there and so you have to do instructional design with them. And so we realize that that requires investment. You also have to start building technology and then we realize that with online you can Market globally and in a mighty is a brand in China in Spain in Peru in India in you know, I mean name it most parts of the world, right? So with classroom you are constrained by the location where the Last from it but with online there's no such constraint. So we realized that we needed to enhance a digital marketing capability. So all of those required investment and we also realize you could scale much faster and given like I said earlier we were the first people to do this why not capitalized by investing so that's what really made us think about raising Capital. Got it, okay.