MasterClass

Last updated

MasterClass
MasterClass logo 2020 (pink).svg
Type of site
Private
FoundedOctober 2014;9 years ago (2014-10) (as Yanka Industries)
Headquarters San Francisco, California, U.S.
Founder(s)
Key peopleDavid Rogier (CEO) [1]
Valen Tong (CFO)
David Schriber (CMO) [2]
Len Amato (CCO) [3]
IndustryOnline education
Employees480 (2022) [4]
URL masterclass.com

Yanka Industries, Inc., doing business as MasterClass, is an American online education subscription platform on which students can access tutorials and lectures pre-recorded by experts in various fields.

Contents

The concept for MasterClass was conceived by David Rogier and developed with Aaron Rasmussen. [5]

History

MasterClass was founded by David Rogier while a student at Stanford University, originally under the name "Yanka Industries". [6] [7] Rogier, who continues to serve as chief executive officer (CEO), [8] asked Aaron Rasmussen to join the company as a co-founder and chief technology officer; Rasmussen would also serve as creative director, [9] before leaving in January 2017. [7] The website launched under the MasterClass name on May 12, 2015. [10] [11] [12]

MasterClass launched in 2015 with three instructors, and twelve classes were added in 2017. [10] [13] In late 2017, an acting class given by Kevin Spacey was removed after multiple sexual assault allegations were publicly made against the actor. [14] By late 2018 MasterClass had about 50 classes and 1,000 lessons. [15] Support for mobile devices was first added in April 2018. [16] MasterClass hired David Schriber as chief marketing officer in June 2019. [2]

MasterClass was started with $4.5 million in initial funding and two seed-funding rounds totaling $1.9 million. [17] This was followed by $15 million in funding announced in 2016, [17] $35 million in 2017, [18] and $80 million in 2018. [16] In May 2020, MasterClass raised $100 million in a Series E funding round led by Fidelity Investments, [19] bringing total funding to approximately $240 million. [20]

In May 2021, the company received $225 million in a Series F round, giving it a $2.75 billion valuation according to CNBC reporting. [21]

In June 2022, the company laid off 20% of its staff, citing the worsening macroeconomic environment. [4]

Classes

MasterClass produces online classes with well-known instructors in their field of expertise. [22] Classes cover topics like writing, sports, and cooking. [23] As of 2019, the company was expanding into politics, economics, and video game design. [24] Many instructors do live demonstrations if the topic is easy to illustrate visually, while writers lecture. [24]

The courses are available through an annual subscription. [25] The classes are typically not interactive, though at least one course included interactive assignments where the student acted with other students, either in person or over Skype. [26] [27]

Reception

Reviewers have noted that some of the courses, such as those related to the performing arts, require that students already have some basic proficiency. The courses were also noted for their high production values, and for inspiring students to continue to pursue the subject matter. Exposure to popular celebrities was also reported as a benefit. [28] [29] [30] [31] [32] [33] The Verge noted that while the subscriptions initially lasted a lifetime, different courses have different replay value. The publication also noted the challenge of keeping students on the site to take additional classes. [34]

In 2019, chef Dominique Ansel's MasterClass on French pastries received a James Beard Foundation Broadcast Media Award in the Online Video, Fixed Location and/or Instructional category. [35] [36]

In 2020, MasterClass won two Webby Awards, for Education & Reference in the Apps, Mobile & Voice category, and for Media Streaming in the Web category. [37]

In 2021, MasterClass again won two Webby Awards, as well as a Webby People's Voice Award. [38]

Notable instructors

Notable past and present instructors include: [39] [40]

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References

  1. ↑ "MasterClass, the education platform featuring all-star instructors, will soon teach you how to run for office, too – TechCrunch". TechCrunch – Startup and Technology News. October 3, 2018. Archived from the original on May 23, 2019. Retrieved May 23, 2019.
  2. 1 2 Nevins, Jake (May 25, 2020). "It's the Year 2120. MasterClass Is the Only School Left". The New York Times.
  3. ↑ Goldberg, Lesley (January 18, 2022). "Former HBO Exec Len Amato Set as Content Chief at MasterClass". The Hollywood Reporter.
  4. 1 2 Spangler, Todd (June 22, 2022). "MasterClass Lays Off 120 Staffers, About 20% of Its Headcount". Variety .
  5. ↑ Loizos, Connie (February 23, 2016). "MasterClass Raises $15 Million For Online Classes Taught By Celebrities". TechCrunch. Archived from the original on September 29, 2020. Retrieved December 27, 2017.
  6. ↑ Sahadi, Jeanne (January 23, 2020). "What 12 minutes with a famous CEO can teach you". CNN Business. Archived from the original on July 9, 2020. Retrieved September 24, 2020.
  7. 1 2 Chocano, Carina (September 2020). "What Is MasterClass Actually Selling?". The Atlantic . Emerson Collective. Archived from the original on September 24, 2020. Retrieved September 24, 2020.
  8. ↑ "40 Under 40: Media and Entertainment: David Rogier". Fortune . 2020. ISSN   0015-8259. Archived from the original on October 22, 2020. Retrieved September 24, 2020.
  9. ↑ Ha, Anthony (August 13, 2019). "MasterClass founder launches Outlier, offering online courses for college credit". TechCrunch. Archived from the original on November 27, 2020. Retrieved December 1, 2020.
  10. 1 2 Gardner, Chris (May 12, 2015). "Dustin Hoffman, Serena Williams and James Patterson Team for MasterClass Project". The Hollywood Reporter. Archived from the original on April 5, 2019. Retrieved February 17, 2019.
  11. ↑ Holson, Laura (September 27, 2015). "How to Take a Class From Serena Williams and Usher". The New York Times. Archived from the original on May 14, 2020. Retrieved February 17, 2019.
  12. ↑ Kokalitcheva, Kia (February 23, 2016). "Here's How To Learn Acting From Kevin Spacey and Singing from Christina Aguilera". Fortune. Archived from the original on March 9, 2019. Retrieved February 17, 2019.
  13. ↑ Spangler, Todd (April 20, 2017). "David Mamet to Teach Online Drama Writing Course". Variety. Archived from the original on April 3, 2019. Retrieved February 17, 2019.
  14. ↑ Hayes, Dade (October 31, 2017). "Kevin Spacey MasterClass Dropped From Online Instructional Video Hub". Deadline Hollywood. Archived from the original on April 2, 2018. Retrieved April 1, 2018.
  15. ↑ Chan, Tim (October 27, 2018). "Online Classes to Take If You Want to Make It in the Movie Business". Variety. Archived from the original on June 14, 2019. Retrieved May 29, 2019.
  16. 1 2 Clark, Kate (September 6, 2018). "MasterClass raises $80M after doubling sales last year". TechCrunch. Archived from the original on August 14, 2021. Retrieved February 18, 2019.
  17. 1 2 Spangler, Todd (February 23, 2016). "Startup MasterClass Raises $15 Million, Launches Kevin Spacey Acting Tutorial". Variety. Archived from the original on June 5, 2019. Retrieved May 29, 2019.
  18. ↑ Spangler, Todd (March 28, 2017). "MasterClass, Purveyor of Celebrity Online Courses, Raises $35 Million Led by IVP". Variety. Archived from the original on April 25, 2019. Retrieved February 17, 2019.
  19. ↑ Kellaher, Colin (May 20, 2020). "MasterClass Raises $100 Million in Series E Round Led by Fidelity". The Wall Street Journal. Archived from the original on June 15, 2020. Retrieved December 1, 2020.
  20. ↑ "Fundraising lessons from David Rogier of MasterClass". TechCrunch. September 23, 2020. Archived from the original on February 28, 2021. Retrieved February 18, 2021.(subscription required)
  21. ↑ Bosa, Deirdre; Batchelor, Laura (May 13, 2021). "MasterClass more than triples valuation in one year". CNBC. Archived from the original on June 15, 2021. Retrieved June 17, 2021.
  22. ↑ McCarvel, Nick (May 12, 2015). "Serena Williams helping tennis players reach their goals". USA TODAY. Archived from the original on April 5, 2019. Retrieved February 17, 2019.
  23. ↑ Spangler, Todd (August 9, 2018). "Ken Burns to Launch Documentary Filmmaking Course Online With MasterClass". Variety. Archived from the original on April 25, 2019. Retrieved February 18, 2019.
  24. 1 2 Rudin, David S. (January 16, 2019). "MasterClass sells the idea that successful people have something to teach you". Vox. Archived from the original on February 5, 2019. Retrieved February 18, 2019.
  25. ↑ "The 15 best online courses on MasterClass, from acting with Samuel L. Jackson to writing with Margaret Atwood". Business Insider. February 9, 2021. Archived from the original on February 14, 2021. Retrieved February 17, 2021.
  26. ↑ Fleming, Mike Jr (April 20, 2017). "David Mamet Teaches Master Class On Writing For Stage & Screen". Deadline Hollywood. Archived from the original on December 24, 2019. Retrieved December 27, 2017.
  27. ↑ Lusher, Adam (May 29, 2015). "Dustin Hoffman's online acting class: What it's like to learn from the master". The Independent. Archived from the original on April 13, 2020. Retrieved December 27, 2017.
  28. ↑ Reed, Sam (May 10, 2016). "Christina Aguilera's MasterClass in Singing Through the Eyes of a Non-Singer". The Hollywood Reporter. Archived from the original on December 27, 2017. Retrieved December 27, 2017.
  29. ↑ Kaufman, Amy (July 14, 2017). "In this digital self-help age, just how effective are MasterClass's A-list celebrity workshops?". Los Angeles Times . Archived from the original on May 5, 2018. Retrieved May 11, 2018.
  30. ↑ Osburn, Christopher (May 29, 2017). "Can Gordon Ramsay's MasterClass Make You A Master Chef? We Tried It". AskMen. Archived from the original on December 27, 2017. Retrieved December 27, 2017.
  31. ↑ Golembewski, Vanessa (August 10, 2015). "I Took An Acting Class With Dustin Hoffman — & This Is What Happened". Refinery29. Archived from the original on December 27, 2017. Retrieved December 27, 2017.
  32. ↑ Maynard, Joyce (August 4, 2015). "An Accomplished Writer Takes a 'MasterClass' From a Gargantuan Selling Writer". Observer. Archived from the original on December 27, 2017. Retrieved December 27, 2017.
  33. ↑ Zoladz, Lindsay (December 29, 2015). "What I Learned From Usher's Online Class on 'the Art of Performance'". Vulture. Archived from the original on December 27, 2017. Retrieved December 27, 2017.
  34. ↑ Plaugic, Lizzie (May 15, 2017). "Who is MasterClass for? Talking to the people who take online classes with big-name celebs". The Verge. Archived from the original on December 27, 2017. Retrieved December 27, 2017.
  35. ↑ "The 2019 James Beard Media Award Winners". James Beard Foundation. April 26, 2019. Archived from the original on October 31, 2020. Retrieved December 18, 2020.
  36. ↑ Canavan, Hillary Dixler (April 26, 2019). "Here Is the Full List of 2019 James Beard Foundation Media Award Winners". Eater . Vox Media. Archived from the original on November 12, 2020. Retrieved December 18, 2020.
  37. ↑ Kastrenakes, Jacob (May 20, 2020). "Here are all the winners of the 2020 Webby Awards". The Verge. Archived from the original on May 21, 2020. Retrieved May 22, 2020.
  38. ↑ Antonio Ferme (May 18, 2021). "Variety Wins Webby Award for Best Entertainment Website". Variety. Archived from the original on May 25, 2021. Retrieved July 12, 2021.
  39. ↑ Hubbard, Lauren (October 16, 2020). "The Best MasterClass Classes to Pick Up a New Skill". Town & Country . Archived from the original on March 2, 2021. Retrieved March 5, 2021.
  40. ↑ Cheslaw, Louis (October 8, 2020). "The Best MasterClass Classes, According to People Who've Taken Them". New York . Archived from the original on February 19, 2021. Retrieved March 5, 2021.
  41. 1 2 3 4 5 6 Hartzog, Oscar (December 1, 2020). "Best Tip for Making Your Own Movies? Start with These Filmmaking Masterclasses". Rolling Stone . Archived from the original on February 17, 2021. Retrieved March 5, 2021.
  42. ↑ "MasterClass Launches Class on Philosophy with Dr. Cornel West" (Press release). November 18, 2021.
  43. 1 2 3 4 5 6 7 Toumazou, Aaron (November 15, 2020). "19 best Masterclass courses to learn new skills from the pros". GQ . Archived from the original on August 14, 2021. Retrieved March 5, 2021.
  44. ↑ "Meet Your Instructor: Futura". Masterclass.com. August 19, 2021. Retrieved December 13, 2021.
  45. ↑ "James Cameron Teaches Filmmaking". MasterClass. Archived from the original on August 14, 2021. Retrieved July 4, 2021.
  46. ↑ "'Free Solo' Director Jimmy Chin Launches Adventure Photography MasterClass". Condé Nast Traveler. December 5, 2018. Archived from the original on July 15, 2021. Retrieved July 16, 2021.
  47. ↑ "Me and @MariahCarey go back like babies and pacifiers". April 16, 2022. Retrieved April 17, 2022.
  48. ↑ "Mariah Carey Reveals A Reimagined Fan Favorite With Brandy For Her Masterclass". UPROXX. April 14, 2022. Retrieved April 14, 2022.
  49. ↑ "MasterClass Announces Award-Winning Author and Journalist Michael Pollan to Teach Intentional Eating" (Press release). MasterClass. PR Newswire. November 22, 2022. Retrieved November 28, 2022.
  50. ↑ "MasterClass Announces Renowned Scholar and Intellectual Noam Chomsky on Independent Thinking and Media's Invisible Power". PR Newswire. July 23, 2023. Retrieved October 8, 2023.
  51. ↑ Chan, Tim (November 27, 2020). "The Best Giftable MasterClass Courses Taught by Top Film Industry Icons". Variety. Archived from the original on February 12, 2021. Retrieved March 5, 2021.
  52. ↑ Bote, Joshua (June 22, 2022). "MasterClass, headquartered in San Francisco, lays off 20% of employees". San Francisco Chronicle .
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