K12: Mr. Ron Packard
K12 is the world’s largest online school for kindergarten through grade 12 and has been in operation since 2000. Their mission statement “to provide any child access to exceptional curriculum and tools that enable him or her to maximize his or her success in life, regardless of geographic, financial, or demographic circumstance” says it all. They offer over 200 core courses and many electives in a format, which is fully online yet in a blended learning environment. The K-8 grades have plenty of hands-on materials (CDs, art supplies, classic literature) while the higher grades offer virtual labs and e-books. Courses utilize Flash animation, game simulations, avatars, threaded online discussion groups, video lectures, online debates, and more. Some of the adaptive courses in math and reading intelligently adjust to individual skill and knowledge levels, ensuring that students grasp critical concepts before moving on. Today the company offers 15,000 lessons to more than 55,000 full-time students all over the world.
The current CEO of K12, Ron Packard, is also the founder of the company. He got the idea to launch an online school because his daughter’s kindergarten did not provide enough math instruction and when he tried to purchase a course but could not find one that was specific to his needs. Mr. Packard is well-educated man with a long list of awards, experience, and education in the fields of entrepreneurship and education. He has a BA in economics mechanical engineering (University of California, Berkley), and MBA (University of Chicago) is a chartered financial analyst and a Hughes Scholar. Previous to K12, Mr. Packard was a vice president of Knowledge Universe, and CEO of Knowledge Schools.
K12 performed exceptionally well as a startup company: it generated $6 million in the first year, $36 million the second year, $70 million the third year and currently has revenue of more than $310 million.
There are 8 members of the board of directors, 13 senior management positions. The members on both teams are an impressive group of well-educated, experienced and successful people. As individuals they all have their area of expertise and as a whole they provide the company with support and knowledge in all areas.
When reading about Mr. Packard’s reason for starting the company it made me reflect on what happens when I search for something that I cannot find. I feel that either it doesn’t exist (oh, well) or I haven’t found it yet (keep searching). It never dawns on me to create it. As teachers we are always warned about wasting time “recreating the wheel” but in the age of technology there are many wheels which can still created. He has surrounded himself with experts in the many areas from finance to curriculum development, which, from my point of view makes him a strong leader who trusts his team instead of micromanaging. I doubt that K12 would be as successful if he had his hand in everything.
References
Chicago Booth News. Retrieved from http://www.chicagobooth.edu/news/2008evc/2008-11-14_evc-packard.aspx
K12. http://www.k12.com/educators/home
K12 Image from: http://www.imsglobal.org/images/k12_logo.gif
Posted in: Week 04: Entrepreneur Bootcamp
vawells 6:00 am on June 2, 2012 Permalink | Log in to Reply
Hi Bridget
Thanks for such a comprehensive analysis of the company. I had not heard of K12 but your piece has motivated me to go and take a look. It amazes me how these successful ventures begin from such ordinary problems.
Thanks for sharing
Valerie
gillian 9:31 am on June 2, 2012 Permalink | Log in to Reply
Hi Bridget,
The inspiration for some of these ventures I think has become my most favourite part. It seems to indicate that if one personally sees the need for a product there really is likely several other people who would agree, but as you said most would not seek to fill it.
gillian
lisamallen 2:49 pm on June 3, 2012 Permalink | Log in to Reply
I agree with you here Gillian – the inspiration is the most inspiring part of all these ventures!
Lisa
shawn harris 11:40 am on June 2, 2012 Permalink | Log in to Reply
Bridget,
Quite an insightful analysis on the company. I never heard of K12 and will certainly take a look
shortly. I am impressed by these success stories. For a start up company such as this really needed a versatile, experienced and well educated team for it to perform exceptionally well.
~Shawn
janetb 12:14 pm on June 2, 2012 Permalink | Log in to Reply
Hi Bridget,
Thanks for the summary – it sounds like a very intriguing site. I review the Khan Academy and it was good, but this sounds more comprehensive. I am going to check it out.
Janet
Denise 2:30 am on June 3, 2012 Permalink | Log in to Reply
HI Bridget,
Thanks for the introduction. They certainly offer a variety of access options – school programs, parent doing the coaching or their own online coaches. I haven’t had any experience with this system but they certainly have created the market for a number of different buyers.
Denise
Allan 12:24 am on June 4, 2012 Permalink | Log in to Reply
This is an excellent company you profiled Bridget, thanks for sharing. It’s fascinating that it was Packard’s daughter that triggered his search for a program that led to K12.