StudySoup
| Company type | Private |
|---|---|
| Industry | Education, E-learning |
| Founded | 2014 |
| Founder | Sieva Kozinsky, Jeff Silverman |
Area served | United States, Singapore, Canada |
| Products | Class notes, study guides, textbook solution guides, on demand questions |
StudySoup functions as a digital learning marketplace that connects users for buying and selling academic materials such as course notes, study guides, and tutoring services.
Background
Sieva Kozinsky, who graduated in environmental studies from UC Santa Barbara, encountered difficulties managing rapid lecture pacing and limited study resources. Together with Jeff Silverman, Kozinsky launched StudySoup in 2014 to support students academically while providing them an opportunity to generate income during their studies.
Operations
StudySoup operates as an online peer-to-peer educational marketplace where students can trade class notes and study guides. Those who sell content, called "Elite Notetakers," receive training to ensure quality standards are met and are required to submit notes weekly along with a study guide four days prior to exams.
History
The founders, Kozinsky and Silverman, sought to create additional revenue streams for students. Within its first year, the platform attracted 1.5 million users throughout the United States. By 2016, StudySoup extended its reach internationally to Singapore and Canada. The platform’s business approach has undergone changes and attracted some criticism.
Products
StudySoup provides three primary offerings:
Class notes & study guides
The Elite Notetaker initiative recruits note contributors who earn Karma Points by selling their notes. Subscribers pay for access to these notes as well as a growing archive.
Textbook solution guides
Detailed stepwise explanations are provided for questions from supported textbooks.
On demand questions
Students can submit questions and receive responses within 24 to 48 hours.
Community
The StudySoup community comprises Campus Marketing Coordinators responsible for recruiting notetakers and promoting the platform on campuses, Elite Notetakers who supply materials for paying subscribers or students with disabilities, and students who purchase content. Nevertheless, there have been instances where StudySoup used university logos without permission, suggesting official endorsement.
Business model
The company utilizes a subscription-based revenue model featuring three subscription tiers at different price points. These subscriptions provide access to educational content compiled by students over the course of the academic year.
Controversy
Florida State University has issued warnings regarding StudySoup’s unauthorized use of FSU’s logo. The company is not affiliated with FSU, which does not support or endorse its services.