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StudySoup is a digital learning marketplace allowing purchase and sale of academic content including course notes, study guides, and tutoring services.[1][2][3][4]

Background

Sieva Kozinsky, an environmental studies graduate from UC Santa Barbara had difficulty concentrating because of the speed of the lecture and lack of supportive academic resources.[1][5][6][7][8] Kozinsky along with Jeff Silverman started StudySoup in 2014 to source academic support and provide a means for students to earn money while in school.[1][9][10][11][12]

Operations

StudySoup is an online peer-to-peer learning marketplace[5][13][11][8] that allows students to sell[9] and purchase class notes and study guides.[1][13][14][10][11] The sellers or Elite Notetakers[5] have to undertake a training[9][15] to understand the type of materials to be provided and its frequency.[1][6] They have to submit notes every week and a study guides four days prior to every exam.[9][6]

StudySoup

StudySoup is a for-profit corporation that employs students as notetakers at various universities across the world in order to provide a more positive experience for undergraduate college students.

History

Kozinsky and Silverman set out to provide students a new source of income and in the first year obtained 1.5 million students across the United States.[16] The platform was opened up to more universities in 2016 as they pushed their borders outside of the United States and into Singapore and Canada. Several concerns about the legitimacy of StudySoup arose due to it's changing business model.[17]

Products

There are only three products currently provided by StudySoup.

Class Notes & Study Guides

StudySoup is known for its Elite Notetaker program, which recruits notetakers to apply to sell notes to other students for Karma Points, it sells a subscription to earn Karma and to gain access to the previous archives other notetakers have gathered over the years.

Textbook Solution Guides

StudySoup provides step by step walk throughs explaining the questions in supported textbooks

On Demand Questions

Students are given the ability to ask any question they want which will be answered within 24 to 48 hours.

Community

StudySoups community consists of different levels of participants. Campus Marketing Coordinators are responsible for connecting schools together by recruiting notetakers and establishing an on campus presence. Elite Notetakers provide notes and study guides for students with disabilities or paying subscribers enrolled in the course. Finally the students complete the circle by paying for the notes they use. However there have been documented instances of StudySoup using the imagery and logos of universities without permission in order to falsify promote the idea that a school approves the platform[18]

Business Model

This business is subscription based. Any one of three subscriptions can be purchased for various prices that provide access to the content students gather over the course of a school year.

Controversy

Florida State University has issued warnings to its students about Studysoup using the logo of Florida State University without permission from the school. Despite the use of the logo by Studysoup they are in no way affiliated with the school and FSU does not condone the services being provided by this company.[18]

References

  1. ^ a b c d e "StudySoup raises $1.7M to help students buy and sell class notes". TechCrunch. Retrieved 2018-07-05.
  2. ^ "Business ideas for 2017: Edtech 2.0 - Startups.co.uk: Starting a business advice and business ideas". Startups.co.uk: Starting a business advice and business ideas. 2017-01-17. Retrieved 2018-07-05.
  3. ^ Rashid, Brian. "How This Entrepreneur Is Changing The Way College Leaders Are Learning". Forbes. Retrieved 2018-07-05.
  4. ^ Goldin, Kara. "Is Collaborative Thinking Essential for Success? 2 CEOs Hash It Out". Forbes. Retrieved 2018-07-05.
  5. ^ a b c "500 Startups-backed StudySoup is launching its peer-to-peer marketplace in 15 new colleges". VentureBeat. 2014-10-21. Retrieved 2018-07-05.
  6. ^ a b c "StudySoup 完成 170 万美元种子轮融资，为大学生提供课堂笔记线上交易平台" (in Chinese (China)). Retrieved 2018-07-05.
  7. ^ "College side-hustles that pay in cash and grades". Retrieved 2018-07-05.
  8. ^ a b "Meet the UC honorees of Forbes' 30 Under 30 list". University of California. 2017-01-26. Retrieved 2018-07-05.
  9. ^ a b c d photo, Bailey Schulz | Courtesy. "Online service StudySoup pays students to take notes". The Daily Nebraskan. Retrieved 2018-07-05.
  10. ^ a b "Starting a Business? How to Identify an Opportunity, and Exploit It". The Cheat Sheet. 2016-01-20. Retrieved 2018-07-05.
  11. ^ a b c Shulman, Robyn. "Global EdTech Investments And Outlook: 10 EdTech Companies You Should Know About". Forbes. Retrieved 2018-07-05.
  12. ^ Knecht, Taylor. "StudySoup makes passing notes classy". The Daily Aztec. Retrieved 2018-07-05.
  13. ^ a b "StudySoup Disrupts Edtech with Student Notes Marketplace". TechCo. 2014-10-18. Retrieved 2018-07-05.
  14. ^ Tronier, Ryan (2014-10-21). "'StudySoup' lets students at CU-Boulder and CSU sell notes and course material to their classmates". 7NEWS. Retrieved 2018-07-05.
  15. ^ "Future Innovators Scholarship Opportunity from StudySoup | American Astronomical Society". aas.org. Retrieved 2018-07-05.
  16. ^ Ifie, John (2017-04-28). "3 Edtech Startups to Watch in 2017". Huffington Post. Retrieved 2018-08-15.
  17. ^ "How to Make Money in College: Is StudySoup Legit?". The Work at Home Wife. 2017-02-19. Retrieved 2018-08-15.
  18. ^ a b "StudySoup and FSU: FSU does not condone buying or selling notes on any platform - FSU Canvas Support Center". support.canvas.fsu.edu. Retrieved 2023-11-19.
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