Everyone’s an expert in something—hypnobirthing, Chinese metaphysics, you name it. But making money off this knowledge can be a different story. Online education platform Teachable allows subject experts to offer video courses to paying audiences. The company helps instructors, who often already have sizable social media and YouTube followings, set up digital storefronts for their videos, while handling payments and other logistics.
“In the past, creators could buy their own domain name and set up a system to process payments,” says founder and CEO Ankur Nagpal. “We take care of that now, so creators can make a video and have a course set up within an hour.” While the average course price hovers around $160, Teachable lets creators offer premium add-on services, such as private video calls and coaching sessions, for additional fees. (The company charges instructors a monthly fee and takes a commission on sales.) Teachable expanded its offerings last year by allowing creators to set up subscription services, accept mobile payments, and list courses in a new digital marketplace. In 2019, Teachable’s 20,000 instructors made $250 million in aggregate, with 32 of them taking in more than $1 million.
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A version of this article appeared in the March/April 2020 issue of Fast Company magazine.