Mystery Science $140M Exit
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A story about Mystery Science, an educational company that created interactive science videos for elementary schools and had a successful exit.
"Mystery Science was making entertaining educational videos, similar to Blues Clues or Magic School Bus. They would start with questions any kid would have like 'Why are plants green?' or 'How hot is the sun?' and make the definitive, most entertaining, simple answer to that question.
It turned into a game where teachers could pick questions and say 'Hey class, who wants to know the answer to this?' Everyone would get excited, they'd have a worksheet and video that would tease part of the answer, then they'd figure out the next bit.
They reached 4.5 million teachers countrywide - about 50% of the US elementary school market. The amazing part is they only raised $4 million total since starting in 2014. They were doing between $10-20 million in revenue profitably through subscriptions.
They got acquired last year for $140 million. The way they sold was bottoms-up - teachers couldn't help but talk about it to other teachers because it was so amazing. Unlike just wheeling out the TV to watch a movie, this was interactive and based on science questions. Teachers loved it because it made their job easier while being educational."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.