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BW Businessworld

Kaplan Invests In iProf

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Washington Post's Kaplan Ventures has annunced an investment of $1.2 mn and a distribution partnership with iProf Learning Solutions to offer test preparation in GMAT and GRE. iProf offers e-Learning solutions through a retail chain for IIT, CAT, PMT and other high-stakes tests on tablet computers.

Kaplan's investment in iProf follows the recent investment of Rs 22 crore from Norwest Venture Partners (NVP) and IDG Ventures India (IDGVI). Together with Kaplan, investors have provided iProf with a total Rs. 27 crore over the past few months.  "These investments are being used to expand iProf nationwide," said Sanjay Purohit, founder & CEO of iProf. "With Kaplan as an investor and partner, our franchisees will have more courses to sell without hiring any additional faculty, making their operations even more profitable."

iProf currently has a retail chain of 20 centres called iStudy zones across the major cities. The company plans to open 80 more such stores by the end of the year, further taking that count upto 600 next year.

The test prep leader in the US and a $3 bn company, Kaplan plans to expand its operations across India through the partnership. "India provides the second largest number of international students to US universities, and more Indian universities are now accepting the GMAT and GRE scores," said Jason Palmer, senior vice president of Kaplan Ventures during the announcement. "The partnership will enable us to provide high-quality interactive courses to students in large cities and rural areas even when they don't have a personal computer or broadband access."

The iProf tablet is priced at Rs 8,000 and the software for GMAT and GRE comes for another Rs 13,000 for 6 months. The software includes video lectures by top faculty, course material and mock tests for self prep. The iProf platform combined with Kaplan's content will make it possible for a student who cannot attend a classroom course to prepare for such high-stakes admissions exams.

(BW Online Bureau)