Thinkific demonstrates strength of surging course creator economy with $160M IPO
Successfully completed TSX IPO values Thinkific at over $1B
VANCOUVER, BC, April 27, 2021 /PRNewswire/ - Thinkific Labs Inc. (TSX: THNC) ("Thinkific" or the "Company"), is pleased to announce that it virtually rang the opening bell at the Toronto Stock Exchange (TSX) today to celebrate the company's first day of public trading, listed under the ticker symbol "THNC". As a leading online course platform in the burgeoning course creator economy, Thinkific is poised to accelerate Knowledge Entrepreneurship and help global businesses diversify through online education.
"Our mission is, and always will be, to make it easy for course creators to build and scale profitable businesses through transformational online learning experiences." said Greg Smith, Co-Founder and CEO of Thinkific. "We believe education is the most powerful force for positive change in the world, and commerce is the rocket fuel that powers it. We are proud to be a part of this explosive sector and drive this impact forward for years to come."
Thinkific is an all-in-one, cloud-based software platform designed to enable entrepreneurs and established businesses to create, market, and sell online courses. Course creators can easily build and launch customized online courses for their audiences under their own brand, with no technical experience required. The Thinkific platform is designed for ease of use, reliability and scale, using enterprise-level technology to enable course creators to develop transformative learning experiences for their students and drive sustainable revenue for their businesses.
After a tumultuous year that saw the rise of entrepreneurship and the mass adoption of online learning, many businesses grew and pivoted by sharing their knowledge online for the first time. In 2020 alone, Thinkific saw annual recurring revenue grow by 150% year-over-year as course creators taught over 21 million students, and earned over $275 million USD in revenue from direct course sales on the Thinkific platform.
"With the growing democratization of education and the expanding opportunities for businesses to monetize their skills and knowledge online, we envision that doors will continue to open across the world to a new era of Knowledge Entrepreneurship," commented Greg Smith. "We will be investing even more in research and development to help businesses build, grow and diversify through courses. Becoming a public company is an exciting and important milestone, but our journey is just beginning. Today we're helping more than 50,000 active course creators — and in the future, we can help millions. We are just getting started."
All non-specified numbers are listed in CAD.
Thinkific (TSX:THNC) makes it simple for entrepreneurs and established businesses of any size to scale and generate revenue by teaching what they know. Our platform gives businesses everything they need to build, market, and sell online courses and other learning products, and to run their business seamlessly under their own brand, on their own site. In 2020 alone, Thinkific's 50,000 active course creators earned more than $275M USD in direct course sales while teaching tens of millions of students. Thinkific is headquartered in Vancouver, Canada, with a distributed and growing team.
For more information, please visit www.thinkific.com.
This news release includes forward-looking statements and forward–looking information within the meaning of Canadian securities laws. Often, but not always, forward–looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding the growth of online education and our ability to scale our platform to accommodate an increase in course creators. Such statements and information are based on the current expectations of Thinkific's management, and are based on assumptions and subject to risks and uncertainties. Although Thinkific's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. The forward–looking events and circumstances discussed in this news release may not occur by certain dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Thinkific, including the risk factors set forth in Thinkific's prospectus under the heading "Risk Factors". Although Thinkific has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward–looking statements and information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward–looking statement or information can be guaranteed. Except as required by applicable securities laws, forward–looking statements and information speak only as of the date on which they are made and Thinkific undertakes no obligation to publicly update or revise any forward–looking statement or information, whether as a result of new information, future events or otherwise.
View original content to download multimedia:http://www.prnewswire.com/news-releases/thinkific-signals-a-new-era-for-knowledge-entrepreneurship-with-landmark-ipo-301278224.html
SOURCE Thinkific Inc.