Who says early stage companies have to raise money to grow? It can be done if you have the right business model and put in a cost structure that can fuel growth.
AUSTIN, Texas (PRWEB) May 23, 2018
360Training, the largest Austin based e-learning organization, announced in February that Ed Sattar, the Company’s founder sold a controlling interest in the Company to PWP Growth Equity. Mr. Sattar remains involved with the business and continues to be a minority shareholder. He has transitioned the day-to-day responsibilities to a new CEO, as 360Training sets its sights on further expansion and its next stage of growth in connection with its new partnership with PWP.
This marks the end of an era for Mr. Sattar, and the beginning of a new one, as he makes a well-executed and successful exit along with some other former members of his team. A great Austin success story.
360Training was founded by Ed in the year 2000. Based out of Austin, the organization started off with only three employees from a small 1900 SQFT office on 6th street. It was a bootstrap company that never raised any money from a venture capital firm. It funded its growth organically via operating capital into a multinational organization with more than 400 employees across the US, Pakistan, and Philippines.
“Who says early stage companies have to raise money to grow? It can be done if you have the right business model and put in a cost structure that can fuel growth,” says Ed Sattar.
“360Training was one of the first e-Learning companies in Austin, and it inspired a number of startups in the city. Over the years, there have been numerous start-ups that traveled the road 360Training paved for them,” says Ed.
360Training was a pioneer of regulatory compliance certification and continuing education training across multiple disciplines. The Company has helped regulators implement web based delivery standards to accredit training providers at the time when the concept was new in the industry. The Company, under Ed’s leadership, helped write some of the e-learning and instructional design metrics for the regulators that are still in use today.
At the time Ed planned his exit, the organization that started with a handful of employees had over 1500 e-learning partners, having served 400 million students in 176 countries. “Looking back at the journey, I am extremely satisfied with what we achieved with 360Training. We pioneered online learning in the US at a time when the concept was considered an experimental mode of teaching and learning at best, and helped improve LMS technologies to the point where it now supports cognitive learning through multi-modal training.
Ed is now focused on QuickStart Technologies Inc., a cognitive learning marketplace primarily specializing in IT skills training.