- Thinkific App Store to directly connect developers with
50,000 Thinkific course creators, fuelling the USD $350 billion online education market
- Course creators provided access to new range of
best-in-class tools to run and scale their businesses
- Thinkific making significant investments to build
engagement and momentum in new developer community
VANCOUVER, BC, May 4, 2021 /PRNewswire/ -- Thinkific Labs
Inc. ("Thinkific" or the "Company") (TSX: THNC) , a leading
platform for creating, marketing, and selling online courses, today
announced the official launch of the Thinkific App Store.
Thinkific's App Store is the
first marketplace of its kind to address the surging online course
industry, and an ambitious new component of Thinkific's growing
commerce ecosystem. It represents a new and key advancement for the
Company, one which it intends to invest in and scale extensively to
ensure its course creators have access to best-in-class tools to
run and scale their businesses and capitalize on the growing USD
$350 billion online education
market.*
Developers can now create and sell custom applications for the
Thinkific . In doing so, they access a global market of more than
50,000 active course creators across 165 countries who earned over
USD $275 million in revenue from
direct course sales on the platform in 2020 alone.
"We remain relentlessly focused on enhancing the course creator
experience and providing them with the tools they need to grow
their businesses and deliver world-class courses to their
communities," said Greg Smith,
Co-Founder and CEO of Thinkific. "With the launch of the Thinkific
App Store we're seriously advancing this ambition, connecting
developers directly to our customers who can now even more easily,
and with no technical experience, build the vision they have for
their business and supercharge their growth."
Through the Thinkific App Store, course creators are now able to
more fully customize their courses and other learning products,
market their businesses, and simplify their processes. The store
and all apps are managed through the Thinkific platform, which has
been designed for ease of use and seamless integration. This
ensures that course creators can easily customize their courses to
include unique and sophisticated functionality without technical
knowledge.
According to Neha Varshneya,
Senior Manager, Platform Marketing, "Thinkific is heavily invested
in empowering, supporting and growing our new developer community.
Our ambition is for them to play a key role in our growth story as
we continue to scale to meet the incredible demand we're seeing
from course creators. We spent a considerable amount of time
working with our creator community, our existing developer partners
and our own internal team to design an app store that was flexible
enough to meet the needs of every customer on Thinkific, whether
they're just starting out or delivering courses to millions of
people every week across the globe. Now out of beta, we are excited
to officially launch the Thinkific App Store to market."
The Thinkific App Store will launch with 30 apps across four key
categories:
- Student experience - functionality that encourages
and increases student engagement. Apps at launch include: Zoom
(live lessons), Lessonspace (visual collaboration), and Motrain
(gamification).
- Scaling - specialized tools to help course creators
scale their business, reach new audiences and increase revenue.
Apps at launch include: Shopify (ecommerce), Typeform (surveys),
DropInBlog (content and search engine optimization).
- Tracking and reporting - analytics that will empower
course creators to understand their students' behaviors,
preferences and needs. Apps at launch include: Segment, Google
Analytics, Mixpanel (data collection and analysis).
- Automation - email automation tools to simplify
backend operations and customer communication. Apps at launch
include: ActiveCampaign, Mailchimp, ConvertKit (email
automation).
Thinkific is incentivizing early developer partners by offering
them 100% of the revenue earned through the sale of their apps for
the first six months. After that period, the Company will offer one
of the industry's most generous revenue share programs, paying
developers 85% of revenue earned through the sale of their
apps.
*USD $350 billion online
education market quoted from the 2019 report published on Research
and Markets titled, Online Education Market & Global Forecast,
by End User, Learning Mode (Self-Paced, Instructor Led),
Technology, Country, Company.
About Thinkific
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/app-store.
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 Company's plans related to the Thinkific App Store,
the expected benefits of the Thinkific App Store, the apps to be
included in the Thinkific App Store and the benefits of such apps,
the Company's investment in the developer community, the Company's
expectations regarding revenue sharing programs with developers,
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 risks related to the performance of
the Thinkific App Store, the use of the Thinkific App Store by
course creators, the utility of the apps included in the Thinkific
App Store and 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.
Media Contact: Josh
Stanbury, Press@thinkific.com; IR Contact:
Janet Craig, IR@thinkific.com
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