Apollo Group

Topics: University, College, Higher education Pages: 4 (1023 words) Published: June 14, 2011
Apollo Group Inc. was launched in 1976. John Sperling came up with the idea that rather than catering to 18-22 year olds he focused on the neglected market of working adults and he recruited working professionals as teachers rather than tenured professors. The University of Phoenix Online has more than 18,000 faculties, only about 450 are full time. Sperling ran his University to make money, despite the critiques from the education establishment. Sperling faced failure everyday for the first 10 years. From an IPO of $0.76 to a mid 2005 high of $98, Apollo stock had risen and was in the top 50 performing companies on Wall Street and with a net income of $414 million and a price-earnings ratio of 76. 15% of the 600,000 U.S. students earning a degree via the Net are enrolled at Phoenix Online. Phoenix Online gets about 1/3 of the industry's revenue. The online trend has moved to many universities. The University of Maryland there are 63,000 enrolled in online classes. Even the Army is getting in on the action. They have an e-learning program which annually there are more than 10,000 soldiers taking classes and earning degrees online from 24 colleges. The Army enrollment soon grew to 80,000. The Army awarded PWC Consulting a $453 million, five year contract to create an electronic university that allows soldiers to be anywhere and study. Also by cutting turnover, eArmyU could almost pay for itself. The use of internet learning is an increasing business. Nearly 75% of the 4,000 major colleges and universities in the U.S. now offer classes over the internet or use the web to enhance campus classes. Roughly 6 million students take online classes from U.S. higher-ed institutions and students from developing countries are jumping online too. E-learning is an influence in the traditional college class as well. Colleges are using the Web in on-campus classes to augment textbooks and boost communication. Venture capitalists pumped some $5 billion into e-learning companies,...
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