Fondsforvalter Thoma Bravo kontrollerer nå Canvas

I mars 2020 ble en lengre prosess der fondsforvalteren Thoma Bravo  kjøpte opp Instructure (Canvas) ført til ende

Bloggen Phil on EdTech har fulgt prosessen [HTML]

Since the departure of Dan Goldsmith, Instructure has been run by an “Office of the CEO” that included outside advisor Charles Goodman, who previously was Interim CEO of Frontline Education (another Thoma Bravo acquisition – analysis here). With the acquisition complete, Charles Goodman has been named Interim CEO of Instructure

Aksjemarkedet har falt som en stein i USA. Men ikke prisen på Instructure . Forklaringen kan være at covid-19-epidemien understreker betydning av digitalisering av undervisningen.

Where we find ourselves is that the LMS is becoming even more important for educational institutions during this COVID-19 transition to remote learning. We don’t know yet what the new normal will look like, but rest assured that schools will need much better control over contingency planning using online education, and centralized approaches to address student privacy, course organization, ability to address accessibility, and basic administration of the virtual campus. The non-learning stuff that the modern LMS addresses. There will be a great demand to not leave basic e-learning infrastructure decisions up to individual faculty, as schools will need a baseline of online functionality for all courses. This move will have positive and negative impacts, but I would be shocked to see any scenario where the LMS becomes less important

Det nye lederskapet har tonet ned den aggressive tilnætmingen til den nå avgåtte direktøren Dan Goldsmith (som fikk US $12 mill for litt over et års atbeid):

Benson refuted Goldsmith’s descriptions of doubling Instructure’s available market and having tons of prediction-ready data ready to be monetized.

Det skal nå hyres en ny direktør:

In an interview today, Goodman described the CEO search as likely taking three or four months. Ideally they would hire someone with direct EdTech experience, but the chosen executive must have software industry experience at a company with comparable scale and growth as Instructure. In addition, Goodman stressed the importance of finding someone who fits the Instructure culture and aligns with the broader higher education culture. Goodman said there would likely need to be compromises made to find the best candidate, not a perfect candidate.

Men for å vinne tilbake tillit må Instructure restructure

I doubt the company can fully repair the damage to reputation that’s occurred over the past year – it will need to be a new company with new standards.

Med positive unntak for rektorene ved UiO og UiB later utdanningsledere i Norge som om ingenting har hendt. Hvis de i det hele tatt er klar over det. Her burde f.eks.. Khrono vært på ballen.

Det underliggende problemet for UH-sektoren er at Thoma nå har brukt 20 milliarder kroner med forventning om å følge 40%-regelen.

The Rule of 40—the principle that a software company’s combined growth rate and profit margin should exceed 40%—has gained momentum as a high-level gauge of performance for software businesses in recent years, especially in the realms of venture capital and growth equity.[HTML]

Den regelen innebærer altså at investeringen på 20 milliarder skal kaste av seg 20*0.4 = 8 milliarder kroner pr år som så deles i profitt og nyutvikling.

Nå er det pga profitt-potensialet at Canvas ble kjøpt opp. Utviklingsarbeidet er i hovedsak tilbakelagt og kundene låst inne.

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