????這類公司第二類最常見的問題在于進入市場的策略。納派克發問道：“它們的問題確實是和錢有關嗎？有時，由于聯邦政府發布了某個法令，于是，學校和各家公司簽署了合同。但后來情況發生改變，結果這些公司就失去了收入來源。”

????納派克曾預言，現在蜂擁投向教育類初創企業的風投會大浪淘沙，但說這次情況又有所不同。他說：“教育科技公司領域也遵循達爾文法則，適者生存。但這不會是教育科技的最后一個泡沫。我們確實能從這個泡沫中篩選出一些真正的公司來。”

????眼下還不清楚他所說的“真正的公司”是不是指那些已經成功募資的企業。去年秋天，一些募得大筆投資的初創企業暴露出種種短板，讓行業觀察人士紛紛質疑，這個泡沫是不是已經破裂了。比如，據奧姆?馬利克稱，先后從安德森?霍洛維茨基金、First Round Capital、Floodgate和其他風投募得一億美元的Kno公司，最后只以1500萬美元的價格賣給了英特爾公司（Intel）。還有曾募得2660萬美元的Altius教育公司（Altius Education），最后卻以人才并購的方式賣給了一家營銷公司。還有曾獲得基準資本公司（Benchmark）和GSV Capital 公司4470萬美元投資的Grockit公司，在偏離了初期戰略后，最后將核心資產賣給了開普蘭公司（Kaplan）。教輔初創企業Tutorspree去年也已經關門大吉。

????而其他公司在免費提供主打產品時才剛開始考慮怎么賺錢，這就是所謂的免費增值商業模式。已募得8500萬美元的Coursera公司已經開始嘗試向借助它的平臺完成免費課程的學生們兜售證書。而獲得安德森?霍洛維茨基金2000萬美元投資的Udacity公司正在嘗試贊助一些課程，同時把學員介紹給匹配的雇主們。獲得來自創始人基金公司（Founders Fund）、培生集團（Pearson）、Accel Partners、Bessemer Venture Partners和FirstMark Capital等公司5400萬美元投資的Knewton公司也采用了免費增值模式，主要通過授權費以及為各大學提供專享平臺來賺錢。而獲得恩頤投資（NEA）、合廣投資（Union Square Ventures）、Greylock Partners和基準資本等公司4000萬美元投資的Edmodo不向使用它平臺的教師收錢，而是向他們兜售各種應用。

????這些資金充沛的公司可不是什么“FNAC”小公司。它們打算通過免費或在線授課的方式徹底改變教育的某些方面。這種策略唯一的問題在于，它和提供那些乏味跟風的代數應用一樣充滿風險。只不過，它們拿來下賭注的錢要多得多。（財富中文網）

????譯者：清遠

????

????The second-most common mistake is with a startup's go-to-market strategy. "Is their problem actually attached to a pocket of money?" Napack asked. "Occasionally [a deal] happens by Federal caveat, and then that changes, and then the companies don't have a source of revenue anymore."

????Napack predicted a shakeout to the venture investment flooding education startups, but said things are different this time around. "There's a Darwinian thing that happens in ed-tech. It's survival of the fittest," he said. "But this isn't going to be like the last ed-tech bubble. We're actually going to get some real companies out of this one."

????It's unclear if "real companies" will be the ones which have raised the most money. Last fall, the shortcomings of some well-funded startups had industry observers asking whether the bubble has already popped: Kno, which had raised almost $100 million from Andreessen Horowitz, First Round Capital, Floodgate, and others, sold to Intel (INTC) for just $15 million, reported Om Malik. Then Altius Education, which had raised $26.6 million, sold in an acqui-hire deal to a marketing company. And Grockit, backed by $44.7 million from Benchmark and GSV Capital, pivoted away from its initial strategy, selling its core assets to Kaplan. Tutoring startup Tutorspree also shut down last year.

????Others are only beginning to figure out monetization while offering their main product for free, the so-called freemium business model. Coursera, which raised $85 million in venture backing, has experimented with selling certifications to students who complete free courses on the platform. Udacity, backed by $20 million from Andreessen Horowitz, is experimenting with sponsored courses and matching students with employers. Knewton, backed by $54 million from Founders Fund, Pearson (PSO), Accel Partners, Bessemer Venture Partners, and FirstMark Capital, is also going freemium, earning revenue with licensing fees and a premium platform for universities. Edmodo, backed by $40 million from NEA, Union Square Ventures, Greylock Partners, and Benchmark, doesn't charge teachers to use its platform, but instead sells them apps.

????These well-funded companies aren't "FNAC" startups. They're trying to completely transform some aspect of education by making it free or accessible online. The only problem with that strategy is that it's just as risky as offering a boring, derivative algebra app. Except here, there's a lot more money at stake.