DEMO: Supercool School wants to be the Ning of online education

Supercool School is one of 65 companies chosen by VentureBeat to launch at the DEMO Spring 2010 event taking place this week. These companies do pay a fee to present, but our coverage of them remains objective.

Supercool School, which allows anyone to create an online learning environment for which they can charge students, says it has a $450 million dollar total addressable market opportunity in the U.S. alone, with over two million potential customers.

Supercool founder Steli Efti told me what he’s trying to create is the Ning of Education, allowing anyone to build their own educational site.

“We provide a white label platform that allows everyone to create and customize an online school,” he said in an email. “The platform allows for social learning and real-time virtual classrooms and can be turned into a business by monetizing content and courses online.”

Efti’s business model is to take a 20 percent cut of online course sales, as well as selling subscriptions for premium features. He estimates the opportunity at $400 per month per school.

There are more than 100 schools created through Supercool’s beta testing program, which began in January. The San Francisco-based company is angel funded, with less than $100,000 raised so far.

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