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MasterClass

{{short description|American online education company}}

{{Other uses|Master class (disambiguation)}}

{{Use mdy dates|date=October 2018}}

{{Use American English|date=December 2020}}

{{Infobox website

| name = MasterClass

| logo = MasterClass logo 2020 (pink).svg

| founded = {{start date and age|2014|10}} (as Yanka Industries)

| founder = {{ubl|David Rogier|Aaron Rasmussen}}

| type = Private

| industry = Online education

| location = San Francisco, California, U.S.

| area_served =

| key_people = David Rogier (CEO){{cite web | title=MasterClass, the education platform featuring all-star instructors, will soon teach you how to run for office, too – TechCrunch | website=TechCrunch – Startup and Technology News | date=October 3, 2018 | url=https://techcrunch.com/2018/10/03/masterclass-new-offerings/ | access-date=May 23, 2019 | archive-date=May 23, 2019 | archive-url=https://web.archive.org/web/20190523202424/https://techcrunch.com/2018/10/03/masterclass-new-offerings/ | url-status=live }}
Valen Tong (CFO)
David Schriber (CMO){{cite news |last1=Nevins |first1=Jake |title=It's the Year 2120. MasterClass Is the Only School Left. |work=The New York Times |date=May 25, 2020 |url=https://www.nytimes.com/2020/05/25/style/masterclass-secrets.html }}
Len Amato (CCO){{cite web |last1=Goldberg |first1=Lesley |title=Former HBO Exec Len Amato Set as Content Chief at MasterClass |url=https://www.hollywoodreporter.com/tv/tv-news/former-hbo-exec-len-amato-set-as-content-chief-at-masterclass-1235076950/ |website=The Hollywood Reporter |date=18 January 2022}}

| num_employees = 480 (2022)

| website = {{URL|masterclass.com}}

}}

Yanka Industries, Inc., doing business as MasterClass, is an American online education subscription platform on which students can access tutorials and lectures pre-recorded by experts in various fields. The concept for MasterClass was conceived by David Rogier and developed with Aaron Rasmussen.{{Cite news|url=https://techcrunch.com/2016/02/23/masterclass-raises-15-million-for-online-classes-taught-by-celebrities/|title=MasterClass Raises $15 Million For Online Classes Taught By Celebrities|last=Loizos|first=Connie|date=February 23, 2016|work=TechCrunch|access-date=December 27, 2017|archive-date=September 29, 2020|archive-url=https://web.archive.org/web/20200929104515/https://techcrunch.com/2016/02/23/masterclass-raises-15-million-for-online-classes-taught-by-celebrities/|url-status=live}}

History

MasterClass was founded by David Rogier while a student at Stanford University, originally under the name "Yanka Industries".{{cite news|last1=Sahadi|first1=Jeanne|date=January 23, 2020|title=What 12 minutes with a famous CEO can teach you|publisher=CNN Business|url=https://www.cnn.com/2020/01/23/success/masterclass-explained/index.html|access-date=September 24, 2020|archive-date=July 9, 2020|archive-url=https://web.archive.org/web/20200709181718/https://www.cnn.com/2020/01/23/success/masterclass-explained/index.html|url-status=live}}{{cite journal|last1=Chocano|first1=Carina|date=September 2020|title=What Is MasterClass Actually Selling?|url=https://www.theatlantic.com/magazine/archive/2020/09/what-is-masterclass-actually-selling/614200/|journal=The Atlantic|publisher=Emerson Collective|access-date=September 24, 2020|archive-date=September 24, 2020|archive-url=https://web.archive.org/web/20200924192527/https://www.theatlantic.com/magazine/archive/2020/09/what-is-masterclass-actually-selling/614200/|url-status=live}} Rogier, who continues to serve as chief executive officer (CEO),{{cite journal|date=2020|title=40 Under 40: Media and Entertainment: David Rogier|url=https://fortune.com/40-under-40/2020/david-rogier/|journal=Fortune|issn=0015-8259|access-date=September 24, 2020|archive-date=October 22, 2020|archive-url=https://web.archive.org/web/20201022184932/https://fortune.com/40-under-40/2020/david-rogier/|url-status=live}} asked Aaron Rasmussen to join the company as a co-founder and chief technology officer; Rasmussen would also serve as creative director,{{cite news|last1=Ha|first1=Anthony|date=August 13, 2019|title=MasterClass founder launches Outlier, offering online courses for college credit|work=TechCrunch|url=https://techcrunch.com/2019/08/13/outlier-launch/|access-date=December 1, 2020|archive-date=November 27, 2020|archive-url=https://web.archive.org/web/20201127064436/https://techcrunch.com/2019/08/13/outlier-launch/|url-status=live}} before leaving in January 2017. The website launched under the MasterClass name on May 12, 2015.{{cite web|url=https://www.hollywoodreporter.com/news/dustin-hoffman-serena-williams-james-794281|title=Dustin Hoffman, Serena Williams and James Patterson Team for MasterClass Project|last=Gardner|first=Chris|date=May 12, 2015|website=The Hollywood Reporter|access-date=February 17, 2019|archive-date=April 5, 2019|archive-url=https://web.archive.org/web/20190405220920/https://www.hollywoodreporter.com/news/dustin-hoffman-serena-williams-james-794281|url-status=live}}{{cite web|last=Holson|first=Laura|date=September 27, 2015|title=How to Take a Class From Serena Williams and Usher|url=https://www.nytimes.com/2015/09/27/fashion/how-to-take-a-class-from-serena-williams-and-usher.html|access-date=February 17, 2019|work=The New York Times|archive-date=May 14, 2020|archive-url=https://web.archive.org/web/20200514000707/https://www.nytimes.com/2015/09/27/fashion/how-to-take-a-class-from-serena-williams-and-usher.html|url-status=live}}{{cite web|last=Kokalitcheva|first=Kia|date=February 23, 2016|title=Here's How To Learn Acting From Kevin Spacey and Singing from Christina Aguilera|url=http://fortune.com/2016/02/23/masterclass-aguilera-spacey/|access-date=February 17, 2019|website=Fortune|archive-date=March 9, 2019|archive-url=https://web.archive.org/web/20190309003904/http://fortune.com/2016/02/23/masterclass-aguilera-spacey/|url-status=live}}

MasterClass launched in 2015 with three instructors, and twelve classes were added in 2017.{{cite web | last=Spangler | first=Todd | title=David Mamet to Teach Online Drama Writing Course | website=Variety | date=April 20, 2017 | url=https://variety.com/2017/digital/news/david-mamet-online-drama-writing-course-1202391344/ | access-date=February 17, 2019 | archive-date=April 3, 2019 | archive-url=https://web.archive.org/web/20190403054528/https://variety.com/2017/digital/news/david-mamet-online-drama-writing-course-1202391344/ | url-status=live }} In late 2017, an acting class given by Kevin Spacey was removed after multiple sexual assault allegations were publicly made against the actor.{{Cite news|url=https://deadline.com/2017/10/kevin-spacey-masterclass-dropped-from-online-video-hub-1202198664/|title=Kevin Spacey MasterClass Dropped From Online Instructional Video Hub|last=Hayes|first=Dade|date=October 31, 2017|website=Deadline Hollywood|access-date=April 1, 2018|language=en-US|archive-date=April 2, 2018|archive-url=https://web.archive.org/web/20180402101342/http://deadline.com/2017/10/kevin-spacey-masterclass-dropped-from-online-video-hub-1202198664/|url-status=live}} By late 2018 MasterClass had about 50 classes and 1,000 lessons.{{cite news|title=Online Classes to Take If You Want to Make It in the Movie Business|url=https://variety.com/2018/biz/news/masterclass-review-best-online-classes-acting-directing-1202992523/|publisher=Variety|date=October 27, 2018|first=Tim|last=Chan|access-date=May 29, 2019|archive-date=June 14, 2019|archive-url=https://web.archive.org/web/20190614165016/https://variety.com/2018/biz/news/masterclass-review-best-online-classes-acting-directing-1202992523/|url-status=live}} Support for mobile devices was first added in April 2018. MasterClass hired David Schriber as chief marketing officer in June 2019.

MasterClass was started with $4.5 million in initial funding and two seed-funding rounds totaling $1.9 million.{{cite news|last=Spangler|first=Todd|date=February 23, 2016|title=Startup MasterClass Raises $15 Million, Launches Kevin Spacey Acting Tutorial|newspaper=Variety|url=https://variety.com/2016/digital/news/masterclass-15-million-kevin-spacey-christina-aguilera-1201711823/|access-date=May 29, 2019|archive-date=June 5, 2019|archive-url=https://web.archive.org/web/20190605012109/https://variety.com/2016/digital/news/masterclass-15-million-kevin-spacey-christina-aguilera-1201711823/|url-status=live}} This was followed by $15 million in funding announced in 2016, $35 million in 2017,{{cite web|last=Spangler|first=Todd|date=March 28, 2017|title=MasterClass, Purveyor of Celebrity Online Courses, Raises $35 Million Led by IVP|url=https://variety.com/2017/digital/news/masterclass-funding-ivp-1202017530/|access-date=February 17, 2019|website=Variety|archive-date=April 25, 2019|archive-url=https://web.archive.org/web/20190425153534/https://variety.com/2017/digital/news/masterclass-funding-ivp-1202017530/|url-status=live}} and $80 million in 2018.{{cite web|last=Clark|first=Kate|date=September 6, 2018|title=MasterClass raises $80M after doubling sales last year|url=https://techcrunch.com/2018/09/06/masterclass-raises-80m-after-doubling-sales-last-year/|access-date=February 18, 2019|website=TechCrunch|archive-date=August 14, 2021|archive-url=https://web.archive.org/web/20210814082932/https://techcrunch.com/2018/09/06/masterclass-raises-80m-after-doubling-sales-last-year/|url-status=live}} In May 2020, MasterClass raised $100 million in a Series E funding round led by Fidelity Investments,{{cite news|last1=Kellaher|first1=Colin|date=May 20, 2020|title=MasterClass Raises $100 Million in Series E Round Led by Fidelity|work=The Wall Street Journal|url=https://www.wsj.com/articles/masterclass-raises-100-million-in-series-e-round-led-by-fidelity-11590003855|access-date=December 1, 2020|archive-date=June 15, 2020|archive-url=https://web.archive.org/web/20200615053125/https://www.wsj.com/articles/masterclass-raises-100-million-in-series-e-round-led-by-fidelity-11590003855|url-status=live}} bringing total funding to approximately $240 million.{{cite web |url=https://techcrunch.com/2020/09/23/fundraising-lessons-from-david-rogier-of-masterclass/ |title=Fundraising lessons from David Rogier of MasterClass |website=TechCrunch |date=September 23, 2020 |access-date=February 18, 2021 |archive-date=February 28, 2021 |archive-url=https://web.archive.org/web/20210228063754/https://techcrunch.com/2020/09/23/fundraising-lessons-from-david-rogier-of-masterclass/ |url-status=live }}{{subscription required|February 2021}}

In May 2021, the company received $225 million in a Series F round, giving it a $2.75 billion valuation according to CNBC reporting.{{cite news |last1=Bosa |first1=Deirdre |last2=Batchelor |first2=Laura |title=MasterClass more than triples valuation in one year |url=https://www.cnbc.com/2021/05/13/masterclass-more-than-triples-valuation-in-one-year.html |access-date=June 17, 2021 |publisher=CNBC |date=May 13, 2021 |archive-date=June 15, 2021 |archive-url=https://web.archive.org/web/20210615053127/https://www.cnbc.com/2021/05/13/masterclass-more-than-triples-valuation-in-one-year.html |url-status=live }}

In June 2022, the company laid off 20% of its staff, citing the worsening macroeconomic environment.{{cite web |url=https://variety.com/2022/digital/news/masterclass-layoffs-120-employees-1235301209/ |title=MasterClass Lays Off 120 Staffers, About 20% of Its Headcount |last=Spangler |first=Todd |work=Variety |date=June 22, 2022}}

Classes

MasterClass produces online classes with well-known instructors in their field of expertise.{{cite web | title=Serena Williams helping tennis players reach their goals | website=USA TODAY | first=Nick | last=McCarvel | date=May 12, 2015 | url=https://www.usatoday.com/story/sports/tennis/2015/05/12/serena-williams-learn-to-play-tennis-master-class/27162275/ | access-date=February 17, 2019 | archive-date=April 5, 2019 | archive-url=https://web.archive.org/web/20190405222432/https://www.usatoday.com/story/sports/tennis/2015/05/12/serena-williams-learn-to-play-tennis-master-class/27162275/ | url-status=live }} Classes cover topics like writing, sports, and cooking.{{cite web | last=Spangler | first=Todd | title=Ken Burns to Launch Documentary Filmmaking Course Online With MasterClass | website=Variety | date=August 9, 2018 | url=https://variety.com/2018/digital/news/ken-burns-online-class-documentary-filmmaking-1202899810/ | access-date=February 18, 2019 | archive-date=April 25, 2019 | archive-url=https://web.archive.org/web/20190425153530/https://variety.com/2018/digital/news/ken-burns-online-class-documentary-filmmaking-1202899810/ | url-status=live }} As of 2019, the company was expanding into politics, economics, and video game design.{{cite web | last=Rudin | first=David S. | title=MasterClass sells the idea that successful people have something to teach you | website=Vox | date=January 16, 2019 | url=https://www.vox.com/the-goods/2019/1/16/18177077/masterclass-subscription-video-serena-williams-how-to-famous | access-date=February 18, 2019 | archive-date=February 5, 2019 | archive-url=https://web.archive.org/web/20190205021415/https://www.vox.com/the-goods/2019/1/16/18177077/masterclass-subscription-video-serena-williams-how-to-famous | url-status=live }} Many instructors do live demonstrations if the topic is easy to illustrate visually, while writers lecture.

The courses are available through an annual subscription.{{cite web |url=https://www.businessinsider.com/masterclass-review |title=The 15 best online courses on MasterClass, from acting with Samuel L. Jackson to writing with Margaret Atwood |website=Business Insider |date=February 9, 2021 |access-date=February 17, 2021 |archive-date=February 14, 2021 |archive-url=https://web.archive.org/web/20210214204837/https://www.businessinsider.com/masterclass-review |url-status=live }} The classes are typically not interactive, though at least one course included interactive assignments where the student acted with other students, either in person or over Skype.{{Cite news|url=https://deadline.com/2017/04/david-mamet-masterclass-tutorial-playwriting-screenwriting-1202072976/|title=David Mamet Teaches Master Class On Writing For Stage & Screen|last=Fleming|first=Mike Jr|date=April 20, 2017|website=Deadline Hollywood|access-date=December 27, 2017|archive-date=December 24, 2019|archive-url=https://web.archive.org/web/20191224185626/https://deadline.com/2017/04/david-mamet-masterclass-tutorial-playwriting-screenwriting-1202072976/|url-status=live}}{{Cite news|url=https://www.independent.co.uk/arts-entertainment/films/features/dustin-hoffmans-online-acting-class-what-its-like-to-learn-from-the-master-10285753.html|title=Dustin Hoffman's online acting class: What it's like to learn from the master|last=Lusher|first=Adam|date=May 29, 2015|work=The Independent|access-date=December 27, 2017|archive-date=April 13, 2020|archive-url=https://web.archive.org/web/20200413101937/https://www.independent.co.uk/arts-entertainment/films/features/dustin-hoffmans-online-acting-class-what-its-like-to-learn-from-the-master-10285753.html|url-status=live}}

Reception

Reviewers have noted that some of the courses, such as those related to the performing arts, require that students already have some basic proficiency. The courses were also noted for their high production values, and for inspiring students to continue to pursue the subject matter. Exposure to popular celebrities was also reported as a benefit.{{Cite news|url=https://www.hollywoodreporter.com/news/christina-aguileras-masterclass-singing-review-892349|title=Christina Aguilera's MasterClass in Singing Through the Eyes of a Non-Singer|last=Reed|first=Sam|date=May 10, 2016|work=The Hollywood Reporter|access-date=December 27, 2017|archive-date=December 27, 2017|archive-url=https://web.archive.org/web/20171227180344/https://www.hollywoodreporter.com/news/christina-aguileras-masterclass-singing-review-892349|url-status=live}}{{cite news|url=https://www.latimes.com/entertainment/movies/la-et-mn-master-class-steve-martin-kevin-spacey-20170714-story.html|title=In this digital self-help age, just how effective are MasterClass's A-list celebrity workshops?|first=Amy|last=Kaufman|work=Los Angeles Times|date=July 14, 2017|access-date=May 11, 2018|archive-date=May 5, 2018|archive-url=https://web.archive.org/web/20180505162120/http://www.latimes.com/entertainment/movies/la-et-mn-master-class-steve-martin-kevin-spacey-20170714-story.html|url-status=live}}{{Cite news|url=https://au.askmen.com/fine_living/wine_dine_archive/gordon-ramsay-masterclass-review.html|title=Can Gordon Ramsay's MasterClass Make You A Master Chef? We Tried It|last=Osburn|first=Christopher|date=May 29, 2017|work=AskMen|access-date=December 27, 2017|archive-date=December 27, 2017|archive-url=https://web.archive.org/web/20171227180345/https://au.askmen.com/fine_living/wine_dine_archive/gordon-ramsay-masterclass-review.html|url-status=live}}{{Cite news|url=http://www.refinery29.com/2015/08/92007/dustin-hoffman-masterclass-acting-review|title=I Took An Acting Class With Dustin Hoffman — & This Is What Happened|last=Golembewski|first=Vanessa|date=August 10, 2015|access-date=December 27, 2017|publisher=Refinery29|archive-date=December 27, 2017|archive-url=https://web.archive.org/web/20171227235511/http://www.refinery29.com/2015/08/92007/dustin-hoffman-masterclass-acting-review|url-status=live}}{{Cite news|url=http://observer.com/2015/08/an-accomplished-writer-takes-a-master-class-from-a-gargantuan-selling-writer/|title=An Accomplished Writer Takes a 'MasterClass' From a Gargantuan Selling Writer|last=Maynard|first=Joyce|date=August 4, 2015|work=Observer|access-date=December 27, 2017|archive-date=December 27, 2017|archive-url=https://web.archive.org/web/20171227235346/http://observer.com/2015/08/an-accomplished-writer-takes-a-master-class-from-a-gargantuan-selling-writer/|url-status=live}}{{Cite news|url=https://www.vulture.com/2015/12/masterclass-on-art-of-performance-with-usher.html|title=What I Learned From Usher's Online Class on 'the Art of Performance'|last=Zoladz|first=Lindsay|date=December 29, 2015|work=Vulture|access-date=December 27, 2017|archive-date=December 27, 2017|archive-url=https://web.archive.org/web/20171227235306/http://www.vulture.com/2015/12/masterclass-on-art-of-performance-with-usher.html|url-status=live}} The Verge noted that while the subscriptions initially lasted a lifetime, different courses have different replay value. The publication also noted the challenge of keeping students on the site to take additional classes.{{Cite news|url=https://www.theverge.com/2017/5/15/15640354/masterclass-users-werner-herzog-gordon-ramsay|title=Who is MasterClass for? Talking to the people who take online classes with big-name celebs|last=Plaugic|first=Lizzie|date=May 15, 2017|work=The Verge|access-date=December 27, 2017|archive-date=December 27, 2017|archive-url=https://web.archive.org/web/20171227180329/https://www.theverge.com/2017/5/15/15640354/masterclass-users-werner-herzog-gordon-ramsay|url-status=live}}

In 2019, chef Dominique Ansel's MasterClass on French pastries received a James Beard Foundation Broadcast Media Award in the Online Video, Fixed Location and/or Instructional category.{{cite web |title=The 2019 James Beard Media Award Winners |url=https://www.jamesbeard.org/blog/the-2019-james-beard-media-award-winners |publisher=James Beard Foundation |access-date=December 18, 2020 |date=April 26, 2019 |archive-date=October 31, 2020 |archive-url=https://web.archive.org/web/20201031041712/https://www.jamesbeard.org/blog/the-2019-james-beard-media-award-winners |url-status=live }}{{cite web |last1=Canavan |first1=Hillary Dixler |title=Here Is the Full List of 2019 James Beard Foundation Media Award Winners |url=https://www.eater.com/2019/4/26/18513497/james-beard-foundation-awards-2019-media-winners-cookbooks-journalism |website=Eater |date=April 26, 2019 |publisher=Vox Media |access-date=December 18, 2020 |archive-date=November 12, 2020 |archive-url=https://web.archive.org/web/20201112004723/https://www.eater.com/2019/4/26/18513497/james-beard-foundation-awards-2019-media-winners-cookbooks-journalism |url-status=live }}

In 2020, MasterClass won two Webby Awards, for Education & Reference in the Apps, Mobile & Voice category, and for Media Streaming in the Web category.{{cite web |last1=Kastrenakes |first1=Jacob |title=Here are all the winners of the 2020 Webby Awards |url=https://www.theverge.com/2020/5/20/21263445/2020-webby-awards-winners-lil-nas-x-nasa-jon-krasinski |website=The Verge |access-date=22 May 2020 |language=en |date=20 May 2020 |archive-date=May 21, 2020 |archive-url=https://web.archive.org/web/20200521205535/https://www.theverge.com/2020/5/20/21263445/2020-webby-awards-winners-lil-nas-x-nasa-jon-krasinski |url-status=live }}

In 2021, MasterClass again won two Webby Awards, as well as a Webby People's Voice Award.{{cite web|url=https://variety.com/2021/digital/news/variety-webby-awards-best-entertainment-website-1234975035/|title=Variety Wins Webby Award for Best Entertainment Website|author=Antonio Ferme|date=18 May 2021|accessdate=12 July 2021|publisher=Variety|archive-date=May 25, 2021|archive-url=https://web.archive.org/web/20210525204615/https://variety.com/2021/digital/news/variety-webby-awards-best-entertainment-website-1234975035/|url-status=live}}

Notable instructors

Notable past and present instructors include:{{cite journal |last1=Hubbard |first1=Lauren |title=The Best MasterClass Classes to Pick Up a New Skill |journal=Town & Country |date=October 16, 2020 |url=https://www.townandcountrymag.com/leisure/arts-and-culture/g32240187/best-masterclass-classes/ |access-date=March 5, 2021 |archive-date=March 2, 2021 |archive-url=https://web.archive.org/web/20210302045250/https://www.townandcountrymag.com/leisure/arts-and-culture/g32240187/best-masterclass-classes/ |url-status=live }}{{cite journal |last1=Cheslaw |first1=Louis |title=The Best MasterClass Classes, According to People Who've Taken Them |journal=New York |date=October 8, 2020 |url=https://nymag.com/strategist/article/best-masterclass-classes.html |access-date=March 5, 2021 |archive-date=February 19, 2021 |archive-url=https://web.archive.org/web/20210219233828/https://nymag.com/strategist/article/best-masterclass-classes.html |url-status=live }}

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References

{{Reflist}}

External links

  • {{official website}}

Category:American educational websites

Category:Education companies established in 2015

Category:Internet properties established in 2015

Category:Subscription services

Category:Companies based in San Francisco