A novel type of school designed and sponsored by the minds and finance of remarkably influential Silicon Valley Persons goes through a phase possibly resulting in a close down. The academic ground known as AltSchool which is established for educational software developers and is a network of “micro – schools” located in nine centers in Califonia and New York is closing down a location and restructuring its gigantic plans on expansion citing the latest report in Bloomberg.
The Chief Executive Officer and Founder Max Ventilla of AltSchool said in a statement to Bloomberg that the Startup is to put priority on licensing educational software to schools existing instead of the establishing of new ones.
Mr Max Ventilla who was formerly Google’s head of personalization resigned from his job in Google in 2013 create and establish the AltSchool. This network of micro schools which is headquartered in San Francisco has an enrollment list of between eighty to a hundred and fifty (80-150) students at each location, using technological grounding to tailor its instruction for individual students.
The AltSchool bills a tuition fee of almost thirty thousand (30,000) dollars annually but makes expenditure worth of forty(40) million dollars annually in course of a period of rapid expansion quoting Bloomberg. The Palo Alto location appears to be the first to be closed. “We know this is tough news that will have a big impact on your family,” Ventilla reportedly wrote in an email to parents of children at the Palo Alto school. But the decision is necessary, he wrote, because of AltSchool’s “strategy, path to growth and finances.”
The AltSchool which is supported by Tech giants has generated support funds up to a hundred and seventy (170) million dollars from silicon valley movers in the likes Mark Zuckerberg the Facebook Founder and Chief Executive Officer, Peter Thiel’s Founders Fund and Andressen Horowitz.