[10-26-99 06:53 PM ET] [CENTERSPAN iEDUCATE/iCONFERENCE STRATEGIC ALLIANCE PARTNER]1. CENQUESTs BOARD TAPS FORMER VICE CHAIRMAN AND MANAGING PARTNER SALOMON INC/SALOMON BROTHERS AND CURRENT CHAIRMAN OF THE BOARD OF OVERSEERS OF NYUs STERN SCHOOL AND CHAIRMAN OF THE BOARD OF TRUSTEES OF THE INSTITUTE OF INTERNATIONAL EDUCATION...
PROMINENT ECONOMIST HENRY KAUFMAN JOINS CENQUEST?S ADVISORY BOARD
"Cenquest is instrumental in helping universities take full advantage of what the Internet has to offer," says Kaufman
PORTLAND, Oregon ? October 25, 1999 ? "Cenquest, a Portland-based Internet firm offering industry-responsive graduate programs and courses in partnership with top accredited universities, announced today that Dr. Henry Kaufman, a leading international economic and financial consultant, has joined Cenquest?s Advisory Board. In his advisory role, Dr. Kaufman will help direct Cenquest?s academic partnership model and strategy. The Cenquest Advisory Board plays a critical role in linking Cenquest to academic advisors and university leaders.
As chairman of the Board of Overseers of the New York University Stern School and chairman of the Board of Trustees of the Institute of International Education, Dr. Kaufman has a keen interest in how universities respond to the new opportunities that the Internet provides. "The Internet offers a vehicle to ?for-profit? universities to compete for content, professors and students," he said. "Cenquest provides a way for traditional universities to maintain their competitive advantage by using Web technology to educate the best and brightest students. Business schools especially must move quickly to set the highest standard for online educational experiences."
Cenquest offers an integrated solution to accredited universities that enables them to leverage graduate business content into the for-credit and not-for-credit markets. The delivery model specifically addresses busy professionals who lack time for commuting and on-campus coursework, but need relevant post-graduate education to remain competitive and advance their careers.
"Dr. Kaufman?s vision and passion for improving and enhancing educational programs in the U.S. are welcome as we aggressively expand our course offerings through new academic partnerships," said LaVonne Reimer Young, Cenquest president and CEO.
"I am delighted to join the Cenquest Advisory Board to help in the strategy deliberations that will encourage universities to embrace new technologies and that will lead to the offering of business courses to a wider student body," said Dr. Kaufman. "The company?s commitment to quality Internet pedagogy and its strategy to distribute credentialed content globally is unique."
Cenquest, founded in 1997, has been funded by two of the nation?s leading venture capital firms, Sevin Rosen Funds and Hummer Winblad Venture Partners. The venture capital partners provided the first round of financing that closed early last summer.
"Cenquest is not competing with graduate business schools," said Steve Domenik, general partner with Sevin Rosen Funds of Palo Alto, Calif. "The company?s business model provides the best partnership structure for universities that recognize the need to leverage emerging technologies to attract top students. Dr. Kaufman will be instrumental as Cenquest continues to forge partnerships with top universities."
Ann Winblad, co-founding partner of Hummer Winblad Venture Partners of San Francisco, Calif., also validates Cenquest?s model. "No other online learning company has the breadth of solution that we found in Cenquest," she said. "The expertise of the
executive management team, in addition to support from advisors like Dr. Kaufman, have enabled LaVonne and the Cenquest team to quietly develop a company that is sure to lead this emerging space."
About Henry Kaufman
Henry Kaufman is President of Henry Kaufman & Company Inc., a firm established in April 1988 specializing in international and economic and financial consulting and investment management. For the previous 26 years, Dr. Kaufman worked at Salomon Brothers Inc., where he was Managing Director, Member of the Executive Committee, and in charge of the firm's four research departments. He was also a vice chairman of the parent company, Salomon Inc. Before joining Salomon Brothers, Dr. Kaufman served as an economist at the Federal Reserve Bank of New York.
About Sevin Rosen Funds
Founded in 1981, Sevin Rosen Funds (http://www.srfunds.com/) is a leading early stage venture capital firm investing in a broad range of technology-based companies. The firm?s investments include Compaq Computer Corporation, Lotus Development, Cyrix and Ciena.
About Hummer Winblad Venture Funds
Created in 1989, Hummer Winblad Venture Partners (http://www.hummerwinblad.com/) was the first venture capital fund to focus on software. As the software industry grew from PC software to enterprise computing to Internet applications, Hummer Winblad has funded the entrepreneurs and ideas that drove it. Its partners believe that innovative software will increasingly be the core driver of competitive advantage within companies, will underlie valuable services to consumers and corporations, and will change the economics of entire industries, including education. The firm has investments in "dot-com" and software companies, including HomeGrocer.com, Netpoia, Wind River Systems, Hyperion Solutions, Liquid Audio and BusinessTravel.com.
About Cenquest
Cenquest is the leader in high-quality, technology-based learning and strives to set the standard for graduate-level online education. It provides a viable, productive alternative to on-campus study by partnering with leading universities to deliver industry-responsive graduate degrees and courseware to executives and managers leading technology companies. To assist universities in delivering superior online education, Cenquest provides an interdisciplinary team of experts, a proprietary system of course design and integrated teaching models that focus on the way students learn. Founded as Amicus Interactive, the company has developed graduate-level courses on technology commercialization, international management, information management, entrepreneurship, e-commerce, marketing, finance, and operations/product management."
1. Message 9806235
Source: Cenquest Company News Release 25 Oct 1999 cenquest.com
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