| An SI Board Since December 1999 |
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LSPN |
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The Lightspan Partnership is a leading provider of curriculum-based educational software and Internet products and services used both in school and at home. Our technology, delivery systems and content help increase student interest in learning, parental involvement in their children's education, and productive interaction among teachers, parents and students.
Over 340 studies by schools that use our products and services show that our products improve overall student performance. Lightspan Achieve Now, our product for students in kindergarten through eighth grade, or K-8, is a series of media-rich, interactive software programs that covers the core curriculum -- language arts, reading and math. We sell it exclusively to schools and school districts for use in both the classroom and at home. The Lightspan Achieve Now curriculum has already been purchased by over 400 school districts in 46 states and implemented in over 2,100 schools and 10,600 classrooms.
Our Academic Systems products provide a series of curriculum-based software that addresses the math and writing needs of under- prepared college students. These products are currently used in over 225 colleges and universities across the United States. The need to improve student achievement is a top priority in American education, and educators are increasingly using educational technology to help accomplish this objective. According to the Department of Education, the United States spent an estimated $351 billion on kindergarten through twelfth grade, or K-12, education in the 1997 - 1998 school year, and industry sources project that spending on educational technology will increase from an estimated $7 billion during 1998 - 1999 to approximately $10 billion by the 2001 - 2002 school year. This growth has created a significant market opportunity for educational technology providers whose products and services help educators provide students with the tools they need to improve achievement. By increasing students' time spent on the core curriculum, their motivation to learn, and their families' involvement with their learning, our curriculum-based educational software and Internet products and services provide a unique and powerful solution for improving student achievement.
Our objective is to become the premier online education destination for teachers, parents and students, as well as the leading provider of technology-delivered, curriculum-based supplemental study materials in kindergarten through college education.
We were founded in 1993 on the philosophy of using technology to increase student achievement by connecting the school to the home. Through June 1996, our activities consisted primarily of designing and developing Lightspan Achieve Now. To supplement our product offerings, we introduced The Lightspan Network in January 1997 and launched Lightspan PageOne in June 1999. We acquired Academic Systems and Global Schoolhouse in September 1999 and StudyWeb in October 1999. Our principal executive offices are located at 10140 Campus Point Drive, San Diego, CA 92121, where our telephone number is (858) 824-8000. We maintain Web sites at lightspan.com and academic.com.
Some key investors in LSPN: Kleiner, Perkins, Caufield & Byers, Microsoft, Liberty Digital, and Comcast Cable.
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