Flex Class Holdings Secures $50 Million Funding
The company has filed Form D with the Securities & Exchange Commission (SEC) and is still seeking to raise another US $10 million.
The company is proposing to launch Securities Token Offering (STO) of $100 million in the last week of January, 2019. On the successful closure of the STO, the company will accomplish fund raising of $160 million in total.
The company initially planned an Initial Coin Offering (ICO) but has finally adopted the concept of STO to adhere to the regulations of the SEC.
The stock of the company currently trades on the OTC Premarkets. Post announcement of the successful closure of the funding round, the stock jumped 53% to touch a valuation of $14 billion (INR 100,000 crore). There was heavy volume on the counter, mostly on the buyer side.
Flex Class is raising funds to build a content marketplace to facilitate selling of Massive Open Online Courses (MOOC’s). The company is proposing to purchase large chunk of content and is building resources to reward people who will independently develop content for the company.
“We will patiently wait for the final regulations from the SEC,” said Anurag Vaid, Director of Flex Class Holdings.
The company will launch its STO under the name of Edustars Tokens. The company recently acquired the brand name for $10 million in a mix of both cash and equity.
A pioneer in online education for professionals, we create course programs, exams, and lab projects that help professionals across the world successfully prepare for and complete certification exams with ease. Our unique blended model of training brings together the best of self-learning and online training, making for a successful learning experience.
We strive to constantly improve our learning frameworks to make them more user-friendly.
Our courses are upgraded continuously to ensure our learners are up-to-date on the latest industry requirements and best practices.
We assist our learners in applying for the certification exam of their choice, and our vibrant community of experts and certified professionals is a powerful resource pool of tips, tricks, and insightful advice.
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