openPR Logo
Press release

Global Academy Online Creates $50M Hybrid Startup

05-03-2012 10:38 AM CET | Science & Education

Press release from: Global Academy Online, Inc.

/ PR Agency: University Promotion Marketing
Global Academy Online, Inc., a Washington DC based privately held university builder announced today the formation of an international consortium to develop hybrid universities in Vietnam, the Peoples Republic of China, Costa Rica, Canada, and the USA. Each project according to CEO, Dr. Fred DiUlus is valued at approximately $10 million and expected to service approximately 100,000 students within three years.

The mammoth project has been in development since June of 2009 when a single Chinese university project in Zhengzhou City, Henan Province, sought out the Academy to assist in developing education programs in North America and raising $10 million in school expansion funding. Over the next six months, the funding requirement mushroomed to a $97 million funding package when the Academy invited the ancient Shaolin Temple global education project into the mix and added for the university a separate international Mandarin language online school, the first in China.

The super project financing was undertaken by a group of financiers from Michigan, British Columbia, Ohio and New Jersey. After a year of effort to acquire hard assets sufficient to secure a guaranteed standby letter of credit for the Chinese school, the Chinese university requested the Academy to find alternative funding sources. Dr. DiUlus says it was particularly painful and disappointing in view of the fact that the Shaolin Temple, a 1500 year old cultural phenomena and third largest tourist attraction in China entered into the education cooperative agreement for the first time in modern history with North American educators only to be disappointed by western financial funding sources.

To stave off what appeared to be a blockbuster failure, the Academy developed an alternate strategy. In May 2011, financial specialists set about putting a team of investment, accounting and legal experts together. Headed up by long time project management professional, Dr. David Hostelley, a CPA who is a 50 year veteran of forming SEC approved IPO’s, reverse public mergers and private placements, he has moved the Academy close its goal of total project funding.

The Academy’s own first investment in the consortium is expected to be a 10% private placement of the $50million sought followed by funding through the public sector over the following 45 days.

Dr. Fred DiUlus is the author of the annual BEST WORST Online Degree Program Providers rating and ranking of online universities and a pioneer in online higher education. He is also the Director of the non-profit foundation, the Center for Ethics in Free Enterprise, the original developer of Global Academy Online Inc. and a half dozen other education and training organizations.

Global Academy Online, Inc., (known as The Academy), is an international online education university builder.

Developed and created by the Founder and Executive Director of the Center for Ethics in Free Enterprise in 2002 to service colleges and universities worldwide, The Academy has become a premier supplier of global private label online degree programs, curriculum, and instruction. These specialized private academic services are available exclusively to organizations, associations and individuals desiring to create eLearning and distance online education institutions.

To further the public understanding of the value of online higher education, The Academy publishes annually a free eBook, the Best/Worst Online Degree Program Providers, an international guide detailing the world’s best known online degree program providers and how they rate and rank annually against each other. The eBook is the oldest and best known ratings and rankings of online higher education providers.

LaFonda Oliver-Bowen
Sr. VP
Global Academy Online, Inc.
1776 I St. NW, Suite 900
Washington DC 20006

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Academy Online Creates $50M Hybrid Startup here

News-ID: 219759 • Views: 3100

More Releases from Global Academy Online, Inc.

Home Schooling Invades Higher Education
Higher education is changing at a rapid rate. So rapid, in fact, is the change coming, professors from some of the most respected colleges in the world are touting free education online. The opportunity for free learning and college degree preparation on a global scale today is expanding at an unprecedented rate According to Dr. Fred DiUlus, an early pioneer in online higher education and the father of online college
Real Truths of Online Education
Dr. Fred DiUlus, online education systems inventor and Director of the non profit online Center for Ethics in Free Enterprise (CEFE) and the creator of its international university builder, Global Academy Online, recently spoke out on the real truths of online higher education. The forum was the Journal of Online Education. According to research undertaken by the Center for Ethics in Free Enterprise over the past 15 years, 90% of students
Education Pioneer Honored for 50 Years of Service
Education Pioneer Dr. Fred DiUus was recently selected for inclusion in Marquis Who’s Who publications for the 15th consecutive year. Marquis Who’s Who publications are the original and legendary biography books listing outstanding individuals whose lives are singularly notable. Marquis has been doing this for over 100 years. They have set the standard of excellence in recognizing outstanding Americans and world leaders. DiUlus is among 95,000 Americans to be chosen
Global Academy Online’s CEFE Joins President Obama’s Council on Service
Global Academy Online announced today that its non profit Center for Ethics in Free Enterprise (CEFE) has teamed with the White House to become a Certifying Organization for the PRESIDENT’S VOLUNTEER SERVICE AWARD, a national program recognizing Americans who have demonstrated a sustained commitment to volunteer service. Established in 2003 by former President George W. Bush to give Presidential recognition to individuals, families and groups who meet requirements for volunteer

All 5 Releases

More Releases for China

China Attestation
China is a growing Asian country and day by day many people migrate into the country for pursuing their personal needs. But going into China is not an easy task, we have to face some legal steps ahead. Let us define all this legal action in a single word China attestation. China government placed its embassies all over the world for ensuring the trustworthiness of the immigrant’s certificate. There
Energy Drinks in China
ReportsWorldwide has announced the addition of a new report title Energy Drinks in China to its growing collection of premium market research reports. Energy Drinks in China industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Synopsis: Essential resource
Land Right in China
ReportsWorldwide has announced the addition of a new report title Land Right in China to its growing collection of premium market research reports. Land circulation is a very important policy in China, playing a positive role in promoting the development of modern agriculture. And it will be possible for China to transform from household contract and planting by scattered small farmers in the past to large-scale plant, which has a significant
Global Color Steel Tile Market 2017 - South China, East China, Southwest China, …
Color Steel Tile Market Research Report A market study based on the " Color Steel Tile Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Color Steel Tile Market 2017’. The research report analyses the historical as well as present performance of the worldwide Color Steel Tile industry, and makes predictions on the future status of Color Steel Tile market on the basis
Telecom Cloud Billing Services Explore In Regions (South China, East China, Sout …
Big Market Research has added a report, titled, “China Telecom Cloud Billing Services Market Size, Status and Forecast 2022.” The report offers an extensive information and analysis of sales, production, revenue, key manufacturers, drivers & opportunities, and competitive scenario. Moreover, current industry trends and growth prospects are explored along with thorough analysis of each segment for the historic period, 2012–2017 and the forecast period, 2017–2022. The research also offers insights
China Blossom Restaurant & Lounge
China Blossom Restaurant & Lounge Debuts in 2011/2012 Zagat (Greater Boston, MA) – Each year the Zagat Survey shares the opinions of thousands of avid consumers, with real experiences, giving people the power to make smart dining decisions. This year, China Blossom Restaurant & Lounge, located in North Andover, MA, made its debut in the newly-released 2011/2012 Zagat Survey. Released on Wednesday, April 27th, 2011, the famed Zagat survey chronicles