Teachit, a nine-year-old UK web education service that shares revenue with teachers for publishing content they write, has got its first investment of an undisclosed size from one of Google's (NSDQ: GOOG) managing directors, amongst others. John Burke, who is MD for industry development at the search site, is already a board member in another teaching website, TeachersCount.
Teachit MD Garry Pratt said the funds would be used to launch in the US and elsewhere, leveraging Burke's marketing and advertising experience through his joining the board. Pratt told me it's Teachit's first funding, having run at a profit previously without taking investment: "There were a number of other private investors, who are not taking board positions. The founders still control over 80 percent of the company. John's investment is private and he is staying on at his position with Google." More at paidContent:UK
By Robert Andrews