Hobsons acquires simple blog that evolved into full service social network, Beat the GMAT
Hobsons has announced the acquisition of Beat The GMAT (BTG), the world’s largest social network for MBA applicants, serving over 2 million business school aspirants each year.
With visitors from more than 210 countries, BTG evolved from a simple blog to the premier full-service social network for the MBA ecosystem. Its MBA Watch property enables prospective students to connect with each other, current students, and business school administrators.
“Online communities have become the go-to resource for learners seeking an undergraduate or graduate program,” noted Craig Heldman, chief executive officer of Hobsons, Inc. “This acquisition adds greater breadth and depth to Hobsons’ existing digital presence, helping to grow and strengthen our network of informative online communities and corresponding technologies. Ultimately, this investment gives prospective students and education institutions the tools and information they need in one place to make mutually beneficial connections.”
BTG, the premier destination for GMAT and MBA information, joins Hobsons’ existing online community portfolio, which includes College Confidential®. This leading online community serves more than 30 million annual users, including students, parents, and counselors. The acquisition also complements Hobsons’ existing MBA program client base: more than 100 business schools already rely on one or more Hobsons technology solutions.
Eric Bahn, founder of BTG, notes “Applying to graduate school can be an isolated, and isolating, experience. We created BTG as an online community where applicants can interact with each other about the process.”
Business schools use MBA Watch to interact directly with applicants, showcasing the unique aspects of their school beyond the conventional website information and brochures. MBA Watch has introduced many groundbreaking technologies to the industry – including real-time applicant stats and reporting, social chatting and events, and application/essay advice.
Bahn and the BTG team will join Hobsons to employ the latest technologies and methodologies for building online communities including gamification, crowd sourcing of content, and user-generated data for current products. In the future, Hobsons will also look for ways to leverage applicant and behavioral data to inform applicants and institutions through the entire application cycle.
Terms of the transaction, which was finalized on October 9, 2012, were not disclosed.