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MyCoolClass Challenges Online Learning Sector with Global Teaching Talent Serving Students

MyCoolClass Challenges Online Learning Sector with Global Teaching Talent Serving Students

LONDON – April 20, 2022 – MyCoolClass, a start-up cooperative of independent teachers and tutors, as well as workers and investor members, today announced its new funding endeavor called community shares. MyCoolClass is a democratized learning platform in the online learning sector that helps teachers with fair payment for their teaching and tutoring services. MyCoolClass is dedicated to fairness and equity for teachers and educators previously exposed to inequitable, traditional employment parameters. The community shares offer is available beginning April 20, 2022, with share opportunities ending on October 15, 2022.

“MyCoolClass is an online learning platform cooperative owned by independent teachers and tutors, workers and investor members,” said the creator and founder of MyCoolClass, John Hayes. “The education sector has been defined by rampant profiteering in which both teachers and students are subject to platform capitalism. We are building an alternative to venture capital-owned giants that are trying to dominate the online learning sector. Since we founded MyCoolClass in 2020, thousands of teachers have expressed support by signing up for our mailing list. They really want to see MyCoolClass succeed.”

Hayes explained, “Platforms live or die by the teachers who teach on them. After years of poor pay and job insecurity, we believe that teachers are ready for something new, better and different. MyCoolClass is undertaking a share issue to raise the funds needed to make the cooperative successful and challenge industry giants in the online learning sector. Community shares is a common fundraising practice in the UK among cooperative societies.”

MyCoolClass features courses for any age group on almost any subject and attracts high-quality global teachers and students. Teachers are especially engaged and dedicated to the learning platform that offers fair compensation. Fair pay for teachers is not easily available when educators sign employment contracts with corporations.

MyCoolClass has an objective of raising a maximum target of £500,000, with a minimum share subscription per person of £100. Interest of 5 percent will be paid annually after one year of membership. The withdrawal of capital is targeted after three years, and UK investors may be entitled to tax relief of up to 50% on their investments.

Community shares is a user-friendly name for withdrawable, non-transferable share capital: a form of equity uniquely available to cooperative and community benefit societies. Since 2012, over £155m has been raised by over 104,203 people in community shares across the UK.

For more information visit https://mycoolclass.com.
To invest, visit https://www.mycoolclass.com/community-shares.

Online learning secor

Teacher-Owned MyCoolClass Cooperative Technology Platform Connects Freelance Educators to Students in 10 Languages Worldwide

Teacher-Owned MyCoolClass Cooperative Technology Platform Connects Freelance Educators to Students in 10 Languages Worldwide

 

LONDON, UK (March 30, 2021) – MyCoolClass, an international teacher-owned cooperative technology platform, announced today a crowdfunding campaign to support the launch of its Learning Management System designed to reduce inequalities in virtual education. More than 900 teachers from 55 countries have pre-registered for the cooperative, created to connect learners with freelance teachers around the world across a variety of languages and subjects. 

 MyCoolClass cooperative members will serve as co-owners with a financial and equal voting stake in the new venture. The digital freelance platform is designed to address problems online teachers face, including low pay, unfair policies, and workplace discrimination. Freelance teachers themselves, MyCoolClass founders John Hayes and Scott Anderson hope to inspire educators to come together and take control of their workplace. Before launching the Learning Management System this summer, MyCoolClass will onboard and train more than 1,000 freelance educators in April and May.

 “Online education platforms serving freelance teaching professionals today use discriminatory hiring practices, including paying teachers differently according to where they live or what passport they have,” said John Hayes, Co-founder of MyCoolClass. “This means a teacher in South Africa or Vietnam can be paid significantly less than a teacher in the US, even though they teach the same courses and have the same qualifications and teaching experience. We built MyCoolClass to give educators the tools they need to take control of their workplace and remove inequalities like these.”

 MyCoolClass freelance platform specifications include:

  • Teachers create their own lessons or courses in any subject, control their schedule and booking, and set their own teaching fees.
  • User-friendly management and student-engagement tools include video chat, screen sharing, file management, and whiteboarding.
  • Available in 10 languages at launch, with more added soon
  • Paid time off: Teachers will accumulate up to seven days annually of paid sick or personal leave.
  • Collaboration tools: Start or join a Creation Team to work with other teachers, develop course materials, and earn royalties when your course is sold.
  • Give back through the free tutoring program for economically disadvantaged students.

 “As an English teacher based in Istanbul, I have always wanted to be part of a community that takes out the middleman, so I’m excited to see how MyCoolClass transforms education,” said Hailey Kay, an American ex-pat and freelance English teacher. “A platform that doesn’t exploit its teachers? Sign me up!”

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