EntrePort-Dearborn Deal Creates
Major Online Force in RE Education
The online market for real estate-related education just got a little bigger, owing to San Diego-based EntrePort Corp.'s (www.entreport.com) recently formed major alliance with Chicago-based Dearborn Financial Publishing (www.dearborn.com). The deal provides for EntrePort to be the exclusive provider for online continuing education at EntrePort's Web site portal, iSucceed.com.
EntrePort officials said that they anticipate that the Dearborn Publishing deal will make iSucceed.com, a wholly owned EntrePort subsidiary, North America's largest online provider of training and continuing education for real estate professionals.
EntrePort Corp. and Dearborn Publishing are also currently developing a joint marketing effort to promote the iSucceed.com Web site to targeted real estate professionals in both the U.S. and Canada, officials at both firms commented.
Dearborn, a Kaplan Professional Co. that's owned by the Washington Post, is the nation's largest publisher of license training, continuing education and professional development for the real estate, appraisal and home inspection industries.
In addition, Dearborn owns and operates real estate schools that include Anthony Schools in California, George Leonard School of Real Estate in Texas, Dearborn Real Estate Institute in New Mexico, and Jones College in Colorado.
Each year, 500,000-plus real estate professionals take continuing education courses, according to EntrePort statistics. Increasingly, though, those real estate professionals don't have to head to the classroom for that learning; in fact, many don't even have to leave home. In 30 states, according to EntrePort statistics, real estate professionals can now get that education via online "distance learning."
With the new link between iSucceed.com and Dearborn's recampus.com, iSucceed.com's real estate membership will have access to Dearborn's courses at no additional charge, said officials from both companies.
Commented Carol Luitjens, Dearborn Publishing vice president and general manager, "Agents and brokers will have the convenience of satisfying state requirements for continuing education from their home or office 24 hours a day, seven days a week."
Dearborn has considerable reach in its niche of the real estate industry. The company currently provides 70 percent of pre-licensees with their real estate training materials.
Commented EntrePort CEO Bill Shue, "With access to Dearborn's computer-based, online continuing education courses, iSucceed.com members will see even greater value in their membership." EntrePort anticipates that the continuing education courses for real estate professionals will be added in April on the iSucceed.com training portal, which recently launched.
In a related development, Entreport simultaneously announced that it had completed a private placement of its common shares to institutions and accredited investors. The placement resulted in gross proceeds of approximately US$10 million, company officials say. The investment banker firm of Roth Capital Partners led the placement, they added.
The placement's proceeds, said company officials, will be utilized to aggressively launch, promote and market EntrePort's vertical Internet business-to-business portals.
Commenting on the capital raise, Entreport Chairman, David D'Arcangelo noted, "EntrePort continues to make outstanding strides and gain momentum in all facets of our business. Achieving this round of financing also positions Entreport to apply for a listing of our common stock on the NASDAQ stock exchange."
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