Flex Class is in the process of launching “Edustars” security tokens and has raised $104 million in their pre-STO. They are a company specializing in online education and MBA programs, currently serving some 2 million students.
Flex Class has silently raised some $104 million in a pre-STO that was not available to Americans. Based in India, they offer skill development and online MBA courses to some 2 million people mostly Africa and the Middle East. The company boasts a yearly revenue of over $300 million through their educational services which utilizes an enticing “cash back” offer.
Flex Class is planning on using artificial intelligence to build content for online courses. The claim is that the company can create some “50,000 courses in 30 days.” The model is supposed to be succinct with the ever-changing world with their AI able to change their courses as the changes come without the need for human editors.
It should be noted though that the company is “still in the process of making this technology.” But they have a budget of “$300 million” with the plan to release their whitepaper soon.
“Courses Automatically Updating Themselves”
Flex Class is a strange concept because we still know virtually so little about it. Effectively, the idea is to create a crawling spider which will scour Google and other search engines to compile subject-related information. It will thus automatically automate itself thus creating “courses” for any subject imaginable.
As reported by STO Analysts:
“Flex Class completed its private placement offering under the Regulation S through a online bidding mechanism to enhance its valuation. The whole process of raising $104 million just took 15 minutes before the offering was closed!”
Flex Class is aiming to hold its public STO offering sometime in February and its target is $250 million.
Flex Class is the first security token to tackle the education world, but the compliance questions are still tricky. Although the pre-STO was not available to US investors, the public STO likely will be. However, with the project kept under such tight wraps despite raising a record $104 million during their pre-STO round, it best illustrates that the security token space still has a serious problem with information disclosure nowadays. The lack of detailed information on Flex Class is very concerning, but the offering cannot be ignored given its size. Whether or not it will deliver anything at all is another question entirely.
We can expect more details about this massive, mysterious STO in February.
Is Flex Class full of hot air or a legitimate project? Do you know anything about Flex Class we don’t? Let us know in the comments your thoughts.