How a US University application turned into a multi $M company

Beaton could not have thought that the US university application and admission ideas would turn into a multi-million company. He is now looking into expanding the company to other Asian countries.

Jamie Beaton remembers a conversation he had on a train with the dux of his school. He was in his first year of high school and admired the student as his ‘academic role model.’

The student was doing his final exams and was now focusing on transitioning into universities after he completes exams. The student told Beaton that he was applying to top US universities. This conversation ended up changing Beaton’s life forever.

Mr. Beaton narrated how the student’s enthusiasm and energy motivated him to work hard to also get into a top US university.

Admission to a US university

After extra academic subjects and extracurricular activities, the plan worked. He had applied to universities such as Stanford, Yale, Princeton and Harvard in the US and Oxford and Cambridge in the UK.

He got accepted into all of them after graduating from his high school with an Australian Tertiary Admissions Rank (ATAR) of 99.95. He ended up choosing Harvard universities where he pursued a double-degree in Applied Mathematics-Economics and Applied Math.

This feat turned him into some local celebrity with a lot of students and parents wanting to know how he managed to land in such a prestigious university. Then an idea crossed his mind that he may be able to help these students.

Crimson firm opens doors

In March 2013, he began a tutoring company called Crimson Education with co-founders Sharndre Kushor and Fangzhou Jiang. The news of the new company was spreading by word of mouth and through social media.

Beaton recruited high performing students from his high school and other students who had achieved the same feat. These recruits would be responsible for tutoring the students looking forward to studying in prestigious universities.

What he did not know is that six years later, the company would be worth $260 million after raising $20 million from Hong Kong’s Chow Tai Fook Education Group, Korea’s Solborn Investment and other smaller investors.

Mr. Beaton, who is now 24 years, has indicated plans to expand his reach to other Asian countries. He has stated that he needs to market the company into the Asian market, where he can also help students looking to study abroad.

He also indicated that he is taking life with passion stated,

The best part for me is that every day I get up electrifyingly fired up … there’s an amazing passion behind every day, and even when things aren’t going well, I’m excited.

He also suggested that the trend of students preferring to study in prestigious ivy league international schools was at its infancy. There is room to improve and more markets will open both in New Zealand and Australia. Crimson company is determined to help as many students as possible.

 

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