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Thursday: March 10, 2005 |
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Capella University Capella University Named to Inc. 500 List of Fastest-Growing Privately Held Companies Minneapolis-Based Online University Grows by 1,391 Percent Minneapolis, October 18, 2001 - Capella University today was named to the Inc. 500 list of fastest-growing private companies for the third year in a row. The university's ranking came in at number 205. Capella University is the first university ever named to the list. "We are honored to be included in the Inc. 500 list," said Steve Shank, president and CEO of Capella University. "With the state of today's economy, more people are going back to school to develop and expand their skills. Capella's online learning program provides access to a quality education for adult learners who would otherwise find it very difficult to balance their education with other work and life commitments. Our learners have the opportunity to learn what they want, when they want and where they want." Founded in 1993, Capella University is an accredited online university that offers courses, certificates and degree programs to more than 3,700 enrolled learners located in all 50 states and in 40 countries. Through its Web-based campus, www.capellauniversity.edu, Capella University offers graduate degrees, certificates and continuing education in five areas of study: business, technology, education, human services and psychology. It also offers undergraduate degrees in business and technology. Those degrees are part of Capella's 80 degree programs and specialties, an offering that includes more than 500 courses online. "We're responding to new trends as the online learning segment continues its aggressive growth," said Shank. "One of those trends is in the corporate market. Companies have come to realize that they are spending millions of dollars in tuition reimbursement funds to educate their employees. While these programs are a great way to retain employees, companies don't get any immediate benefit from the spending, and employees often leave their companies once they receive their degrees." Many of these companies are turning to Capella to offer degree e-learning programs that unite their employees who are scattered across the globe, Shank said. Employees work on company projects as part of their class projects and can immediately apply what they've learned on the job. For example, when Honeywell training executives found that employees were bypassing advanced degrees because they couldn't make it to a traditional classroom, the company partnered with Capella to design an MBA program specifically for Honeywell learners. Course content was tailored to Honeywell's specific business issues and challenges. Today, 14 employees are preparing to graduate, and Honeywell calculates that students in the program generated operational savings of more than $1.2 million during just the first six months studying for their MBAs. Over the five-year period ending in 2000, Capella University's revenues increased by more than 1,391 percent, going from $1,066,000 in 1996 to $15,894,000 in 2000. Published by Inc. magazine, the Inc. 500 is an annual report on the fastest-growing private companies in the nation. Former Inc. 500 companies that have gone on to become household names include Microsoft, Timberland, Domino's Pizza and Patagonia. This year's Inc. 500 set records in terms of both collective sales and growth rates, racking up a collective total of $12.5 billion in sales and an average five-year growth rate of almost 2,000 percent. To be eligible for this year's Inc. 500, companies had to be independent and privately held through 2000, have had at least $200,000 in sales in the base year of 1996, and their 2000 sales had to have exceeded 1999 sales. The ranking is based solely on the percentage increase in sales from 1996 to 2000. Capella University is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools. Capella University Capella University (www.capellauniversity.edu) is an accredited university that offers courses, certificates and degree programs in business, technology, education, human services and psychology. Through its online campus Capella University teaches more than 3,700 students throughout the U.S. and in 40 countries. Capella University is affiliated with the for-profit Capella Education Company, headquartered in Minneapolis. For more information visit Capella University at http://www.capellauniversity.edu or call 888.CAPELLA. |