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We wanted to create a simple, elegant LMS that covers 95% of instructors’ needs, like grading, file management, calendaring, submitting assignments, and emailing with the class," says Joseph Cohen, 20, who left Wharton after his sophomore year when he scored $1 million in seed funding this past June to start Coursekit. "Blackboard covers 100%— that’s why it’s such a cluttered platform.

The Ingenious Business Model Behind Coursekit, A Tumblr For Higher Education