Dev Bootcamp Shutting Down

#1

Post by yaks_hairbrush » Thu, Jul 13, 2017, 3:42 AM UTC

Re: Dev Bootcamp Shutting Down

#2

Post by arikr » Thu, Jul 13, 2017, 4:01 AM UTC

"Hi Andrew, we had actually been working too find a sustainable business model since the very beginning. Ultimately we couldn't find one that didn't sacrifice on our commitment to provide the highest quality program possible while keeping our program open to the most diverse students possible."

What does that mean? It seems like this should've been a profitable business - 3000 graduates @ $10k/piece = $30mm revenue.

Re: Dev Bootcamp Shutting Down

#3

Post by obilgic » Thu, Jul 13, 2017, 4:08 AM UTC

arikr wrote: post #2

"Hi Andrew, we had actually been working too find a sustainable business model since the very beginning. Ultimately we couldn't find one that didn't sacrifice on our commitment to provide the highest quality program possible while keeping our program open to the most diverse students possible." What does that mean? It seems like this should've been a profitable business - 3000 graduates @ $10k/piece = $30mm revenue.

revenue != profitable business

Re: Dev Bootcamp Shutting Down

#4

Post by arikr » Thu, Jul 13, 2017, 4:09 AM UTC

arikr wrote: post #2

"Hi Andrew, we had actually been working too find a sustainable business model since the very beginning. Ultimately we couldn't find one that didn't sacrifice on our commitment to provide the highest quality program possible while keeping our program open to the most diverse students possible." What does that mean? It seems like this should've been a profitable business - 3000 graduates @ $10k/piece = $30mm revenue.

e.g. Financial aid sponsored by dev bootcamp for some students, or even corporate sponsors for financial aid didn't work?

There also seem to be a number of other bootstrapped bootcamps running that are doing fine, so this is confusing.

Re: Dev Bootcamp Shutting Down

#5

Post by booleandilemma » Thu, Jul 13, 2017, 4:10 AM UTC

Does this mean coding is starting to lose its sexiness?

Is the fad over?

Re: Dev Bootcamp Shutting Down

#6

Post by arikr » Thu, Jul 13, 2017, 4:10 AM UTC

obilgic wrote: post #3

arikr wrote: post #2

"Hi Andrew, we had actually been working too find a sustainable business model since the very beginning. Ultimately we couldn't find one that didn't sacrifice on our commitment to provide the highest quality program possible while keeping our program open to the most diverse students possible." What does that mean? It seems like this should've been a profitable business - 3000 graduates @ $10k/piece = $30mm revenue.

revenue != profitable business

Of course.

Though the existence of what seems to be a number of other bootstrapped bootcamps working fine confuses me. Also, pretty sure dev bootcamp was bootstrapped - if they didn't put in outside capital, then either they were profitable from day one or they were running break even. I'd guess they were profitable.

Re: Dev Bootcamp Shutting Down

#7

Post by arikr » Thu, Jul 13, 2017, 4:10 AM UTC

booleandilemma wrote: post #5

Does this mean coding is starting to lose its sexiness? Is the fad over?

No.^1

[1]: https://www.bls.gov/ooh/computer-and-information-technology/...

Re: Dev Bootcamp Shutting Down

#8

Post by smt88 » Thu, Jul 13, 2017, 4:14 AM UTC

booleandilemma wrote: post #5

Does this mean coding is starting to lose its sexiness? Is the fad over?

Possibly, but there certainly is an over-abundance of bootcamp grads, and it's hard to choose among them.

Re: Dev Bootcamp Shutting Down

#9

Post by arikr » Thu, Jul 13, 2017, 4:14 AM UTC

arikr wrote: post #6

obilgic wrote: post #3

Earlier quoted context omitted.

revenue != profitable business

Of course. Though the existence of what seems to be a number of other bootstrapped bootcamps working fine confuses me. Also, pretty sure dev bootcamp was bootstrapped - if they didn't put in outside capital, then either they were profitable from day one or they were running break even. I'd guess they were profitable.

Hm, wikipedia lists 40 staff, and 450 students per year.

Say 40 * $200,000 = $8mm/yr, plus rent. 450 students/yr ~= $6mm.

This back of the envelope would point to them being unprofitable.

Re: Dev Bootcamp Shutting Down

#10

Post by pryelluw » Thu, Jul 13, 2017, 4:16 AM UTC

arikr wrote: post #2

"Hi Andrew, we had actually been working too find a sustainable business model since the very beginning. Ultimately we couldn't find one that didn't sacrifice on our commitment to provide the highest quality program possible while keeping our program open to the most diverse students possible." What does that mean? It seems like this should've been a profitable business - 3000 graduates @ $10k/piece = $30mm revenue.

Over 5 years thats about 6 million per year. Which sounds like a lot but their business model seems to not be cheap to operate. Question is: Why not sell it?