Rosetta Stone Inc. is an education technology software company that develops language, literacy and brain-fitness software. Best known for its language-learning products, in 2013 the company expanded beyond language into education-technology with its acquisitions of Livemocha, Lexia Learning, Fit Brains and Tell Me More.
Video Rosetta Stone (company)
History
According to the company, founder Allen Stoltzfus learned German through immersion while living in Germany and found it relatively easy. In the 1980s, Stoltzfus began learning Russian in a classroom setting, but found the classroom setting much more difficult. He wanted to simulate the German experience, and he decided to use computer technology to create a similar learning experience. He enlisted the aid of his brother-in-law, John Fairfield, who held a PhD in computer science.
By 1992 CD-ROM technology made the project possible. They formed a company known as Fairfield Language Technologies in Harrisonburg, Virginia. Allen and John hired Eugene Stoltzfus (Allen's brother), Greg Keim and Michael Silverman. They released their software product under the title The Rosetta Stone. In 2003 the company announced the hiring of Tom Adams, a businessman with international experience, as President and CEO.
In 2006 the company changed names to Rosetta Stone, Ltd., and converted from an S corporation to a C corporation. Ownership transferred to investment firms ABS Capital Partners and Norwest Equity Partners. On September 23, 2008, Rosetta Stone Inc. filed an Initial public offering with the Securities and Exchange Commission.
On April 15, 2009, the company was listed as the Rosetta Stone on the New York Stock Exchange. Since 2016, the company's president and CEO has been John Hass. Rosetta Stone is transitioning to a cloud-based business model that goes beyond language learning and deeper into education technology. In 2013, it acquired four companies--Vivity Labs Inc (creators of the Fit Brains Trainer), Livemocha, Tell Me More, and Lexia Learning.
On September 17, 2013, Rosetta Stone announced the launch of a new Kids Division and in November, 2014 it debuted its first kids reading program for consumers, Rosetta Stone Kids Reading.
IPO
On April 15, 2009, Rosetta Stone raised $112 million in its initial public offering of stock shares. In its first full day of trading on the New York Stock Exchange, the stock gained 39% from its opening price. After a strong opening, however, the stock stumbled amid reports of weaknesses in Rosetta Stone's US business, resulting in the cancellation of a second offering, and a disappointing year end price just 5 cents off its opening price. The stock trades under ticker symbol RST. As of December 2015, the stock was at approximately $68.20 (USD) per share.
Offices
- Corporate headquarters are in Arlington, Virginia.
- There are also offices in Harrisonburg, Virginia; Boulder, Colorado; Austin, Texas; Seattle, Washington; Boston/Concord, Massachusetts; London, United Kingdom; and Seoul, South Korea.
Maps Rosetta Stone (company)
Endangered language communities
In 2004, Rosetta Stone Ltd. established its Endangered Language Program to contract with endangered language communities interested in custom software development to support language revitalization efforts.
Support for the Combating Online Infringement and Counterfeits Act
Rosetta Stone was among a group of companies signed to a letter supporting Combating Online Infringement and Counterfeits Act (COICA), a bill which opponents argue amounts to censorship.
Awards
- 2014 Tabby Award - Overall Winner and Users' Choice honoree in the Android - Education Category: Rosetta Course®
- 2014 Tabby Award - Users' Choice honoree in the iPad - Education / Adults, Professionals and General Category: Rosetta Course®
- 2014 Tabby Award - Overall Winner and Users' Choice honoree in the iPad - Health & Fitness Category: Fit Brains Trainer(TM)
- 2014 Academics' Choice Smart Media Awards for Rosetta Course® for iOS
- 2014 Academics' Choice Smart Media Awards for Rosetta Stone® Kids Lingo Letter Sounds(TM)
- 2014 Academics' Choice Smart Media Awards for Fit Brains(TM) Trainer
- 2014 Academics' Choice Smart Media Awards for Fit Brains Sparky's Adventures(TM)
- 2014 Academics' Choice Smart Media Awards for Lexia Reading® Core5®
- 2014 Best of Elearning! Award of Excellence for Rosetta Stone TOTALe® PRO for Business solution
- 2014 iKids Awards for Rosetta Stone® Kids Lingo Letter Sounds(TM)
- 2014/2015 eSchool News Reader's Choice Award for Lexia Reading® Core5®pre-K-5 reading program
- 2012 Stevie Silver Award for the Best Use of Technology in Customer Service
- 2012 Stevie Silver Award for the Young Customer Service Professional of the Year
- 2012 Stevie Bronze Award for Customer Service Department of the Year
- 2012 Stevie People's Choice for Favorite Customer Service
- 2010 Eloqua Markies Award in the Marketing and Sales BFF finalist
- 2010 Future 50 Winner
- 2009 Technology CFO of the Year
- 2009 CEO Tom Adams Named Ernst & Young Entrepreneur of the Year
- 2009 CEO, Tom Adams named Ernst & Young 2009 Entrepreneur of the Year - Retail & Consumer Products
- 2009 MT2 Top Training and Simulation Companies
- 2009 Shenandoah Valley Technology Council's High Tech Company Award
- 2009 Stevie Executive of the Year Award
- 2008-2011, Deloitte's Technology Fast Award
References
External links
- Rosetta Stone website
- Rosetta Stone factsheet -- Hoover's
- Rosetta Stone company profile -- Google Finance
- "Rosetta Stone Inc. IPO"
- "Washington SmartCEO Announces 2010 Fast Growth Companies". Retrieved 11 May 2012.
Source of article : Wikipedia
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