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For families and students concerned about meeting the rising cost of a quality education, FreeScholarships.com awards money for school through online drawings and auctions that anyone can win. Founded: FreeScholarships.com was founded in 1999 by Chuck Digate, CEO of MathSoft, Inc. MathSoft is the leading provider of the broadest line of technical calculation and analytical software for business and academia. Business Model: FreeScholarships.com gives away various amounts of money for school to students and families through online drawings and auctions. Participants will be able to accrue "schollars™," or points, by playing games, entering contests, completing surveys, shopping in the online store, referring new members to the site or participating in vendor trials for new products and services. Accrued schollars can then be used to bid for scholarships and other products through the site's planned online auction. In addition, participating in activities on the site increases members' chances of winning the scholarship drawings. Eligibility is open to anyone over the age of 13, and members of the site can transfer winnings to children, relatives or friends. Market Opportunity: As Internet-savvy users, students are an opportunity-rich target, as they, in the infancy of their Internet use, are in the process of establishing long-term online brand loyalties. The Internet serves as a means for marketers to appeal to this important market segment. With FreeScholarships.com, students and their families have an incentive to share demographic data. By partnering with FreeScholarships.com, corporations that want a better understanding of this powerful market segment gain greater access. Value Proposition: FreeScholarships.com is a completely new source for funding education that eliminates typical barriers-to-entry for scholarships such as academic performance or economic status. With FreeScholarships.com, parents and students can make choices about schools independent of tuition and fees. The drawings and promotions produced by FreeScholarships.com enable students and families to win money for school as well as computers, books, and related educational products. Winners can also use the money to repay student loans. Additionally, FreeScholarships.com has created a micro-economy whereby parents and students can bid schollars on the site's auction for prizes such as scholarships and computers. Benefits: In addition to the monetary awards, FreeScholarships.com offers a fun environment for researching education-related topics including schools, financial aid, savings and student loan repayment schedules, private-school voucher programs, and career choices. Repeated and frequent visits to FreeScholarships.com earn members additional chances to win money for school and prizes. Senior Management: Chuck Digate, president and CEO Kathy Kessel, vice president of marketing Peter Colli, director of business development Madelyne Cuddeback, Director of Advertising Sales Gary Higginson, director of development Financials: FreeScholarships.com is a privately held company with investments from MathSoft, Inc.
Headquarters: FreeScholarships.com
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