MALIBU, CA -- (Marketwire) -- 07/23/12 -- Veritas Prep, the largest global provider of test prep and admissions consulting services, celebrates a significant milestone this month: its ten year anniversary, the company announced today. Co-founders Chad Troutwine and Markus Moberg officially launched Veritas Prep on July 1, 2002. Troutwine and Moberg met at the Yale School of Management while earning their MBAs and started Veritas Prep after winning several business plan competitions, including Yale's. Over the last decade, the company has grown from a two-person shop to the largest test prep and admissions consulting services provider in the world.
"We created Veritas Prep because prospective MBA applicants were not satisfied with the substandard GMAT courses offered by other providers. Upon its launch, our program offered twice as many classroom hours, three times the number of practice tests and far more rigorous instructor standards, and business surged," said Troutwine, co-founder and CEO of Veritas Prep. "It was clear from the beginning that our GMAT students also wanted our advice on the business school admissions process. Since then, Veritas Prep has become a leader in that space, too."
At its launch, Veritas Prep's flagship classroom GMAT prep course was more comprehensive than others on the market. It was also first of its kind to focus on higher order thinking and be taught exclusively by instructors who scored in the 99th percentile on the GMAT -- many of whom are still Veritas Prep instructors to this day. In response to the unmatched success of Veritas Prep students, other companies have adopted similar features.
"It has been ten years since we first challenged the long-standing duopoly of Kaplan and Princeton Review by creating a higher standard of test preparation for the GMAT," said Moberg, co-founder of Veritas Prep. "The last decade has seen us go from a start-up to a standout with our philosophy to 'think like the test maker' and focus on reasoning and higher order thinking. We stay a step ahead of others in the industry by continuously updating and perfecting our curriculum, products and service offerings."
Veritas Prep was the first company to create online "on demand" (self-paced) GMAT courses and GMAT mobile apps and it is the only company to assemble a team of admissions consultants representing all of the top 20 MBA programs. Veritas Prep offers classroom courses in more than 90 cities worldwide, live online courses, GMAT On Demand programs, mobile modules for the iPad and iPhone and a full suite of admissions consulting services.
Reflecting on the success of the last ten years, Veritas Prep recently noted several lessons learned. For example, the qualities that made Veritas Prep unique at its launch have proven to be a formula that leads to the biggest score increases: (1) the highest instructor standards, (2) more classroom hours and (3) a focus on higher order thinking skills rather than the "content-based" learning promoted by its competitors. And as an organization, an unwavering focus on course improvement and innovation -- even if it means sacrificing short-term profit -- is a winning recipe for long-term health and vitality.
"At Veritas Prep, we're proud to have created a company that is 'built to last,' and we owe much of our success to our ability to attract and motivate people who desire to master their craft," said Troutwine. "Everyone at Veritas Prep is focused on contributing to the most effective and successful test prep company ever created. We look forward to celebrating many more milestones to come."
For more information about Veritas Prep and its services, visit veritasprep.com.
About Veritas Prep
Veritas Prep is the largest global provider of test prep and admissions consulting services, offering industry-leading programs to help applicants improve their test scores and gain admission to the world's best colleges and universities and graduate schools. Founded in 2002 by graduates of the Yale School of Management, Veritas Prep offers its flagship, live GMAT prep course in more than 90 cities worldwide and as an interactive online course available to students everywhere. The company's SAT 2400 course is delivered live online and on demand and features the only zero risk, money back guarantee in the industry. Additionally, Veritas Prep offers admissions consulting services for applicants seeking admission to the most competitive undergraduate institutions and business schools, law schools and medical schools in the world. For more information, visit veritasprep.com.
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