The Khan Academy is fast becoming one of the largest schools in the World , with users reaching past 10 million.
This non-profit educational organization and website was founded by 36 year Bangladeshi-American Salman Khan , who holds multiple degrees from MIT and Harvard.
Their mission is to provide “free World class Education for everyone, everywhere”. The funding comes from philanthropists.
The website hosts a free online collection of more than 3500 online videos and boasts of having delivered 206,847,447 lessons via video tutorials on Youtube that teach Math,chemistry, economics,cosmology, health , history,biology, finance, astronomy,physics, organic chemistry, civics, art history,microeconomics, macroeconomics, and computer science.
The history of Khan Academy may be dated back to late 2004, when Khan began tutoring his cousin Nadia in mathematics using Yahoo!’s Doodle notepad. When other friends and family also began to seek help, he decided to use a more practical approach and distribute the tutorials on YouTube. Their immense popularity prompted Khan to quit his job as a hedge fund analyst at Connective Capital Management in 2009, and give his full time focus on the tutorials.
The company now has 37 employees, mostly software developers that previously worked at places like Google and Facebook .
Reports from the President’s Council of Economic Advisers, state that global spending on education is $3.9 trillion; roughly 5.6% of planetary GDP.Of this the USA spends the most–nearly $1.3 trillion a year– yet , 23% of American 15-year-olds can’t use math in daily life and a fifth do not have basic competence in science.
Russian physicist Yuri Milner , one of Khan’s many admirers ,calls him “the world’s first superstar teacher,”and he is only one of Khan’s many admirers.
Khan feels that Innovation in Education is being shaped at this precise moment . This gives immense opportunities to nonprofit organisations like the Khan Academy.
Salman Khan talk at TED 2011 (from ted.com)