Brent Richardson Bio
Brent Richardson, Mr. Richardson’s career began in 1988 when he founded Education Management Group. EMG developed K-12 custom curriculum and instructional materials that enabled teachers to teach the most current academic programs in real-time delivery. Mr. Richardson successfully sold the company for $50 million to Simon and Schuster, a subsidiary of the CBS Corporation and one of the largest publishing companies in the US. At the time of the sale EMG had over 300 employees and provided services to over 3,500 schools. In 1996 Mr. Richardson went on to found an organization named Private Networks. Using his experience and the developing technologies he created digital learning for the healthcare and automotive industries. Private Network experienced rapid growth and was sold in 1998 to a private equity group for $20 million. Mr. Richardson immediately acquired National School Conference Institute. The company provided conferences that attracted educational minded leaders that offered lectures on “Best practices” to educators from around the country. NSCI gave way to create two additional companies. Learning 24/7 and Masters Online, both companies offered customized curriculum and training programs. With this network of companies NSCI and Learning 24/7 was sold for $25 million in 2003 to a private equity group.
In 2004 with all of Mr. Richardson’s experience in the K-12 and higher education sector he invested and became the majority shareholder into a struggling school named Grand Canyon University in Phoenix, AZ. At the time of the investment the University was severely struggling to maintain operations and the quality of academics was diminishing with the declining financial support. The school had approximately 1000 students and annual revenue of $25 million and lost almost $16 million. Given the challenges, all of the investors believed that there was great value in a University with a traditional campus and an online presence. Under Mr. Richardson and his partner’s leadership by 2009 the University had over 27,000 students enrolled, earned revenue of $25 million and revitalized the school into a state of the art campus that today is admired nationally. GCU went public in 2009 and today it continues to thrive with a market value of over $2 billion.