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Entrance to Capella Education Corporation headquarters at
225 South Sixth in Minneapolis
Capella Education Company (NASDAQ: CPLA) is an education
services holding
company which owns for-profit, online Capella University and other
assets.
What is now the Capella Education Company was founded in 1991 by Stephen Shank, former CEO of
Tonka Corporation. In 1993, it opened The Graduate School of America
(TGSA). In 1999, the company and
university were renamed to their current, Capella Education Company
and University. In 2003, the Company was named to Inc.
magazine's Inc. 500 Hall of Fame after being named one of America's
500 Fastest-Growing Private Companies for the fifth year in a row.
Prior to going public the company raised more than $67 million from
private investors, including Maveron.
The company announced its intentions to go public with an initial public offering in
April 2005. It reported 2005 earnings of $10.2 million on sales of
nearly $150 million. On November 9, 2006, it completed a public
offering that raised $80 million.
In March 2008, Capella Education Co., longtime occupant the 225 South Sixth skycraper in downtown
Minneapolis, signed a new lease that will change the name of the
building to Capella Tower. The expanded facility will house all of
the company's 1,150 downtown Minneapolis employees Capella; as the
online school does not have classrooms, the space houses
administrative staff and faculty. The name change is scheduled to
take place on March 2009.[2]
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