PrepMe was founded by three college students. Karan Goel, CEO, is a University of Chicago MBA grad. Avichal Garg, the chief technical officer, holds degrees from Stanford in computer science and management and is also a product manager at Google. Joe Jewell, who heads up curriculum development and content creation, got his degree in Aeronautical Engineering at Caltech with an M.S. in Aeronautical Engineering at the University of Michigan and is finishing a Rhodes Scholarship at Oxford. The three also won the University of Chicago New Venture Challenge, a business plan contest, in May, 2005.

PrepMe uses adaptive learning technology to provide students with a customized test preparation course specifically targeting individual strengths and weaknesses. Students are also provided with one-on-one online tutoring and essay coaching from current students at Stanford and the University of Chicago.

On February 1, 2007, Maine governor John Baldacci announced that for three years PrepMe planned to let every junior in Maine use its online SAT preparation program without cost to themselves, their school or the state.

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