Veritas Prep

Veritas Prep
Test preparation, Admissions consulting
Industry Education
Founded 2002
Headquarters Malibu, California, USA
Key people

Chad Troutwine

Markus Moberg
Number of employees
 400+
Website

Veritas Prep is a privately held test preparation and graduate school admissions consulting company.[1] Veritas Prep operates in more than 100 cities in 22 global countries from its Malibu, California headquarters.[2] The company was founded on the campus of Yale University in 2002 by Yale School of Management graduates Chad Troutwine and Markus Moberg, who worked on the business plan for the company in Professor David Cromwell's entrepreneurial planning class.[3][4] Troutwine currently serves on the Yale School of Management Alumni Association Board of Directors.[5] Veritas Prep emerged after winning business plan competitions sponsored by the Yale Entrepreneurial Society (YES), Active Capital (formerly ACE-NET), Carrot Capital, and Forbes magazine. In 2009, Entrepreneur magazine favorably compared Veritas Prep to Apple and Google.[6]

GMAT Preparation

Veritas Prep offers classroom courses, pre-recorded courses, live online courses, and private tutoring for the GMAT, a standardized test.[6] The Veritas Prep program spans 36 hours and includes twelve different lesson booklets.[6] Since the company’s inception, all Veritas Prep instructors have scored above the 99th percentile on the GMAT.[7]

The GMAT is an analytical examination, requiring little memorization. Consequently, the Veritas Prep pedagogy, Management Based Approach, focuses on learning to think like the test-maker, the Graduate Management Admission Council (GMAC), rather than rote learning.[8]

SAT Preparation and ACT Preparation

In August, 2012, the company introduced an SAT preparation course (called Veritas Prep SAT 2400), available in live online and pre-recorded online formats. Veritas Prep also introduced one-on-one private SAT tutoring, available in person and online. Similar to the company’s approach in the GMAT preparation space, every Veritas Prep SAT instructor has scored in the 99th percentile on the exam. In February, 2014, the company launched its ACT 36 course, also exclusively employing instructors who score in the 99th percentile on that exam.

Admissions Consulting

Veritas Prep also offers graduate school admissions consulting, which consists of strategic planning, essay editing, interview preparation, and other related tasks to help its clients gain entry into business schools, law schools, medical schools, and other graduate schools.[9] Veritas Prep designed its strategic approach from the principles articulated in the book, Your MBA Game Plan.[10] Veritas Prep employs more than 150 admissions consultants, including former admissions officers from top schools.[11]

Company Litigation

Since 2007 Veritas Prep has filed two lawsuits against Maple Leaf International Consulting (MLIC), another provider of test preparation services. In 2007, Veritas Prep sued MLIC over false statements about Veritas Prep on MLIC’s site. The two parties settled, and MLIC agreed to remove the claims from its site. After similar statements started to appear in anonymous online reviews and on various GMAT-related online forums, Veritas Prep again filed suit against MLIC in June, 2010. In April, 2011, the California Superior Court found in favor of Veritas Prep, ordering MLIC to pay Veritas Prep $129,319 in damages. The case has since become a commonly cited example of what businesses should do when a competitor attacks another company through anonymous false claims on the Internet.[12]

References

  1. ↑ "Business School Applicants Have Spoken: Veritas Prep Survey Reveals Applicants Crave School-Specific Admissions Resources to Gain an Edge in the MBA Admissions Process". Education.tmcnet.com. 2010-05-18. Retrieved 2010-06-09.
  2. ↑ "GMAT Test Prep Company Profile Series: Veritas Prep » Clear Admit: MBA Admissions Consultants Blog". Blog.clearadmit.com. 2009-07-20. Retrieved 2010-06-09.
  3. ↑ "Yale School of Management - Alumni Profiles". Mba.yale.edu. Retrieved 2010-06-09.
  4. ↑ "Entrepreneur speaks at SOM". www.yaledailynews.com. Retrieved 2010-11-15.
  5. ↑ "Yale School of Management - Chad Troutwine '02". Mba.yale.edu. Retrieved 2010-06-09.
  6. 1 2 3 Romero, Dennis (2009-02-10). "A Better Way to Prepare". Entrepreneur.com. Retrieved 2010-06-09.
  7. ↑ "Comparing GMAT Test Prep Companies". MBA Podcaster. Retrieved 2010-06-09.
  8. ↑ "GMAT Tip: Think Like the Testmaker, Volume 14". B-School Admissions Formula. 2009-04-04. Retrieved 2010-06-09.
  9. ↑ "Veritas Prep Answers: Who's on This Year's Business School Waitlists? | Education & Training > Academic Admissions from". AllBusiness.com. Retrieved 2010-06-09.
  10. ↑ http://bignews.biz/?id=785170&keys
  11. ↑ "Learn More about Veritas Prep - Interview with Veritas Prep Co-founder Chad Troutwine". Businessmajors.about.com. 2009-10-30. Retrieved 2010-06-09.
  12. ↑ "How to Fight On Online Smear Campaign". Inc. Magazine. 2012-07-03. Retrieved 2012-07-03.
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