 |
||
|
|
||
| |||||||||||
The quest for the Leaning Company The Learning Company, which makes popular software products such as Myst, Sesame Street, Dr. Suess, Reader Rabbit, and the Oregon Trail line, grew out of SoftKey Software. SoftKey was formed in 1994 through the marriage of SoftKey Software, Spinnaker Software, and WordStar International. The three software companies formed a powerful triumvirate that benefited from alliances with PC vendors, a diverse product line, and well established North American and international retail and distribution networks. Michael Perik, the CEO of SoftKey Software, was tapped to lead the new firm, which went public that first year. SoftKey then introduced its reasonably priced Platinum product line, which was the first consumer software to be sold in jewel case packaging and displayed near cash registers for impulse buyers. SoftKey took an aggressive approach to expansion and embarked on a four-year shopping rampage. In 1995, Softkey made a lot of noise in its bidding war over the small educational software company then called The Learning Company. Softkey and Broderbund Software (the maker of the blockbuster game Myst and the Carmen Sandiego series) fought over Learning; SoftKey eventually managed to capture the company for $606 million in cash, and then took the Learning Company name. Shop 'til you drop Between 1994 and 1998 The Learning Company accrued 14 companies and more than 500 software titles. Often criticized for making buyouts at a premium, the firm also managed to amass a mountain of debt. Most recently, it purchased Mindscape Inc. (publisher of Princeton Review: Inside the SAT and ACT) in March 1998 for $150 million. And, in June 1998, it agreed to buy former rival Broderbund for $416 million. In September 1998, the company announced a restructuring which will include the elimination of 500 jobs and a charge of $15 million. Later that year, the company announced that it would be acquired by toymaker giant Mattel. Caveat Emptor Mattel's acquisition was completed in May 1999. The Learning Company remained as a brand, and became a division of Mattel Interactive. It was never fully integrated into Mattel, and operated as a seperate software company with its own development, sales, and marketing teams. The remainder of 1999 seemed to be going well, as the Learning Company developed and released new software based on Scooby-Doo and Arthur, star of a children's cartoon. The Learning Company went on to an acquisition of its own, of the internet greeting card company 3DGreetings.com, which joined the company's popular web sites Printshop.com, genealogy.com, Broderbund.com, and FamilyTreeMaker.com. The Learning Company ranked in the top 50 companies in internet traffic. Yet it soon became clear that buying the Learning Company was a bad move, as the high returns of Learning Company products from distributors and $50 million write-off of bad debts led to $206 million in losses in 1999 and the resignation of Mattel's chairman and CEO. The acqusition also subjected Mattel to a lawsuit filed by stockholders for witholding material facts before the shareholder vote approving the acquisition. Mattel put the Learning Company up for sale in April 2000.
The Learning Company posts job listings in the "jobs" section of Mattel Interactive's website, located at http://www.mattelinteractive.com. Resumes and cover letters (or further inquiries) may be e-mailed to resumes@learningco.com.
The creativity company TLC insiders give the company "a top rating." Most have had "an interesting and invaluable experience" and say "it's fun to be a part of a company with such a creative culture." "I have worked here for more than 8 years," says one source, "so either it is a good place to work or I am an idiot." The environment is "professional but relaxed," and there is no dress code for engineers and programmers, since "we are a creative bunch of people and management does nothing to stifle us." Says one insider in the company's Minneapolis location: "The culture here is a very creative one, and fun to be a part of." Those in corporate areas dress a bit more formally. "Marketing tends to lean toward business casual while research and development leans more toward the casual side." As for diversity, one insider notes that are "everything from traditional Catholics, Jews - and even agnostics." Hours can get ugly Employees find salaries to be "competitive," and benefits are "great." The company provides "a stock option plan and a 401(k)." In addition, the company is "very sensitive to the needs of its employees." Our contacts say "hours are flexible, but at the last big push to get a product out," things can get a little crazy. One source even notes that "you can work up to 48 hours straight if you are the lead engineer on the project."
Human Resources
Adobe;Cendant;Cordant;Encyclopedia Brittanica;Intuit;Microsoft;Sony More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
