TeachStreet Launches Payments Platform For Teachers

Seattle’s TeachStreet has launched a new marketplace feature for teachers to be able to coordinate payments from students.

TeachStreet is a user-driven social networking and class review website, designed to help bring students and teachers together. They’ve created a community where anyone who loves to learn can find a class that’s perfect for them, and where teachers of all subjects, from academia to pure silliness, can market themselves to potential clients.

Now TeachStreet’s new PayPal powered TeachStreet Payments feature makes it easy for teachers to get paid by students with minimal fees and hassle.

Teacher payments are assessed fees that have been designed to be fair and competitive with other alternatives on the market, while covering the costs related to processing payments and lead generation.

In May TeachStreet Founder & CEO Dave Schappell announced at WTIA’s Fast Pitch Forum that they had raised an additional $1.2 Million round of financing from existing investors and management team. TeachStreet rasied a $2.2 Million Series A round in February 2008 that included Madrona Venture Group, Bezos Expeditions and a group of Seattle Angel Investors.

According to Schappell, TeachStreet includes the best features of Yelp with the monetization tools of Open Table and considers School of Everything his main competition.