Jamie Beaton
Jamie Beaton | |
|---|---|
| Born | 1995 or 1996 (age 29–30)[1] Auckland, New Zealand |
| Alma mater | |
| Occupation | Entrepreneur |
| Years active | 2013–present |
| Title | Co-founder and CEO of Crimson Education |
Jamie Beaton (born 1995/1996) is a New Zealand entrepreneur who founded Crimson Education.
In 2016, he graduated from Harvard University with a master's degree in applied mathematics. In 2022, a venture capital fund valued Crimson Education at US$550 million.
Early life and education
Jamie Beaton was born and raised in Auckland. His parents were property managers.[2] He attended King's College, Auckland on an academic scholarship.[1][2][3][4] Beaton graduated with a bachelor's degree and master's degree in applied mathematics from Harvard University in 2016 after three years of study.[2][5] He also has two degrees from Stanford University and a master's degree in global affairs from Tsinghua University in Beijing.[6] In 2023, he received his Juris Doctor from Yale Law School.[7][6][8]
Business
In 2013, Beaton founded Crimson Education, a university and college admission preparation company, with Fangzhou Jiang and Sharndre Kushor.[7][6][9][10] The business attracted investments of approximately NZ$1.4 million. Hedge fund managers Julian Robertson and Chase Coleman, as well as Alex Robertson and Soichiro Fukutake were the primary initial investors.[1] Customers of Crimson Education have reported paying thousands of dollars for tutoring services when attempting to gain entry to an Ivy League school.[1]
As of 2022, the business had 630 full-time staff and more than 3,000 tutors and mentors.[6] In the same year a capital raise by a venture capital fund valued the company at US$550 million.[7][11] In 2024, the company was valued at $1 billion after a Series D funding.[12]
Lawsuits
In 2017, Crimson Education was involved in a breach of contract litigation with a former employee. The matter was eventually subject to a confidential settlement.[13] In 2018, the University of Auckland filed a suit against a Crimson Education subsidiary, alleging breach of copyright. The suit was eventually settled.[13]
In January 2021 it was reported that a $10-million High Court lawsuit had been filed by a competitor of Crimson involving allegations of employee poaching.[13] Beaton had also filed a civil assault claim against the owner of that competitor.[13] Crimson Education chose not to comment on the assault claim filed by Beaton. Crimson stated it was not unusual for companies like Crimson to "experience some commercial litigation".[13] In May 2022, media reported that the parties reached a confidential settlement.[14][15]
Personal life and politics
Beaton was in a relationship with Crimson Education co-founder Sharndre Kushor. Beaton and Kushor met during their secondary education at a Model United Nations conference.[2][4] As of 2022 they were no longer in a relationship.[7]
Beaton sat on the review panel of the centre-right New Zealand National Party election campaign after the party lost the 2020 election.[16][13]
In 2025 Beaton was listed in 112th place on the NBR Rich List, with an estimated net worth of $220 million.
References
- ^ a b c d Nippert, Matt (4 February 2016). "Meet Jamie Beaton, the 20 year-old worth $40 million". The New Zealand Herald. Archived from the original on 9 January 2023. Retrieved 9 January 2023.
- ^ a b c d Olds, Jeremy (4 February 2016). "Business boy wonder Jamie Beaton: Vision transcends age". Stuff. Archived from the original on 9 January 2023. Retrieved 9 January 2023.
- ^ Morgan, Edward (22 February 2022). "How to be accepted into a top US uni, by somebody who has done it". The Australian. Archived from the original on 10 January 2023. Retrieved 10 January 2023.
- ^ a b Stanton, Kate (17 September 2018). "'People thought we were interns but we were in charge'". BBC. Archived from the original on 17 January 2023. Retrieved 17 January 2023.
- ^ Patten, Sally (13 September 2022). "Meet the 27-year-old with degrees from Harvard, Stanford and Oxford". Australian Financial Review. Retrieved 9 March 2024.
- ^ a b c d Patten, Sally (14 September 2022). "Meet the 27-year-old with degrees from Harvard, Stanford and Oxford". Australian Financial Review. Archived from the original on 9 January 2023. Retrieved 9 January 2023.
- ^ a b c d Nippert, Matt (16 October 2022). "Billion-dollar growth: Jamie Beaton's Crimson claims unicorn status". The New Zealand Herald. Archived from the original on 15 January 2023. Retrieved 16 January 2023.
- ^ https://www.wsj.com/us-news/education/ivy-league-college-venture-capital-23dc95fa?mod=hp_lead_pos9
- ^ Skoric, Nikolina (24 October 2017). "Meet The 22-Year-Old CEO Who Used Facebook To Build A $200M Business". GQ. Archived from the original on 20 April 2019. Retrieved 9 January 2023.
- ^ Bolton, Robert (15 October 2019). "Meet the 24-year-old CEO who just raised $20m". Australian Financial Review. Archived from the original on 9 January 2023. Retrieved 9 January 2023.
- ^ Andrew, Michael (1 May 2022). "Jamie Beaton's rules for life". The New Zealand Herald. Archived from the original on 1 May 2022. Retrieved 9 January 2022.
- ^ "Newly minted unicorn: Jamie Beaton's Crimson raises $68m at $1b valuation". The New Zealand Herald. 31 August 2024. Retrieved 15 November 2024.
- ^ a b c d e f Dunkley, Daniel (3 January 2021). "Dark cloud looms over NZ's bright young thing". Stuff. Archived from the original on 3 January 2021. Retrieved 9 January 2021.
- ^ Mace, Will (2 May 2022). "Crimson and Eurekly settle legal claims". National Business Review. Archived from the original on 1 February 2023. Retrieved 1 February 2023.
- ^ Young, Victoria (9 May 2022). "Inside Crimson's latest secret settlement". Business Desk. Archived from the original on 1 February 2023. Retrieved 1 February 2023.
- ^ Thomas, Dom (23 November 2020). "National Party announces terms of reference for election campaign review". RNZ. Retrieved 9 January 2023.