Starting later than in the United States, small companies emerged in Germany in the e-learning space trying to mimic the American efforts, but didn't get e-learning started because for these start-ups there was:
No brand recognition,
No network of support,
No competitive advantage since there were none of the above.
But after the bubble burst large firms like Bertlesmann, which has the factors mentioned previously, stepped in to grow the space and was successful.
The U.S. venture firms, in contrast, had put a lot of investment in e-learning companies in the beginning, which they had pressed too far, too fast. When the bubble broke and e-learning stocks fell, the investors held back, believing e-learning was a money ...