In his second year as a full-time applied economics and business administration student at Cornell University, Dan Cane '98 co-founded CourseInfo, LLC, an online learning platform and global education technology solution that later became Blackboard, Inc. Did. The idea of digitizing the professor's class materials inspired a business that quickly turned his housemates into colleagues and his career path into highly successful entrepreneurship. In 2011, Blackboard, Inc. was sold for his $1.6 billion.
Currently as CEO medical modernizationAn award-winning medical technology company he co-founded in 2010, Cain continues to spend time mentoring young entrepreneurs while working to improve the health care system. Kane established that Kane Entrepreneurship Scholar A Dyson School program that provides financial support, mentorship, and experiential learning opportunities to aspiring entrepreneurs at Cornell University.
How did your entrepreneurial journey begin?
Like many entrepreneurs, my journey started early in life. It was a lemonade stand, and my parents supported me by providing the ingredients. I quickly realized that I could simply sell packs of lemonade to make things more convenient for my customers. Until my parents no longer buy the materials, I can offer them at below market prices. My more relevant business journey began during his second year at Cornell University. So, with the support of my dorm and then housemates, I founded CourseInfo, LLC, which became Blackboard, Inc. in 1997.
What problem does your business solve?
Currently, I am the co-founder and CEO of ModMed. At ModMed, we help healthcare practices grow and expand by using cloud, data, and AI technology to deliver a better patient experience. Leverage extensive clinical outcomes data to design intelligent software solutions that simplify, automate, and streamline clinical workflows and increase practice efficiency. With his specialized EHR, practice management, revenue cycle management, and analytics solutions, and products for patient engagement, payment processing, and marketing, we are trusted by more than 35,000 providers across the United States and clinical and driving business success. More simply, we use technology to try to fix broken health systems.
Did you intend to become an entrepreneur when you entered Cornell University?
Entrepreneurs are not born, they are nurtured. When I first arrived at Cornell University, I didn't know what I wanted to do, but I knew I wanted to combine my passion for technology with my purpose. I started studying Economics at the Faculty of Arts and Sciences and then transferred to study Agricultural Economics at CALS (now Dyson), which provided a deeper understanding of the tools entrepreneurs need to succeed. By the end of my sophomore year, CourseInfo's business was growing, and whether I liked it or not, I had to learn how to scale the company.
Entrepreneurship is about taking calculated risks. What is the most important risk you have taken and how has it changed your path?
Life is all about risk-reward trade-offs. Most students graduating from college are at a very tolerant time in their lives, so they should have a very high tolerance for risk. I was used to eating ramen and drinking cheap beer. I had no family to rely on. It was the perfect time to start a company. The single most important risk that led to the creation of Blackboard was actually something else. my danger. My best friend and housemate were my co-founders. As they neared graduation, they all moved on to jobs in their respective fields, including consulting, computer science, and materials science. we believed in each other. If they hadn't taken a risk with me and turned down a job opportunity, Blackboard wouldn't exist. Their willingness to take a risk on our startup changed my path forever. And I'm forever grateful.
How did your experience at Cornell influence your approach to business?
My co-founders were students at Cornell University. The classes at Cornell University were my education. The professors at Cornell University were my customers. Cornell was a living laboratory for Blackboard. I use the lessons I learned during my time at Cornell every day. It wasn't just the quality of the education, but the quality of the experience that changed me. Most importantly, the people I have met and continue to meet at Cornell come from different backgrounds.
Was there a particular teacher or class that influenced you the most? If so, how?
CourseInfo was founded in Dr. Cindy van Es' business statistics class ARME310. At the time, she liked her dual overhead transparent projectors. She took a chance on me and offered to let me digitize my syllabus, class notes, answer keys, etc. using the World Wide Web, a radical invention from 1996. Her feedback shaped the product, which became Blackboard. Warren She will never be forgotten sitting in her B45 (well, well, since her name changed!) taking notes and thinking, “There has to be a better way” to learn business statistics. not.
What is your proudest moment as an entrepreneur? Why?
My proudest moment as an entrepreneur was helping take Blackboard public on the Nasdaq on June 18, 2004. It took years of work and hundreds of failures and recoveries to grow into a publicly traded company. In that moment, that fairness became very real for my employees and, most importantly, for my best friends who believed in me.
If you could give one piece of advice to someone just starting out, what would it be?
There are some things in life that are dictated by life itself and are out of your control, but the most important thing is to make your own choices. who you are around yourself. You choose your friends. You choose your spouse. You choose your leadership team. Please make good choices.
Cornell University's expertise in research, technology and business education has a meaningful impact on communities around the world. Our mission goes beyond the classroom to help entrepreneurs access the research and instruction they need to launch and succeed in their businesses.learn more.
