Capella Education Co was founded in 1991 as a Minnesota corporation. In 1993, it established its wholly-owned university subsidiary, then named The Graduate School of America, to offer doctoral and master's degrees through distance learning programs in management, education, human services and interdisciplinary studies. In 1998, it begins the expansion of its original portfolio of academic programs by introducing doctoral and master's degrees in psychology and a master of business administration degree. In 1999, to expand the reach of its brand in anticipation of moving into the bachelor's degree market, it changed the Company name to Capella Education Company and the name of its university to Capella University. In 2000, it introduced its bachelor's degree completion program in information technology, which provided instruction for the last two years of a four-year bachelor's degree. In 2004, it expanded its addressable market through the introduction of its four-year bachelor's degree programs in business administration and information technology. In May 2007, it completed a follow-on offering of its common stock. The Company is an online postsecondary education services company. Through its wholly-owned subsidiary, Capella University, it offers a variety of doctoral, master's and bachelor's programs in the following markets: behavioral health and human services, business management and technology, education and public service leadership. It focuses on master's and doctoral degrees, with over 72% of its learners enrolled in a master's or doctoral degree program. The Company's academic offerings combine competency-based curricula with the convenience and flexibility of an online learning format. It designs its offerings to help working adult learners develop specific competencies that they could employ in its workplace. The Company actively support and engage with its learners throughout the Company's programs to enhance their prospects for successful program completion. The Company engages in a range of marketing activities to build the Capella brand, differentiate the Company from other educational providers, raise levels of awareness and consideration with prospective learners, generate inquiries about enrollment, remind and motivate existing learners to re-register each quarter, and stimulate referrals from existing learners and graduates. The Company's competitors include both traditional and proprietary colleges and universities offering online programs, such as American Public University, Argosy University, DeVry University, Grand Canyon University, Strayer University, University of Phoenix and Walden University. The company's trademarks are 'CAPELLA,' 'CAPELLA EDUCATION COMPANY,' and 'CAPELLA UNIVERSITY' and distinctive logos, along with various other trademarks and service marks related to its specific offerings. The Company's business activities are planned and implemented to achieve compliance with the rules and regulations of the state, regional and federal agencies that regulate its activities.