Category Archives: According to CNN

Profits Continue to S’well for Bottle Startup

 

Businesswoman Sarah Kauss had no idea her stylish water bottle alternative would become a massive success after starting the eco-friendly startup company S’well in 2010.  After hitting $10 million in sales in 2014 alone, the growth is undeniable and brand recognizability continues to flourish for S’well. Even so, Kauss is just getting started with her ultimate goal.

Kauss had long been unhappy with carrying around unattractive metal water bottles, especially around the office. Although they were fine for the gym or hiking, clunky metal bottles were simply unbefitting for professional office life. Kauss attended her five-year business school reunion in 2009 and it was there that inspiration struck. An old professor highlighted the global water crisis during a reunion presentation and the impact plastic water bottles has on the planet. In that moment, the idea for S’well began to form. 

As a solution to the ugly metal bottle problem, and still avoiding plastic water bottles, Kauss launched S’well. The company boasts a line of insulated reusable stainless steel bottles which come in 90 colors and three sizes. Since the inception, S’well has garnered a lot of attention. As reported on CNN Money, “The business is profitable and saw revenue surge 400% between 2012 and 2014.” Not just attractive, the stylish yet functional bottles keep drinks cold for 24 hours and hot for 12 hours.

Also taking note are the likes of Oprah and Ellen DeGeneres, both of whom praised and featured the bottle. Tech giant Google gave out the bottle to interns in the summer of 2015 and Starbucks sold out of them in store. 

As the company continues to thrive, Kauss hasn’t lost sight of her mission. As always, her hope is to ultimately get rid of plastic bottles.

New For-Profit College Requirements

Yesterday, July 1, the White House’s mandatory for-profit college accountability requirements went into effect across the nation. Over the years, several for-profit colleges, such as the Corinthian Colleges, saddled students with horrendous debt and promised these students that they would easily find jobs and make a certain level of income once they graduated. Obviously, this did not happen and the result was lawsuits by angry students who were shouldering incredible amounts of debt that went as high as hundreds of thousands of dollars.

The new federal requirements now force colleges to track student loans and debts better. The team behind Beneful not that financial aid offices will also not be allowed to offer loans that exceed a percentage of of the student’s income or total earnings — 20 and 8 percent, respectively. According to CNN, there are at least 1,400 programs nationwide that don’t meet this new federal requirement. Those schools who do not meet it will now either have to clean up their programs or shut down.

Some schools like the University of Phoenix decided to adapt and change, but they also had to cut costs. In the case of the University of Phoenix, the school had to let go of many of its students and approximately 900 employees to make up the losses.

Even as these changes take place, some people wonder about student accountability given that many students should have realized that they were being tricked.