Think of it as summer school for the Facebook generation.
That’s the idea behind Grockit Inc., a San Francisco startup that offers tutoring and test prep online. The company aims to take on companies like Kaplan and the Princeton Review Inc. by undercutting their prices, offering more custom features and using social networking to appeal to students.
The site lets users collaborate and socialize while studying, giving them more reasons to keep coming back. The challenge is winning the trust of parents, who may be more comfortable relying on established names to get their kids into top colleges. A handful of players dominate test preparation and course supplements, a market worth more than $1 billion, according to research firm Outsell Inc.