Is Online Education (Edtech) in India Reaching a Plateau?
If you are asked which countries in the world take secondary education extremely seriously – Japan and India will probably jump to mind. During the COVID pandemic, India saw a rapid growth of online education offerings. Recently, India gained another edtech unicorn — PhysicsWallah, a low-cost study and test prep platform. India now counts 7 edtech unicorns in total, including the behemoth BYJU’S (valued at $22bn). BYJU’S acquired 10 companies last year and in May bought an exec education platform as it continues to expand beyond grade 12 learners. However, a number of leading Indian edtech companies like Vedantu, Unacademy, and Lido Learning (which shut down earlier this year) have given the axe to hundreds of employees in recent months. On the other hand BYJU’S and Unacademy are now venturing into offline learning. It seems that edtech’s COVID boost in India, and maybe elsewhere, is petering out. Now comes the test of which of the Indian edtech companies have real, fundamentally sound business models.
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