As effects of Covid-induced demand for online mode fades, cos raising offline presence
Covid lockdowns shifted the focus to online from offline coaching centres. However, the trend reversed as the effects of Covid started fading. The online coaching and tuition companies stopped getting the generous funding they got used to during the pandemic, and many online start-ups that started during Covid had to shut down. Unacademy, Byju's, Teachmint, Skill-Lync and Vedantu had fired many employees.
Now, these online companies have started focusing on offline centres. The fall of Byju's, valued at $22 billion in 2022, has raised many questions including scope of online edtech and its future. Currently, Byju's has over 250 offline centres. Other edtech firms like Unacademy, Cuemath and Physics Wallah are also expanding their presence offline.
Physics Wallah operates over 120 offline centres. The edtech company, which has a presence in online, offline and hybrid modes, became a unicorn in 2022, and its revenue in FY23 stood at Rs 772 crore. Over 2 lakh students are studying in offline centres.
ONLINE TO OFFLINE CENTRES
Ganesh Mahadevan, Partner, thinksynq consulting, says it is disheartening that edtech firms wasted the tailwind provided by Covid, which did all the selling for this industry by getting a large mass of relevant target segment to buy into the service and try them for a sufficiently long time.
This story is from the September 08, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 08, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
SUGAR RUSH, COMING RIGHT UP!
Bringing you the perfect holiday gift to whip up decadent delicacies for your family this Christmas, Shivesh Bhatia's book is a deep dive into everything chocolate-y and irresistible
Steering towards safer minds - and roads
AFTER a polytrauma caused by a road traffic accident, a man in his late twenties is now a shattered individual.
Konstas in, McSweeney dropped
TEENAGE sensation Sam Konstas was handed a maiden call-up as Australia on Friday dropped rookie opener Nathan McSweeney for the final two Test matches of the Border-Gavaskar Trophy against India.
Brison double helps Goa sink toppers Bagan
FC GOA extended their unbeaten streak to seven games with a 2-1 win over league leaders Mohun Bagan Super Giant in the Indian Super League at the Jawaharlal Nehru Stadium in Goa on Friday.
'HIL revival a big boost for youth'
THERE is something about PR Sreejesh. He is always ebullient, seems at peace with himself and more than anything, he is shrouded in an aura of positivity. Always cheerful and articulate, Sreejesh speaks his mind. During a short conversation, he felt that his stint as coach of the junior team had been fantastic.
Odisha's tribal lifter Jyoshna shatters youth Asian record
JYOSHNA Sabar created a youth Asian record for total lift at the ongoing Asian Youth Weightlifting Championships in Doha on Friday.
Gill's Away Output A Cause For Concern
India's number three was expected to play the role of his formidable predecessor, Pujara. He has not been up to the mark in BGT so far
SPURS SURVIVE MAN UTD COMEBACK TO ADVANCE
TOTTENHAM survived two calamitous errors from stand-in goalkeeper Fraser Forster on Thursday to beat Manchester United 4-3 and set up a League Cup semifinal against Liverpool.
Colombo an option for CT due to UAE's visa rule?
FOR the Pakistan Cricket Board (PCB), the United Arab Emirates (UAE) remains priority for being a neutral venue for the 2025 Champions Trophy.
Barty's former hotspot now a different world
227 ARCHERFIELD Road, Richlands, Brisbane, Queensland. It is an address that holds significance not just in Australian tennis, but the country's sporting history.
