The offline coaching industry in India is one of the most profitable and lucrative businesses so why does Edtech giants like Byju's, unacademy fail to replicate the in profitability terms.
Because for a lot of businesses scope dilutes with scale.
Also the reason why most iconic Indian restaurants don't have multiple outlets. People will eat at the branch but always say - Woh original waali baat nahi hai.
Sharing my 2 cents here. Well, there are multiple reasons for edtech failing but I think it is mostly about the basics.
What problem are organisation like Byju's solving? Is the problem " Quality education is limited to metro cities. So, Byju's should use edtech format to reach out to masses" or " Byju's curriculum is superior than that of school and college. So kids need to depend on us instead of schools" or something else?
If edtech want to be the preferred education medium then are they saying entire Indian academia like schools and colleges are no longer required or do Byju's see themselves as a supporting entity to regular academia?
While the actual users may be kids but target customer are their parents. And these are the parents who have received traditional schooling. They will never accept Byju's etc. as an alternative to traditional schooling.
So I think the reason for failing edtech is their lack of clarity on what they want to be. I think Udemy is case in point. They are clear that they see themselves as a supporting function for corporate employees, B2B business. They are doing pretty well for themselves.
Because of founders- Gaurav and Byju
GM is master of failures, he doesn’t plan stuff. He does things first and later thinks
Linkedin type app- fail Youtube replica - Graphy and Graphyx fail Some gaming shit amongst students fail- who the hell on earth prepares for a competitive test using some random game? And worst part- he will not even listen to anyone
He has Godly (negative) attitude Yells at poor office boys, drivers Abuses, slaps Hotel Valet He doesn’t spend, he wastes money on 10-15 iphone chargers at a time, stock of 10 ipad pencils (bhai kyo chahiye itna stock) Makes people wait for 4-5 days for a 2 minute meeting (which is by the way called by him) Abuses employees (including females) Abuses media
And what all not- he manages twitter comments, twitter trends (positive in his favour whenever they launch any campaign)
The reason edtech is failing is because most of the course they sell are pure scam For example most of the shitty ai course
Because they don’t really care about building innovative tech first products. Only thing they care about if revenue and selling and showing traction and valuation to investors. They want to become superstars overnight.
Small mission driven companies such as Brilliant are doing terrific work with their products and that’s why they have strong feedback and word of mouth. They won’t become superstars overnight but want to grow sustainably over the years. Indian entrepreneurs hardly get this.
I'm tired of people calling everything in edtech a scam, of course the companies don't help themselves by their bs marketing and unattainable placement claims and other bullshit
But I'm genuinely curious as to what grapers/ grapies / vi...
I don't understand, the sector that makes sureshot money on small and medium scale is continuously failing on pan India scale.
A small IIT coaching in Patna with 2 centres generates profit in crores but these Byjus and Unacademy are not...
Any Goss on the financial health of Edtech firms like LEAD, Unacademy? I hear there's one more round of layoffs coming.
