Good morning! It's already Tuesday (I'm slowly losing track of the days) and we've got some EdTech recap in news today. Also apparently the Jio train doesn't seem to be stopping anytime soon (Saudi's PIF is in talks to pick up a $1.5B stake), and the other story today is about the Ken turning their newsletter into a paid product (and why I'm a fan of the move). Also, my long form piece on "What's CRED business model" drops on hind.substack.com tomorrow, so subscribe to that if you haven't yet!
➡️ The EdTech sector in India is one of the few sectors which has not only not been affected by the pandemic, but has actually thrived. Here's how well some of the companies have done. ➡️ BYJUs has added over 7.5M students on the platform since making it's content free and generated ₹350 Cr (~$47 M) in revenue in April alone! The online learning platform Vedantu has also exponential growth and added 650k learners across K-12 & competitive exams, and the company also recorded an 80% revenue growth in May over last month!
➡️ Unacademy has also seen insane growth and the company generated more revenue this April compared to all of 2017, 2018 & half of 2019 combined (wow)! The company had hit $36M ARR before the pandemic, but that has now grown 3x to >$100M.
➡️Toppr, the competitive exam preparation platform, has seen a 100% growth in their paid user base, with the free users engaging with the platform twice as much.
➡️ Covid has definitely been the catalyst for Indian EdTech, a lot of these platforms have thrived when students potentially haven't been able to access live classes from their own teachers. Alongside these Indian startups, Zoom & Google Classrooms has seem tremendous growth in the country empowering teachers to conduct their lessons online.
➡️ And while, school will go back to normal in a couple of months some of the online learning products will continue to be a bigger & bigger part of the Indian student's life.
2. https://bit.ly/2B6Rdsl: The Ken launches Paid Newsletters
➡️ The Ken is one of India's premium publications covering startup news with a greater emphasis on strategy & business, and they run two popular newsletters as well Beyond the First Order (a daily newsletter focussing on the consequences of the pandemic) & The Nutgraf (a weekly newsletter explaining the fundamental shifts in business & technology)
➡️ These newsletters had previously been free and the Ken (I presume) were using it to drive more subscribers to their paid daily in-depth reporting. And from July 1st onwards, they will not be free any longer (well still free to paid subscribers of the publication) and will cost ₹99/month each.
➡️ If you have read some of their newsletters, you'd realize how much time and effort goes into them. I personally really enjoy reading BFO every morning (usually more so than their in-depth stories), and it does make sense for them to start charging for it (they want to avoid an ad-supported news model).
➡️ This also brings up an interesting time, where The Ken can now bundle the two newsletters and offer them at a discount and potentially look to other daily/weekly paid or free newsletters to bring into a "bundle" to offer as a comprehensive yet economical news + strategy publication.
➡️ And while I'm not the biggest fan of Ken's reporting at times, I'm a huge advocate of subscription led reporting & media so if any of y'all are looking for more daily/weekly content to read, checkout: - https://the-ken.com/bfo/ - https://the-ken.com/the-nutgraf/
Feedback & ❤️ always appreciated
More tomorrow :) BONUS (Tweet of the day): https://twitter.com/bapnaa/status/1272454301047156736
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