Case Study – Vedantu The Learning App | Business Model | Market Value

Vedantu is an Edtech startup based in India which gained extensive popularity due to the Covid-19 pandemic. As all the educational institutions suffer from imminent closure, there is a rise in demand for technological options to advance in the study. Vedantu is now one of the top tutoring platforms that offer such live education to students. They promote personalized learning for students making it their goal to be interactive. 

About Vedantu

According to Vamsi Krishna-  The CEO and co-founder of Vedantu “Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes. During the lockdown, everyone is talking about LIVE classes and it is the best time for us to drive more adoption and strengthen our brand as the best destination for LIVE classes. On top of adding new categories, we will use the funds to invest in content and technology to create the world’s best LIVE teaching-learning experience.”

What does Vedantu mean?

The word Vedantu arises from two separate words. Veda means ‘knowledge’ whereas Tantu means ‘network’. Together it compiles to form a network of knowledge that connects teachers and students directly to improvise learning at any place and time.

About the foundation of Vedantu

Pc: Apps unveiled

Vamsi Krishna founded a venture, his first-ever called “Lakshya” in 2006. His three IITian friends helped him with his initiative. Their new venture aimed to provide guidance and teaching to students for various tests and exams. While going on this path, they realized the extensive need for dedicated and skilled teachers in the Indian sector. This gave them the motivation to work towards this goal.

They started developing their platform through Lakshya. After six years, in 2012 MTEducare acquired this platform. Vedantu preparations begin only afterward. This tech start-up was introduced in 2014 as an online tutoring platform. Vedantu is working since then to improve the education structure through its continuous efforts and an exceptional online teaching platform.

What is the aim of Vedantu?

Vedantu was developed to explore the online market of imparting live coaching sessions. It provides sessions for 6th to 12th-grade students. Except for the schooling system, this platform provides special offers and packages for students appearing in the entrance and competitive examinations such as JEE, IMO NTSE, and IIT foundation. The platform is up-to-date with the upcoming demands of technology and provides LIVE learning among students and teachers.

There is a scope for both individuals as well as group classes. Vedantu utilizes two-way audio, video as well as whiteboarding tools to support their teaching, making it more easily grasping and long-lasting. Everything happens in real-time, with questions, doubts, and other interactions between students and faculty. 

Progress of Vedantu

The number of subscriptions has risen significantly over the lockdown period for both K-12 and competitive exams such as JEE and NEET. 

• Services are offered to 25 million students per month. 
• 220% growth in users with 2 million unique students participating in live classes over the past three months.
• Launched WAVE- an artificial intelligence and Machine learning platform to adapt with personalized learning and aid teachers to make classes more enticing for students- in 2019.
• Invested $2 million in Instasolv- an EdTech organization and doubt clearing app, for K12 as well as competitive exams questions to help students. 

Challenges faced

Online education may be challenging sometimes. One of the major drawbacks was to make classes binding and attractive. There was a noticeably low completion rate due to less engaging content. To tackle this problem, Vedantu sorted live classes making them real-time and much more interactive. 

Initiatives of Vedantu

Vedantu has taken a keen initiative to promote online learning during the lockdown by offering FREE LIVE Interactive Classes. Even the premium content for K12 and competitive exams are made free. This is helping a lot of students in the lockdown.

What is the worth of Vedantu?

As per Economic Times, currently, the worth of Vedantu with its latest capital infusion is valued at USD 600 million. This makes Vedantu the second most valued firm in the Indian sector of Edtech. It stands after Byju’s whose worth is USD 10.5 billion.

Fundings received by Vedantu

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Vamsi Krishna says “Strong growth and category leadership of Vedantu in live online tutoring — these were the main reasons for us to gain investor interest. It was a good opportunity to raise more money and create a war chest.” 

• Vedantu was able to raise total fundings of $200 m across its funding rounds for a valuation of $600m.
• Last, this year in February $24 million was raised by Vedantu in a funding round headed by GGV Capital.
• An amount of Rs 96 crore was raised in April during its Series C1 round, led by Legend Capital- a Chinese venture capital firm along with Omidyar’s Ohana Holdings LLC.
• In a new funding round from South Korea-based KB Global Platform Firm on April 20, Vedantu raised $6.8 million.
• In mid-July, $100 million were raised by Vedantu in Series D funding, led by US-based Coatue Management.

Vedantu contact information

For contacting Vedantu the following Toll-Free contact number can be used: 1800-120-456-456 / +91 988-660-2456

To contact them via email bondwithus@vedantu.com is the virtual address.

Is Vedantu free?

Vedantu has various course packages for its students. Premium courses mostly require a tuition fee. However, due to covid-19 Vedantu is imparting free education to students. 

Have you heard of Vedantu’s free master class?

Vedantu is offering Live online class support in Bengaluru, New Delhi, Kerala, and Hyderabad along with free access to its complete learning platform. All the masterclasses including Vedantu Master Teachers, Study Material, Tests & Assignments, LIVE Doubts feature during this outbreak are made available for free. 

Vedantu has the vision to make education accessible to all with the quality of education as their priority. They promote uninterrupted learning, dedicated to helping students. 

Vedantu Scholarship

Students from any affiliated school of any state and any board within India from grade 6-13 are eligible for applying in the Vedantu Scholarship program. They give rewards of up to 100% fee waiver on full-time courses of various exams such as JEE, NEET, CBSE, and ICSE.

In 2020, the last date of application is December 31

The scholarship is reserved for the brilliant students who score high ranks in the Vedantu Scholarship Admission Test (VSAT). 

How to cancel the Vedantu subscription?

The Vedantu account can be canceled any time using the “cancel account” option available on their site. A person can also use the option of sending an email to cancel their subscription. 

The cancellation will immediately terminate the enrolled student. The refund functions as per their cancellation policy. Vedantu itself holds the power to cancel any subscription within 30 days of prior notice.

How much does an average teacher earn on Vedantu?

Roughly, Vedantu teachers earn more than INR 15000 per month. For a dedicated teacher devoting more than 2 hours into educating students INR 18000-20000 per month can easily be earned. 

Payouts are made on the 5th of every month to the Teachers.

For applying in Vedantu as a teacher following steps is to be followed:

•  Apply as Teacher: Apply by filling in a simple form.
• Initial Screening: Best profiles are screened by trained experts.
• Teaching Demo: Pick a topic of your choice and give a teaching demo.
• Teacher On-Boarding & Training: Once selected, documentation and profile creation will be done, followed by training and induction webinar.
• First Online Session: After attending a webinar, a person can be listed as a teacher and will get their first online session in no time.

Conclusion

In India, the Edtech sector is blooming with endless potential. Vedantu has a chance of a massive flourishing future with serious promising goals to fulfill. In the future, Vedantu can become one of the most renowned firms dominating the Indian education.

 Related: Byju’s Business Model

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