Online Learning Platform Adda247 Registers 5X Revenue Growth In Vernacular Business Amid COVID-19 Lockdown
Anil Nagar- led Adda247 also witnessed a 5X growth in terms of student base during this period
Online learning platform Adda247 on Friday said it has registered a revenue growth of five times in the past six months in its vernacular business since the onset of the COVID-19 lockdown.
It has also witnessed a five times growth in terms of student base during this period.
The edtech platform provides study material and e-content for all competitive national exams such as banking, SSC, RRB and NTPC, among others, in regional languages. It is now preparing students for state-wise competitive exams in vernacular languages. The company’s regional channels’ YouTube subscriber base is over 1.55 million.
Commenting on the growth achieved by the edtech brand, Anil Nagar, founder of Adda247 said, “This has been a challenging year for the students of our country. With traditional educational and learning channels disbanded, it was wholly up to the edtech industry to salvage a veritable rescue course for the countless affected students and provide a feasible learning supplement. We are proud that we could reach out to so many students and prospective candidates through our edutech offerings. We at Adda247 are wholeheartedly committed to furnishing the best possible learning programs and preparatory material, so that our student user base can achieve glory, even in the face of adversity.”
Founded in 2010, Adda247 has till date raised funding worth $ 10 million and has created a team of 400-plus professionals and a broad network of 100-plus teachers. The company has over 5 million YouTube subscribers and over 10 million app downloads.
With severe lockdowns, and education institutions remaining shut, students and teachers have moved to online to continue learning, thus increasing the customer base. This has resulted in investors looking aggressively at Indian edtech startups. Recently, Mumbai-based Toppr raised INR 350 crore in Series D round. Vedantu, another edtech player raised $100 million in Series D round. Two unicorn ed-tech players—Byju’s and Unacademy—have been aggressively acquiring other players to mark its dominance in the market.