The edtech major recorded 72% growth in learners onboarded in April, aims to double its revenue by June 2020.
Edtech major upGrad, India’s largest higher education provider, just moved their start dates for all their 40 courses to start every month instead of quarterly, to take on the surge in demand from working professionals. This has more than doubled its course capacity, and each class now has a peak of 1000 learners at a given time.
Ronnie Screwvala, Co-founder and Executive Chairman, upGrad, said, “The larger the class online, the more active the peer-to-peer learning and so it’s the inverse of offline learning.”
“Last month we reached 5, 00,000 learners for our online programs, which is no mean feat in itself. Now take into consideration that our average ARPU is Rs 2.5 lakhs. Yet, we are only at the very start of addressing a market of over 100 million working professionals and graduates,” he added.
This quarter, upGrad’s revenues will cross an annual run rate of Rs 500 Cr with the launch of their Live Learning platform free of cost to multiple colleges and universities, to replicate their classrooms online and address their students during the Covid-19 period seamlessly. The company also separately recorded 10,000 enrollments for their 350 hours of free courses initiated during this period.
upGrad provides programs in the areas of Data Science, Technology, Management, and MBA to college students, working-class and enterprises. These programs are designed and delivered in collaboration with top-notch universities like IIT Madras, IIIT-B, BITS Pilani, MICA, NMIMS Global Access, Duke CE, Deakin University, Liverpool John Moores University, and others.