Over a cup of coffee earlier this month, a senior executive at an edtech firm touched upon a subject that isn’t discussed much. He said the education technology sector has been in a “bull market for almost two years, and has not faced a tough time … and that is making them run unbridled”.
“They are young, vibrant and aggressive in their business approach. The Covid-19 disruption gave them that momentum in funding, reach and acceptance. But they have not seen both sides of the coin yet,” the executive, speaking on condition of anonymity, said during a friendly interaction.
The closure of Lido Learning and the ensuing uncertainty for hundreds of staff seems to have given the sector its first jolt in recent times, and brings to the fore a new debate on the edtech sector, its working model, and questions over whether several companies, if not all, are over-branding, over-promising, and under delivering.
“Without naming company X or company Y, education technology players need to realise that the sector demands quality, it demands that you fulfil promises, and aggressive branding will make you more susceptible,” said Rohin Kapoor, co-founder of edtech firm Myedge, which operates in the school tuition space.