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As Vedantu launched its new online learning platform W.A.V.E 2.0 with features like AR effects and 3D models, company CEO Vamsi Krishna told BusinessLine that the edtech unicorn aims to go public in the next 20-24 months.
Vedantu is not profitable yet but it has a positive contribution margin. “Given our IPO aspirations, the profitability trend is more critical for us than literally turning profitable. Because, I believe turning profitable is not something which a fast growing company needs to aim for. Our strategy is to keep our operations profitable and continue to invest the surplus money in innovations like W.A.V.E, among other things.”
Interactive features
W.A.V.E 2.0 is said to have 67 live interactive features including AR filters, Drag and Drop feature, 3D models, leaderboard for students, multi-teacher model, and instant doubt solving by teacher assistants among other things. For large group classes, the platform can accommodate more than 2,000 students and, for webinars, more than 10,000 students can be accomodated. Vedantu said it has filed five patents for W.A.V.E and a patent has already been granted in the US.
Interestingly, the platform is customised to work on smartphone devices, which is the preferred device for most Vedantu students, and is said to use 40 per cent less bandwidth than other platforms.
Responding to how the company was able to reduce the internet bandwidth consumption while offering features like AR filters, Krishna said, “normally AR filters are done on a video stream but we have taken out the video stream and all the effects are essentially coordinate transfers and most of this processing happens on the client side while we are just triggering signals. So it’s not a data transfer, just a stream transfer of coordinates/signals.”
Further, Krishna noted that the company has grown 12x in the last two years. However, he does not expect this growth rate to continue and estimated the demand trend to come down to a normal growth of 4x - 5x.
Edtech companies have seen a major spike in customer demand, as Covid-19 outbreak led to shutting down of schools and colleges for the majority of the past two years. Now as educational institutions re-open, the demand trend is expected to slow down relatively.
Commenting on the possibility of Vedantu adopting a hybrid learning model like its competitor Byju’s, Krishna said, there are very interesting opportunities around hybrid models and the foray is inevitable. “It has always been an interesting proposition and as Vedantu, we will definitely consider it. Now when will we consider it, is something we are still debating.” he added.
Founded in 2011, Vedantu offers individual and group classes to K-12 and test preparation segments. s.
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