Edtech startup Toppr aims to hit 20 million users by 2020-end
Toppr is eyeing at hitting around 20 million registered users/app downloads by the end of 2020 from existing 8 million along with $100 million run rate. The edtech startup is competing with the unicorn Byju’s.
Zishaan Hayath, CEO and Co-Founder, Toppr, said, “Apps like Khan Academy, Coursera, etc. have an engagement rate, which is time spent on the app per student per day, at 10-11 minutes, while Byju’s should be around 50 minutes. Toppr’s rate is 110 minutes.”
Launched in 2013, Toppr has so far raised $65 million. While Byju’s has raised $819 million. Toppr’s valuation could be nearly $200 million while Byju’s valuation has reportedly topped $5 billion.
“Byju’s online and offline entities are older than Toppr. In fact, Byju’s offline entity was already over 10 years in the market when we launched. Yes, it is true whoever raises most funding gets most follow on funding as well, that’s the nature but that does not guarantee outcomes,” Hayath stated.
Currently, Toppr has 2-3 lakh paid users.
Hayath added, “Online learning is better because it is personalized and users (parents) understand this but they are hesitant because still the status quo and peer pressure are on the coaching side.”