About The Company
Adda247 is India’s biggest vernacular exam prep platform, serving over 50 million students from Tier II and Tier III cities throughout the country. Adda247, backed by marquee investors such as Westbridge and Infoedge, is on a mission to provide excellent education to the public by offering online courses for all major examinations in more than ten regional languages in India.
Adda247 operates many platforms, including the Adda247 mobile app, YouTube channels, bankersadda.com, sscadda.com, teachersadda.com, and Career Power.
| Company Name | Adda247 Group |
|---|---|
| Headquarters Adds. | Gurugram, Haryana, India |
| Industry Type | EdTech |
| Founded in | 2010 |
| Founder | Anil Nagar |
| CEO | Anil Nagar |
| Revenue | Rs 46.7 crore in FY21 |
| Total Funding | $61.02M |
| Website | www.adda247.com |
Industry Details
According to IBEF estimates, the higher education industry in India is valued at $102 billion. The online higher education market is presently worth $247 million and is expected to grow eightfold to $1.96 billion by 2022. According to Techavio’s industry study, the Indian online education market would be worth more than $18 billion by 2022, growing at a CAGR of about 20% over the next five years.
The total number of students enrolled in higher education in India is estimated to reach 34.6 million. For the age range of 18–23 years, the gross enrollment ratio (GER) in higher education is 24.5%, while distance education accounts for around 11.05% of overall enrollment in higher education programs. Since the UGC enabled eligible schools to offer degree courses online, recruiters’ opinions regarding online degrees in India have evolved. This decision is a major change for India’s online education business.
Founders And Team
Anil Nagar founded Career Power, now Adda247, in 2010 with the goal of providing one-stop solutions for different government test prep and admission examinations.
Anil Nagar:
Anil Nagar is The Founder and CEO of Adda247. Anil Nagar, who came from a small town in Uttar Pradesh, believes in self-determination and hard work. He graduated from IIT-BHU with a degree in Electronics and Communication Engineering and has held positions of prominence in many prestigious organisations.
Saurabh Bansal:
Saurabh Bansal, an MBA graduate in Financial Management from the University of Delhi, develops and implements the company’s development strategy. He has been a vital link in this rapidly expanding company’s building control system.
Startup Story
it’s Founded in 2010 by Anil Nagar and Saurabh Bansal, provides live-video lessons, on-demand video courses, mock tests, and books for government examinations. It boasts 22 million monthly active users and two million premium subscribers.
Initially known as Career Power in its offline form, the company was renamed Adda247 in its online form in 2016. As of now, Adda247 owns and operates many web platforms, including Bankers’ Adda, SSC Adda, Teachers’ Adda, and the Adda247 Mobile App.
According to comparable online rankings (as of February 14, 2019), Adda247 mobile is one of the top two education applications in India.
Products and services
Their primary product is the App, which prepares students for numerous competitive government examinations. It is a collection of the whole curriculum showcasing the most recent modifications, as well as study material and videos (live and pre-recorded) by different specialists for each exam they cover. The study materials and videos are bilingual (available in both Hindi and English) to allow students to learn in a way that suits them.
Adda247 offers assistance with all types of government sector examinations. These are their names:
Business Growth & Revenue Model
Consider the following example: It established BankersAdda in 2016 to share all banking exam prep materials and spread the news about Adda247. According to Nagar, user engagement increased and the company gained a lot of organic user growth.
However, after the program had generated some early traffic, the difficulty was in converting these free users into paying clients.
The firm used a two-pronged approach to secure a high conversion rate.
First, it provided both free information (through blogs and vlogs) and paid courses. “We discovered that most first-time users came from small towns and non-metropolitan areas and wanted to try the product before purchasing it.” “The free material helped students obtain a general notion of what they would need for exam preparation,” Bansal said.
Second, it spent on developing a robust student counseling staff to assist customers in finding the best courses, understanding the offers, and navigating the onboarding process. With these strategies in place, the firm was able to more than double its conversion rate.
Adda247 recruits highly educated teaching personnel and holds frequent recruitment drives to onboard talented instructors since excellent education is at the heart of the company.
Furthermore, it has created various gamified elements to increase interaction. Existing users may earn virtual money in-app to purchase additional courses and unlock new features. “Gamifying a learner’s experience increases retention on the platform,” Nagar added.
Despite the early setbacks, the edtech player gained momentum by assisting hopefuls in landing their ideal employment. According to the firm, approximately 67% of applicants who passed the State Bank of India’s Probationary Officer (SBI PO) Exam in 2019 were Adda247 subscribers.
The brand operates on a freemium basis, with most premium courses on the site costing between INR 2K and INR 5K. Adda247 costs between 15-20K for the most sought-after UPSC exam preparation.
Total Funding
Adda247, an ed-tech firm that provides training for careers in public sector banks, government agencies, and railroads, announced a $35 million fundraising round headed by WestBridge Capital. Adda247 has raised a total of $61.2 million.
Adda247 provides material for over 500 government examinations in over 12 vernacular languages. It intends to go further into the vernacular sector by developing additional courses and employing teachers for various state-level tests.
Adda247 finished its Series B fundraising round on October 1, 2022.
Startup Challenges
ADDA247, like other businesses, encountered several challenges. The most significant was a poor assessment of the legitimacy of online education. There is a prevalent misconception that online education is frivolous. It was tough for adda247 to demonstrate otherwise via its product, customer experience, and success stories.
Conclusion:
We attempted to make Adda 247’s success story appear excellent in this blog, but some details will be added later. I’m sure you enjoyed this blog story. If you have any questions, please leave them in the comments section.
FAQs:
Q. Who is The Founder of Adda247?
Ans. Anil Nagar.
Q. Is Adda247 free of cost?
Ans. free online coaching lessons are available on the Adda247 YouTube channel.
Q. How effective is Adda247?
Ans. 3.8 out of 5 star rating on AmbitionBox based on 71 employee evaluations.
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