Company Profile is an initiative by ListMYStartUp to publish verified information on different startups and organizations. The content in this post has been approved by Lido Learning.
Lido Learning Success Story
These days conventional on-campus, in-person education is being replaced by online education. According to some research done in 2019, it was shown that the online education industry will surpass $230 billion by 2025, and considering the significant influence of the COVID-19 outbreak, online programmes are expected to experience much more growth by 2025.
In reality, the pandemic has proved how effective and long-lasting e-learning can be. It ensures that education is available in the event of a public health emergency, natural calamity, or another event that prevents students and instructors from travelling. It may serve students from all around one country and beyond, bringing in perspectives from all over the world. In addition, it has also been observed that the e-learning atmosphere promotes a better work-life balance.
Lido Learning is an ed-tech business that uses an engaging online platform to transform education for every kid in India. So, there are several other online platforms for Indian students to engage with. What is Lido Learning doing differently?
In Lido Learning's online platform, students benefit from cutting-edge content such as interactive games and animated videos as well as a personalised platform for homework, quizzes, tasks, and motivating professors, thanks to their fascinating and enjoyable live online lessons. Despite all such perks, Lido Learning surprisingly shut down its operations in February 2022.
Read this article further to know more about Lido Learning's founder, business model, revenue model, funding, downfall, and more.
Lido Learning - Company Highlights
- Startup Name-Lido Learning
- Also Known As-Lido
- Legal Name-Quality Tutorials Pvt Ltd.
- Industry-Ed-tech
- Headquarter-Mumbai, Maharashtra, India
- Founders-Sahil Sheth
- Founded-2019
- Areas Served-India
- Website-www.lidolearning.com
About Lido Learning and How it Works?
Lido is India's top Small Group Tuitions platform, offering sessions in Math, Science, English, and Coding to children from Kindergarten to children in 10th standard. Cutting-edge interactive animated video material and gamified learning taught by India's top 5% of teachers are part of the Lido experience. Each class has a maximum teacher-to-student ratio of 1:6 to ensure that the students get ample mentoring, feedback, and clarification.
A student requires a face-to-face connection in a group of no more than 6 students with an instructor to educate them, interactive content to keep them interested, and tailored technology to boost results for optimal student learning. These three elements have been integrated at Lido to create a 21st-century classroom that is entertaining for children, trustworthy for parents, and empowering for its instructors.
Lido Learning's exclusive Roblox game development platform is for kids to take their first leap in a game development environment.
Roblox teaches youngsters how to:
Basic understanding of the Lua code language for Roblox studio scripting.
Roblox game development fundamentals such as model creation, terrain editing, cutting through portions, and adjusting game lighting.
How to use Roblox to publish and share functional games so that others could benefit from their new game production abilities.
Lido is the finest option for kids because it outperforms all other digital learning applications and tutors.
Individual Attention: Every Lido lesson is engaging and interactive with just 6 students, ensuring that each child receives personal attention, continuous feedback, and the chance to clear up any doubts right away.
Interesting Content: Each lesson includes interactive games, HD animated films, and live quiz contests in class, all designed by Stanford, Harvard, and IIT alumni to ensure that the kids learn ideas and enjoy learning.
Real-world Qualities: Lido addresses both school and non-school abilities such as teamwork, leadership, and imagination, preparing children to be job creators rather than job seekers.
Lido Learning - Industry
During the COVID-19 pandemic, the education sector in India has been the most impacted. Today's learning is no longer restricted to specific conventional classrooms. The government's limits and tight safety measures have prepared the way for the new approaches.
The government, public and private schools, coaches, coaching institutions, students, and instructors have all been inclined towards embracing the digital style of the learning experience, which is a result of COVID disruptions, resulting in the EdTech revolution we are experiencing today.
The Indian EdTech business is reported to have garnered $16.1 billion in venture capital financing, up from $500 million in 2010. The K-12 segment, higher education, and upskilling sectors are driving this industry's expansion.
India's EdTech business is expected to reach $30 billion in the next ten years, thanks to the increasing popularity of Massive Open Online Courses (MOOCs) and distance education.
The widespread usage of mobile phones, on the other hand, is thought to improve students' connectivity and learning capacities. Nevertheless, even as accessibility improves, pricing remains an issue for specialised EdTech devices, particularly for lower and lower-middle-income families, restricting their reach.
EdTech startups in India are looking forward to focusing on improving educational objectives, results, and student engagement through improved technical and innovative solutions.
Lido Learning - Name, Logo and Tagline
The tagline of Lido Learning says, "#MakeSuccessAHabit"
Lido Learning - Founders
Lido Learning was founded by Sahil Sheth in 2019. Sahil Sheth
Lido's Founder and Chief Executive Officer is Sahil Sheth's purpose is to use technology to aid students to realise their maximum potential by making learning engaging and exciting. Sahil has been involved in India's EdTech movement since its inception, about a decade ago. He sold his first firm, Infinite Student, to Byjus and served as the business's vice president until 2018.
During his time at Byjus, Sahil discovered that, while children enjoyed viewing self-paced videos, they favoured the real-time engagement and flow of opinions with friends and peers which can only be achieved during face-to-face, small group, live tuition lessons. Sahil completed his bachelor's in science, mathematics, and economics from Duke University, America.
Lido Learning - Startup Story
Sahil has been involved in India's EdTech movement since its inception, about a decade ago. He sold his first firm, Infinite Student, to Byjus and served as the business's vice president until 2018. During his time at Byjus, Sahil discovered that, while children enjoyed viewing self-paced videos, they favoured the real-time engagement and flow of opinions with friends and peers which can only be achieved during face-to-face, small group, live tuition lessons.
After figuring out all the prevailing shortcomings of conventional tuition classes, Sahil created Lido learning to compensate for the same. Lido Learning was founded with one clear aim, which is, to revolutionize the conventional local group tuition class sector by providing tech-enabled learning tools to tutors and world-class learning to all children, allowing them to achieve their maximum capabilities in the classroom and even beyond.
In 73 days, Sahil Sheth and his team built the platform. The platform's testing began with kids in Delhi and Mumbai, followed by Chandigarh and Lucknow.
Moreover, the creators discovered that their concept was more interesting and engaging than traditional tuitions throughout the testing.
During the trials, they discovered that parents in smaller cities were delighted that their children were receiving the same high-quality education as children in larger cities.
Sahil Sheth commented on this, saying, “Students in smaller towns were thrilled to be getting the same product and the same quality of teachers that students in the bigger cities were getting. That is when Lido’s vision changed. It was not just about making tuition classes convenient anymore, it was about democratizing education for all.”
The student-to-teacher ratio at LIDO is 1:6. LIDO is also giving their kids a "Rockstar teacher" who will educate them with "interactive content" to keep them engaged. They also have a customised platform to help them enhance their outcomes.
Lido Learning - Vision and Mission
Lido's mission is to inspire and empower every child for the future.
Lido Learning - Business Model
Lido's business model is B2C Education Solutions - companies that provide online courses, tutoring, educational materials, interactive toys, learning games, and so on.
Lido is a platform enabling students to take live online lessons. Math, English, and science are among the disciplines taught online. It offers self-paced lessons, discussion-based lectures, individualised practice, performance monitoring, and other features for smaller groups of students.
Its income strategy is subscription-based. Lido Learning now offers materials and tutorials for classes V through X, however, for the firm to stay afloat, customers must pay a price to have yearly access to the tutoring.
Lido Learning - Funding, and Investors
Some of the most well-known angel investors sponsored the EdTech firm, Lido Learning. Mukesh Bansal, founder of Myntra, Vijay Shekhar Sharma, founder of Paytm, Anupam Mittal, founder of Shaadi.com and a Shark Tank India judge, Ronnie Screwvala, founder of UpGrad, and Ananth Narayanan, founder of MedLife.
Lido Learning - Competitors
Lido Learning's top competitors include Vretta, Cuemath, WhiteHat Jr., Vedantu, BYJU's, ENpower, Lawpilots and Uvaro.
Lido Learning - Downfall
Lido Learning is an EdTech firm, based in India, whose demise came as a huge surprise to the market. Lido Learning abruptly pulled the plug on February 4, 2022, leaving 150 employees with serious doubts about the future of the company.
Inability to Pay the Workforce Their Salaries
Employees are a firm's foundation; without them, the firm would not be able to run properly. Now, a corporation must adequately care for its employees to achieve this. When the teachers and personnel of Lido Learning were not paid, a red flag was raised. Teachers and employees resorted to social media to express their dissatisfaction with the firm when their salaries were not paid. They still haven't paid pending salaries for the people they fired back in January 2022.
Inability for Collecting Funding
Even though Lido Learning has raised $24 million in funding to date from well-known investors such as Vijay Shekhar Sharma and Anupam Mittal, several organisations who intended to participate in the startup backed out at the last minute owing to the epidemic. Several investment arrangements with firms like CureFit and ByteDance were cancelled. As a result, the company's reserves were depleted, causing financial troubles.
No Refunds for Customers
Another major cause for this EdTech's collapse is that the company's consumers were not effectively treated, their needs were not satisfied, and the service was poor. Some expectations were not met when clients requested to end the trial period, and refunds were not issued. The termination of their memberships resulted in poor word of mouth and negative comments from consumers, and the company's image suffered as a result.
Lido Learning - FAQs
What does Lido Learning do?
Lido Learning is an ed-tech business that uses an engaging online platform to transform education for every kid in India.
When was Lido Learning founded?
Lido Learning was founded by Sahil Sheth in 2019.
Who founded Lido Learning?
Sahil Sheth founded Lido Learning in 2019.
Has Lido Learning shut its operations?
Yes, Lido Learning abruptly pulled the plug on February 4, 2022.
