- Amazon has drawn the curtains over its online educational services in India.
- The tech giant will leave India’s crowded Edtech market in 2022 to cut down costs.
- The company will discontinue operations for its Amazon Academy – an online platform launched for high school students in India.
Amazon has announced that it is shutting down its Amazon Academy in India just a year after its launch. Amazon Academy is an online learning platform that is predominantly created for high school students in India. The tech giant said that it will shut down operations in a phased manner from August 2023.
More about Amazon’s exit from India’s ed-tech sector
Amazon will close down Amazon Academy just a year after its launch in India. The company has said that those students that have signed up for the new academic batch will receive a full refund.
Amazon forayed into the Indian ed-tech sector by launching the Amazon Academy in 2021. Previously known as JEE Ready, Amazon was rigorously testing the platform since 2019. The main objective of this service was to help students prepare for the JEE entrance exam, which is the entry point to India’s most coveted engineering colleges.
Amazon Academy provides relevant learning material, a series of mock tests, live lectures and detailed assessments to nurture students and help them crack the Joint Entrance Examinations (JEE).
JEE is a government-backed entrance exam held in India to get admission to numerous high-ranked engineering colleges in India. After the launch of Amazon Academy, the company would cut through the competition and cement its place in India’s highly competitive ed-tech sector.
Many also believed that Amazon’s entry into the ed-tech market could pose a huge threat to Indian ed-tech startups including Unacademy, Vedantu, UpGrad, and Byjus.
India’s ed-tech market – controversy, competition, and curiosity
India’s ed-tech market is relatively young and not as streamlined as ed-tech markets in other parts of the world. Many aspire to find a place in the country’s top engineering colleges, which has led to a noteworthy increase in demand for ed tech applications.
However, the industry is volatile. Byju’s, a dominant player, has quickly established a global brand by supporting Indian sports teams and has grown to be the most well-known and valued startup in the country. However, it has also been alleged that Byjus and other ed-tech firms use high-pressure sales techniques that prey on Indian families’ faith that education is a ticket to a brighter future.
Byjus also attracted controversy for scaring off both customers and investors by holding down the release of financial information for up to 18 months. The business eventually disclosed losses of more than $500 million. Competitors also disclosed less-than-stellar balance sheets, resulting in the embarrassment of their venture capital funders and a decline in confidence in India’s startup industry.
Amazon quitting the Indian ed-tech scene could be a key indicator of how the Indian ed-tech landscape. While some speculate that the company is backing out to reduce costs, others believe Amazon was unable to find its footing in the Indian ed tech market. Whatever may be the reason, the story remains the same – Amazon will quit India’s ed-tech market in 2023.
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