Tutoring – GoStudent expands its business model

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The global provider of online learning resources will also start on-site courses this year.

The Austrian start-up GoStudent has experienced impressive growth since 2020: more than five million (!) eager people are already taking lessons online. In addition to the German-speaking countries, a z. B. is still strong in France, Spain, Italy and England. The course was set for expansion into the US, Canada and South America, and the first office outside Europe was opened in Mexico City.

But mastermind Felix Ohswald (27) is already thinking about the next step: “This year we will also offer offline tutoring in groups.” On the one hand, the costs for students can be reduced: an hour online costs about 23 euros, with group lessons on site that is less than ten euros. On the other hand, it promotes communication. Ohswald: “We are going to offer hybrid models, so that you, for example, B. can come together live once a month.” The start is in the big cities.

Turnover recently exploded by 800 percent, this year around 400 million euros will be achieved. There are already 2000 employees, 400 of whom are in Vienna. In addition, there are more than 10,000 freelance teachers, “mainly university students,” Ohswald says. He founded the company together with Gregor Müller in 2016, the two still own 25 percent. Investors from all over the world have invested in the Viennese start-up, the largest of which are Lane Capital and DN Capital (both US).

The company’s valuation was recently three billion euros. But the collapse in technology stocks also put a brake on the euphoria at Ohswald. His lesson from this: “We are now going to focus more on our core markets in Europe.”

Not growing so fast, but paying more attention to profitability is the motto. You want to break even in two years. In principle, an IPO is an issue, but the mood in the financial markets must improve for that.

Source: Krone

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