Today, the Indian startup with Physics wallah is one of the most revolutionary startups in the ecosystem. It was started by Alakh Pandey who is a college dropout. Today physics wallah has a different identity in ed-tech startups. There are more than 6lakh active users on their app every day and daily every child consumes more than 90 minutes of their content.
The biggest thing is where the big ed-tech startups are fired their employees and the ed-tech startups like Vedantu, Byju's and Unacademy. But the physics wallah is in a profitable business there. More recently, the physics wallah has made a funding of 100 million and recently his valuation has become 1.1 billion dollar.
So how did the physics wallah beat the big players of the market and what were their strategies and what should we learn from them.
It started from 2014 when most of the children used to take IIT Mains and NEET coaching offline and at that time this coaching was offline only, so the coaching center in which these children studied, the coaching center charged ₹ 1 lakh to ₹ 2 lakh, what if someone did A normal child could not afford this fees.
So in the same year begins Unacademy and Byju's, who were launching the courses in the market for IIT and other big exam also in 40 to 50 thousand and disturbing this market of ed-tech. And this year Alag Pandey starts his coaching centre from Prayagraj.
Alakh Pandey Belongs From A Normal Family And He Knows That Good Education Cannot Afford Every Child That's Why He Started His YouTube Channel In 2016 And He Started Providing Free Education And By The End Of The Year Of 2017 His Only There were only 4000 subscribers. But the children started liking their method of teaching and in the year 2018, they have reached up to 22 lakh subscribers.
Students started liking his facial expressions, his way of mimicry and his way of teaching and children were easily getting their concepts clear and understood very well and by 2019, children started copying alakh Pandey. Had done it.
And after this comes covid, due to which all the classes and schools were all online, all the school coaching centers in India were all closed. Here, apart from Pandey, who is giving online coaching of three things Realised, they are targeting the premium sector, whose fee is between 30000 to 50000. And the second thing he realised is that the classes he gives to children on YouTube are not a complete package for children, children also need separate doubt classes, they also need separate test paper solution classes. And the third thing he saw is that all the ed tech startups in India who have come for online funding, they have nothing to do with the future of children.
After this, Alakh Pandey launches an app of his own with Physics wallah, in this he provides an affordable course to the children, you can prepare for engineering in just ₹ 999. After this, the app here proves to be a hit and more than 2lakh children come to their app. And suddenly it crashes because that app could not bear so much load. The same thing happens on the first day, the same thing happens on the second day also the same thing happens on the third day and on the fourth day about 35000 children enroll in their course. And on seeing this, there were 13lakh monthly users on his app.
After this a big offer comes to Alakh Pandey from a big ed tech company. That company asks for 10% stake from these for ₹ 75crore but Alakh pandey don't say yes to this deal. And after that, what happens to them is what a very big company does to a startup. And now big companies had started trying their best to ruin them and by offering crores of rupees to all their teachers, he starts calling them in his company. And here Alakh Pandey was completely upset because he did not have any teacher for teaching. And here a lot of mails were coming to them from the children about how we will complete our courses.
In such a situation, 90% of startups fail because if you do not sell your stakes to a big company, then the big company spends all its money and destroys the small startups. As was happening with Physics Wallha, a founder's big thinking brings life to his startup. Which was done by Alakh Pandey and Alakh Pandey started playing aggressive. On 21 February 2021, Alag Pandey comes live on his YouTube channel and he aggressively says that if you take one, then I will create a 100 Alakh Pandey. This is the message I wanted to give to those big companies. This was the same strategy that Steve Jobs used to play with Microsoft.
And here the message was very good among the children and all the children started messaging the big company on their Twitter handle on Facebook and on Instagram. But here the big company also lags back because they also fear their reputation.
And after that Alakh pandey launch a new team and start growing all over india and after that physics wala open his 20 education center in 18 cities of india.
If we look at their app today, their Daily user is more than 6 lakh and their monthly user is more than 28 lakh and every student consumes content for about 90 minutes every day. And if we look at his YouTube channel, he has started about 10 YouTube channels whose total subscriber is 11 million.
If we look at their revenue, their revenue was Rs 29 crores in the 2021 financial year and it increased to around 270 crores in the financial year 2022. And now the valuation of Physics Wala has become 1.1 billion-dollar by doing a funding race of about 100 million.
So from here we learned that physics wallah worked on highest customer satisfaction and if we go to play store and see physics wallah has highest rating from byjus and also from unacademy.
Comment if you use Physics wallah app.
ReplyDeleteNice Post.. very knowledgeable
ReplyDeleteThank you
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