“Education is a lot about storytelling. At the core of it, that’s what it is”, says Ronnie Screwvala, the co-founder of edtech startup upGrad. As we sit across from each other at a Gurgaon hotel, it quickly becomes clear that storytelling is the order of the day. Screwvala is talking about storytelling as a tool to reshape careers and ambitions, but he is, at the same time, weaving a story himself. The story of four-year-old upGrad.
When upGrad started in 2015, it was an unusual move for Screwvala, who was known more for his endeavours in media and entertainment.
Varsity blues: upGrad struggles to make its mark
UpGrad has been in the market for external funding for at least a year now. But while other edtech startups have raised VC cash since, upGrad's fundraise still hasn't happened. Why is no one interested in upGrad?
Ronnie Screwvala-promoted upGrad is trying to project itself as the leading player in online learning
Its revenues and losses, however, say otherwise
It has chosen to go after high ARPUs, but at the cost of scale
With just 10,000 students served over 4 years, how does upGrad correct course?