Market Snapshot
According to Market Digits (2021), "The Global Online Education Market is expected to expand at a 28.55% CAGR during the forecast period, 2020–2027”.
Being one of the key players of the global online education market, Edmodo is utilized by more than 300, 000 schools across the globe. Focusing on addressing teachers, students and parents’ needs, the company primarily serves as the leading social education platform in the US among K-12 schools. In addition to the US, Edmodo’s largest markets are Mexico, Australia, Columbia, and Canada.
Being one of the key players of the global online education market, Edmodo is utilized by more than 300, 000 schools across the globe. Focusing on addressing teachers, students and parents’ needs, the company primarily serves as the leading social education platform in the US among K-12 schools. In addition to the US, Edmodo’s largest markets are Mexico, Australia, Columbia, and Canada.
Revenue
While operating under a freemium business model, Edmodo has raised a total of $77.5 million over 7 rounds in investment opportunities. Some of Edmodo’s investors include New Enterprise Associates, Index Ventures, Benchmark, Greylock, Singtel Innov8, Tenaya Capital, Learn Capital, Greenock Partners and Union Square Ventures.
After the acquisition, the Company has initiated opportunities to increase its revenue. Through the app marketplace, users pay for additional functionalities and services. Edmodo users could also opt to pay for professional online or in-person training opportunities. In addition, Edmodo’s premium Snapshot service helps teachers to more accurately gauge students’ progress.
Edmodo also generates approximately half of its revenues through international partnerships.
- In 2013, Edmodo acquired Root-1 to expand the platform’s capabilities.
- In 2018, Edmodo was acquired by China’s NetDragon for $137.5 million. Prior to the acquisition, Edmodo having struggled to turn a profit from their growing user base the company, attempted seeking for funding and shifted to an advertising business model, but none of the efforts turned fruitful.
After the acquisition, the Company has initiated opportunities to increase its revenue. Through the app marketplace, users pay for additional functionalities and services. Edmodo users could also opt to pay for professional online or in-person training opportunities. In addition, Edmodo’s premium Snapshot service helps teachers to more accurately gauge students’ progress.
Edmodo also generates approximately half of its revenues through international partnerships.
- In Mexico, Edmodo serves as the educational platform for the country’s biggest teacher’s union which has more than 1.4 million members.
- In U.K., Edmodo partners with Cambridge University Press to pilot Edmodo’s Snapshot assessment tool in 30 U.K primary schools.
- In Japan, Edmodo works with the Zoshinkai, an educational publisher and school operator, to deliver Japanese content to schools.
Covid: Realizing New Opportunities
In 2020, due to education worldwide being disrupted as a result of COVID-19, Edmodo was recommended as one of the online learning platforms by the United Nations Educational, Scientific and Cultural Organization (UNESCO). In the same year, Edmodo also worked with Amazon Web Services (AWS) in providing emergency online learning plans and free across-border cloud services to affected educational institutions in Hong Kong.
Edmodo was recognized for its capability and paramount role in managing the evolution of online learning. With a record of significant increase in new registered users and remarkable growth, Edmodo appears to be a promising business venture.
Edmodo was recognized for its capability and paramount role in managing the evolution of online learning. With a record of significant increase in new registered users and remarkable growth, Edmodo appears to be a promising business venture.
Buyers
Edmodo continues to create solutions to address the pain point of education. Aiming to make learning process seamless and more transparent, teachers can deduce the type of support students need through the platform. Students can stay freely and safely communicate on the internet while parents could stay connected and monitor their children’s learning progress.