BitClass, an EdTech startup that offers a platform for independent teachers to conduct online classes, has acquired Chase, a Bengaluru-based exploration and learning digital platform for new generations. The financial details of the deal were not disclosed.
Chase, started in 2019, provides courses in photography, design, content writing, social media, Instagram marketing, and other creative opportunities. After the latest development, 12 Chase employees, including the company's founders and engineers, have joined the Bengaluru-headquartered BitClass.
BitClass offers two-way interactive online live classes facilitated by the best teachers, professionals, and domain experts from around the globe – ensuring the quality of the content, curriculum, and unmatched learning outcomes.
Established in April 2020 by serial entrepreneurs Gunjan Kejriwal and Utsav Tiwary, BitClass is focused on helping individual teachers, trainers, and coaches set up and grow their online live classes and build businesses online. Since the launch of the platform, around 250,000 paying learners have enrolled in its live classes across 450 unique courses, which are taught by over 5,000 teachers from all walks of life.
BitClass enables a Try and Buy experience for learners, where they can explore as many courses as they want paying a small ticket size of Rs 99 for a two-day workshop, and then go deep buying the full courses. This also helps the company have extremely low acquisition costs, as the conversions to full courses are very high in the LIVE workshops. After that, users can deepen their learning by buying the full courses, which are priced between 1,500 rupees (US$20.20) to 50,000 rupees (US$672.60).
According to Gunjan, Chase complements BitClass's goal to create the world's largest platform for learning anything.
Speaking on the latest move, the Founder & CEO of BitClass has said, "We are always looking at great teams who can become a part of our mission to ensure that anything that can be taught is available as a live online course for learners. We will certainly look at more acquisitions and acquihires if we get the right fit."
In May this year, BitClass had announced the launch of its mobile application that brings a campus-like experience for learners worldwide.
Life at the online campus that the BitClass team has created, is not just limited to attending classes – one can attend amazing live online events, shows, concerts, catch up with people attending other courses in a virtual cafeteria, and browse through a library full of content.
BitClass also ensures that the ecosystem remains beneficial for all stakeholders. As a business model, BitClass shares a certain percentage of revenue with the teachers, out of the earnings generated with students’ enrolments into cohort-based courses.