100 Million+ Dollar Investment in Online Education; Online Learning Giant betterU does not guarantee employment.

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Today, India’s leading newspaper Hindustan Times carried a 2 Page Advertisement on its front page.  The advertisement started with the headline “Education to Employment” and ended with a Note ” betterUhttps://www.betteru.in does not guarantee employment.” And that was interesting to trigger some investigation into it.

BetterU launches online portal in India
BetterU launches online portal in India

betterU reported its office in E-25 Noida Sector 63. I personally visited there and found that the premises belong to VCare Corporation, a call center.  I met the company representative who told that this is slated to become the support center for betterU.

Multi-Million Dollar Investments in the organization

India’s leading Media arm HT Media has reported investing Rs. 51.23cr (Canadian $10mn) in Canada-based betterU Education Corp.

Brad Loiselle, President and CEO betterU  on his Linkedin profile mentioned that With our 150 Crore ($30M) investment from Times of India, betterU will become India’s largest marketplace for online education and supporting employment initiatives.

In another Press Release around January 16, betterU leaked the news of a US$100 million equity investment at US$3.00 / share from an overseas private investment fund. It further stated that “The Fund to be set-up in the Cayman Islands by January 15th, 2018 is in progress to being completed.” It is to be noted that The Cayman Islands is one of the most well-known tax havens in the world. The Cayman Islands has become a popular tax haven among the American elite and large multinational corporations because there is no corporate or income tax on money earned outside of its territory.

With all above figures, betterU becomes the largest Investment in Online Learning targetting Indian students. But the Cayman Island part remains the grey spot.

Some stats on the betterU domains:

  1. http://whois.domaintools.com/betteru.ca states that the domain has been first created on Created on 2016-06-08
  2. http://whois.domaintools.com/betteru.in states that the domain has been first Created on 2016-06-08 with the following Admin address: Skillsdox India Private Limited, 213 Lucinda Cres, Ottawa, Ontario, K1W0A1, CA.

betterU Business Model

betterU has partnered with several Off The Shelf Course providers in India and Abroad. Some of them listed are:

Adobe, Skillsoft, EdX, Udemy, PluralSight, EdCast, Acadgild, Aspiring Minds, Ed4Online, Code School, Digital Vidya, Edureka, eUniversity, FinSafe, iTrack, Fullbridge, Eduonix Instritute, IELTS Online, ICICIDirect.Com, SoundBasics, TrackInvest, BSE Varsity, Career Academy.

The betterU representative informed that betterU is a marketplace for online education like Amazon.com. With such a huge collaboration, betterU is slated to become one of the largest marketplaces in the Online Learning Ecosystem.

You can enroll for a course, pay and start learning immediately. There are courses, subscriptions, and assessments for learners.

I tried the online chat and the representative was quick to respond.

One inspecting the various Social Media Properties, I found that:

  • BetterU has not tweeted since – 8 June 2017 – https://twitter.com/betterUCanada
  • BetterU has not blogged since – 30 May 2017 – https://blog.betteru.in

The Doubts

Everybody is cashing in on the education and unemployment market in India.

Now million dollar question is where do the companies like Skillsoft and Udemy go, which seems to be the direct competitors. And why are they collaborating with betterU.

I am still not convinced of this investment and the partnerships.

To discuss this deal, contact me using the following form.

 

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