Truly unfortunate for this: “Edukoya, the Nigerian edtech startup that once held the promise of revolutionizing online learning in Africa, has officially shut down, marking a significant blow to the country’s digital education sector. The closure comes just four years after the startup secured $3.5 million in pre-seed funding—Africa’s largest at the time.”
Like Chegg and others, free ChatGPT, Gemini and other genAIs are making things difficult for edtech companies. Yes, if students can get ChatGPT to solve the equations, and learn, why would they subscribe to your platform?
According to recent reports, Chegg lost approximately 21% of its user base, representing a decline of around 3.6 million subscribers year-over-year, primarily attributed to competition from AI-powered search results like Google’s AI Overviews.
Remember my note: by 2028, a huge number of Africa’s digital startups will become stale or obsolete if they do not evolve. Many edtech companies are collapsing around the world because what used to be a premium product is now commoditized by chatbots and AI systems.
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Four Years After Raising $3.5m, Nigerian Edtech Startup Edukoya Shuts Down, Cites Market Challenges
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