Edtech startup space has been growing exponentially. However, not all of them had a dream run. Owing to various factors, many of them had to shut shop midway. The five major edtech failures are:
The startup raised almost $73.4 million in venture capital and debt and was ultimately bought by Intel for $15 million. KNO offered interactive e-textbooks and flopped as Apple took over the market and its shift in focus to an app-based textbook platform failed to gain traction.
KNACK FOR TEACHERS
The main reason of its shutting down was a very low number of users for a very long time. As per the head Jarrod Drysdale, Knack was just not a solution teachers or students wanted. It was termed as a different kind of online grade book built on the truth that teachers are short on time and support.
It was treated like a side project and never got the attention or traction it needed according to the founder AJ Juliani. Three months after it shut down, two other similar companies received multi-million dollar rounds, simply because they were at executing and shipping.
The online tutoring marketplace didn’t work out despite respectable venture capital funding. The major problem was that once the tutor and student found each other, there wasn’t much to stop the two from cutting Tutorspree out of the transaction and depriving the company of its cut
Aimed to help students become better prepared for college, Alleyoop was once termed as Zynga for learning. It claimed to have 100,000 users at one point of time. But alas, it came crashing down too.