Pandemic has taught us the virtue of accepting uncertainty. The education sector had to come to terms with this forced uncertainty more than anyone else. Though we are almost out of its shadows, there is still a lingering fear of being denied the right of pursuing education, with all the able mentorship and learning resources, without losing valuable learning years. Ed-tech platforms have mushroomed like anything to cater to the growing demand for online education. However, due to the lack of visibility, many students and parents are left clueless as to which course to choose. Uolo, an online ed-tech company, with unique and thoughtfully designed programs, is fast emerging as a one-stop platform for online education seekers and tech-based learning portals. Analytics Insight has engaged in an exclusive interview with Pallav Pandey, Founder, and CEO, of Uolo.
1. Kindly brief us about the company, its specialization, and the services that your company offers.
Uolo is an online-first platform that brings tech-based learning programs to K-12 students via their school at a low cost. Our aim is to utilize technology to radically boost learning outcomes.
Affordability is a major challenge when it comes to disrupting the education sector with technology.
The most dominant edtech players currently available in the market are priced at around INR 20,000. In comparison, around 98% of students pay less than INR 30,000 per year in school tuition. As a result, economically disadvantaged students are unable to afford these edtech platforms. Uolo seeks to address this issue.
We believe pedagogy and technology must collaborate to provide scalable learning experiences with measurable results. Uolo partners with institutions to offer high-quality, yet affordable learning programs. In addition, we also provide state-of-the-art school-parent communication software and ERP features for school management at no additional cost.
Uolo’s programs improve are focused on improving English communication skills, getting better outcomes in mathematics, and learning block programming and coding. We also offer an after-school online program to help students with their overall personality development.
2. With what mission and objectives were the company set up? In short, tell us about your journey since the inception of the company.
Technology has revolutionized all industries, from logistics and shopping to healthcare services and even wealth management. However, it had little to no impact on our education system. There are various factors that have prevented the technology from making the necessary shift when it comes to learning.
However, there was a massive shift amidst the pandemic two years ago. The restrictions related to COVID-19 compelled schools to move out of the four walls of the classroom and the routine of typical school hours through digital products. Yet, affordability continues to remain a major concern for the broader adoption of new ed-tech solutions in our education system.
We are on a mission to provide ed-tech for the masses. We started with about 150 -schools in the year 2015 and have now expanded as a community with more than 5,500 schools and 2 million students across the country.
We don’t charge schools for our products and services; instead, we monetize by offering affordable and quality ed-tech solutions. For us, schools are not our customers; they are our partners. Uolo also allows partner schools to build additional revenue streams with our learning programs. In addition, schools that use Uolo benefit from improved student outcomes, a stronger brand image, and increased enrollments.
3. Brief us about the proactive Founder/CEO of the company and his/her contributions to the company and the industry.
Pallav Pandey is the co-founder and CEO of Uolo. He holds a degree in B.Tech from IIT, Kanpur. Mr. Pandey, a serial entrepreneur, had successful exits from two startups, FastFox and Knowlarity Communications, before incepting Uolo. Both of them were B2B companies focused on large yet unorganized markets.
Mr. Pandey aims to provide high-quality but affordable offerings to K-12 students while helping schools enhance their communication and administration with their products through Uolo. As the co-founder and CEO, Mr. Pandey is responsible for the strategy, team-building, fund-raising, and overall growth of the company.
He also appoints the best professionals for Uolo’s growth to improve their solutions and boost the overall user engagement. Besides improving teachers’ efficiency, he also simultaneously focuses on retaining parents’ expectations and students’ participation.
4. What is your biggest USP that differentiates the company from competitors?
The ed-tech industry has witnessed tremendous growth in the past two years. However, with the recent global economic turmoil and the reopening of schools, there has been a slowdown, along with a funding drought. While on one hand, we have bootstrapped companies like Physicswallah, emerging as unicorns, on the other hand, we are witnessing downturns in the situations of companies like Lido, Vedantu, and WhiteHatJunior. The sector is also struggling to maintain its relevance and acquire more learners.
While there is no shortage of high-quality offerings, the issue lies in inefficient distribution and high costs. There is a demand for ed-tech solutions. However, these challenges have made it harder for market players to reach the general public.
To fill this gap, Uolo collaborates with schools to make digital learning programs available to students. This way, our partner service providers also reduce their expenditure on marketing and new customer acquisitions. Instead, we help them introduce their services on our platform to reach more students via schools.
5. What are your growth plans for the next 12 months?
Uolo currently works with 5500+ schools and 2 million students. We are focussed to take this to 50,000 schools and 20 Mn students by FY 2025.
In the short term (next 12 months), the company is looking to create high-quality affordable learning programs. These are being done in-house but the company remains open to opportunistically acquire companies that have good learning programs.
6. What is your leadership mantra?
My leadership mantra is firstly to hire intelligent people who are motivated by our mission to take EdTech to the masses because only talented people attract talent and create a cohesive environment to feel confident working with them. Secondly, giving these A-grade people only high-level direction and letting them have plenty of room to execute along the strategic direction, is one of my guiding principles.
7. Where do you see growth coming in for the sector?
During the pandemic, parents gravitated toward digital platforms for education when every school was closed and children lost their way during critical developmental years. They served as an excellent bridge solution, but now that the schools have resumed operations, parents are debating whether edtech platforms are worth the money. This directly led to the closure of numerous ed-tech firms.
There is a need for K–12 education to intervene with edtech solutions and adopt a hybrid model. Besides improving academic performance, it will help the edtech sector grow in the coming days by innovating in data analytics and enhancing personalized learning experiences. Learning games are already being implemented in schools, as evidenced by STEM courses taught using Minecraft, for instance.
The next few years will be pivotal for us as we reshift our behavior in the post-COVID world. The same goes for education. And Uolo will continue to empower students with the affordable resources they need to co-create this future.
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PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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