Company:TutorVista
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| Type | Private |
|---|---|
| Industry | Internet, e-learning, Education, Tutoring |
| Founded | November 2005 |
| Founder | Krishnan Ganesh and Meena Ganesh |
| Headquarters | Bangalore, Karnataka , |
| Products | Online tutoring Homework help |
TutorVista Global Private Limited is an educational organisation that specializes in online tutoring majorly in the US. The website and its content are provided mainly in English. It relies on a combination of voice over Internet Protocol (VoIP) telephony, session recording, instant messaging, file sharing and an interactive whiteboard[1]. The company mainly provides academic help by paid subscription to students in subjects such as English, Mathematics, Statistics and Science[2].
TutorVista’s operations are entirely located in India, but most of its market is abroad[3]. TutorVista’s online tutorial platform connects students with about 2,000 teachers across India, United States, UK, Australia, China, Middle East and South East Asia[4]. TutorVista is reachable through computers, tablets, and mobile phones.
History
TutorVista was founded in the year 2005 by the duo Krishnan Ganesh and Meena Ganesh[5][6] with over years of experience in e-learning. Other formation contributors included Srinivas Anumolu, Louise Kumar, and Ravi Kannan. In 2006, Sequoia Capital India and Light speed Venture Partners invested more than $10 million in TutorVista.[7]
The company expanded with the acquisition of Edurite, an educational firm in 2007[8] and a partnership with American Book Company in 2009.[9] In 2011, Pearson increased a smaller stake to a 76% majority stake in TutorVista for $127 million[10] and fully acquired it by buying the remaining 20% stake in 2013. At this point, Krishnan Ganesh and Meena Ganesh stepped down from all management roles in the Bangalore-based company and Srikanth Iyer was appointed the new CEO.[11]
Acquisitions and investments
- TutorVista had acquired Edurite, an education solutions provider, in 2007.
- Pearson acquired a 17% stake in TutorVista from Bengaluru-based entrepreneur-investor couple K Ganesh and Meena Ganesh in 2009.
- In January 2011, it purchased another 59% holding for Rs 577 crore before increasing its controlling stake to 80% shortly after.
- Two years later, Pearson acquired the remaining 20%.
- TutorVista, founded by serial entrepreneur K Ganesh in 2005, was bought by Pearson in a multi-million (around Rs. 1000 crore) deal across several years which was completed in 2013.
- Bengaluru-based edutech company Byju’s has acquired the online education ventures of TutorVista and Edurite from the world’s biggest learning company Pearson in June 2017.[12]
Criticism
The Economist has suggested that building trust for an unknown Indian brand was the biggest difficulty faced by the company.[13] There have also been several protests in the United States against those organizations that do not allow face-to-face and personalized tutoring. Officials and parents from both local and national bodies have mixed reactions regarding the ethical and practical implications of this trend.[14] In the UK it is estimated that 1 in 4 students is now tutored outside school, with offshore tutoring companies increasingly entering the market.[15]
References
- ↑ "Outsourced tutors just an ocean away - CNET News". archive.is. 2012-07-13. Archived from the original on 13 July 2012. https://archive.today/20120713214526/http://news.cnet.com/2010-1038-6126868.html.
- ↑ Luce, Henry Robinson (2006) (in en). Time. Time Incorporated. https://books.google.com/books?id=i0_uAAAAMAAJ.
- ↑ "The Evolving Indian Offshore Services Environment: Greater Breadth, Depth, and Scope". http://iis-db.stanford.edu/evnts/4587/Stanford.pdf.
- ↑ "Byju's acquires TutorVista and Edurite from Pearson | Forbes India" (in en-US). http://www.forbesindia.com/article/special/byjus-acquires-tutorvista-and-edurite-from-pearson/47449/1.
- ↑ (in en) Business India. A. H. Advani. 2005. https://books.google.com/books?id=VbRIAAAAYAAJ.
- ↑ "TutorVista founders Krishnan & Meena Ganesh venture into healthcare services; close to raising $10M" (in en-US). VCCircle. 2014-04-23. http://www.vccircle.com/news/healthcare-services/2013/07/18/tutorvista-founders-krishnan-meena-ganesh-venture-healthcare.
- ↑ M, Thanuja B. (2006-12-20). "Sequoia to put in $3 million in TutorVista". The Economic Times. http://economictimes.indiatimes.com/industry/banking/finance/sequoia-to-put-in-3-million-in-tutorvista/articleshow/856691.cms?intenttarget=no.
- ↑ "TutorVista buys Edurite Technologies" (in en). The Hindu Business Line. 2007-11-23. http://www.thehindubusinessline.com/todays-paper/tp-info-tech/tutorvista-buys-edurite-technologies/article1675509.ece.
- ↑ "TutorVista and American Book Company Link to Provide Free Tutoring for Improved Test Scores" (in en). http://www.businesswire.com/news/home/20070417005391/en/TutorVista-American-Book-Company-Link-Provide-Free.
- ↑ Sweney, Mark (2011-01-18). "Pearson buys controlling stake in TutorVista for $127m" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/business/2011/jan/18/pearson-tutorvista-india.
- ↑ Mitra, Sounak (2013-02-24). "Pearson ups stake in TutorVista to own 100%". Business Standard India. http://www.business-standard.com/article/companies/pearson-ups-stake-in-tutorvista-to-own-100-113022400239_1.html.
- ↑ Vignesh, J. (2017-07-03). "Byju's acquires TutorVista, Edurite from Pearson". The Economic Times. http://economictimes.indiatimes.com/small-biz/startups/byjus-acquires-tutorvista-and-edurite/articleshow/59427281.cms.
- ↑ "The outsourcerer". The Economist. 21 June 2007. http://www.economist.com/node/9358954.
- ↑ "Online Tutoring and the Offshoring of Education". http://tcc.kcc.hawaii.edu/previous/TCC%202007/ciano.pdf.
- ↑ Henry, Julie (22 January 2012). "Facebook generation fuels boom in online tutors". The Daily Telegraph (London). https://www.telegraph.co.uk/education/educationnews/9029841/Facebook-generation-fuels-boom-in-online-tutors.html.
Further reading
- Narang, R.; Devaiah, D. (2014). Orbit-Shifting Innovation: The Dynamics of Ideas that Create History. Kogan Page. p. 116. ISBN 978-0-7494-6876-7. https://books.google.com/books?id=KdVZAgAAQBAJ&pg=PA116. Retrieved August 11, 2017.
- Datta, Nandita (February 2008). Answers at a Fast Click. Outlook Publishing. pp. pt39–40. https://books.google.com/books?id=mDEEAAAAMBAJ&pg=PT39. Retrieved August 11, 2017.
External links
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