TutorVista
| |
Private | |
Industry | Internet, e-learning, Education, Tutoring |
Founded | November 2005 |
Founder | Krishnan Ganesh and Meena Ganesh |
Headquarters | Bangalore, Karnataka, India |
Products | Online tutoring Homework help |
Website |
www |
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. 13 July 2012. Archived from the original on 13 July 2012. Retrieved 6 October 2017.
- ↑ Luce, Henry Robinson (2006). Time. Time Incorporated.
- ↑ "The Evolving Indian Offshore Services Environment: Greater Breadth, Depth, and Scope" (PDF). iis-db.stanford.edu. Archived from the original (PDF) on 2007-06-11.
- ↑ "Byju's acquires TutorVista and Edurite from Pearson | Forbes India". Forbes India. Retrieved 2017-10-06.
- ↑ Business India. A. H. Advani. 2005.
- ↑ "TutorVista founders Krishnan & Meena Ganesh venture into healthcare services; close to raising $10M". VCCircle. 2014-04-23. Retrieved 2017-10-06.
- ↑ M, Thanuja B. (2006-12-20). "Sequoia to put in $3 million in TutorVista". The Economic Times. Retrieved 2017-10-06.
- ↑ "TutorVista buys Edurite Technologies". The Hindu Business Line. 2007-11-23. Retrieved 2017-10-06.
- ↑ "TutorVista and American Book Company Link to Provide Free Tutoring for Improved Test Scores". www.businesswire.com. Retrieved 2017-10-06.
- ↑ Sweney, Mark (2011-01-18). "Pearson buys controlling stake in TutorVista for $127m". The Guardian. ISSN 0261-3077. Retrieved 2017-10-06.
- ↑ Mitra, Sounak (2013-02-24). "Pearson ups stake in TutorVista to own 100%". Business Standard India. Retrieved 2017-10-06.
- ↑ Vignesh, J. (2017-07-03). "Byju's acquires TutorVista, Edurite from Pearson". The Economic Times. Retrieved 2017-10-06.
- ↑ "The outsourcerer". The Economist. 21 June 2007.
- ↑ "Online Tutoring and the Offshoring of Education" (PDF).
- ↑ Henry, Julie (22 January 2012). "Facebook generation fuels boom in online tutors". The Daily Telegraph. London.
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. Retrieved August 11, 2017.
- Datta, Nandita (February 2008). Answers at a Fast Click. Outlook Publishing. pp. pt39–40. Retrieved August 11, 2017.