E-Commerce giant Amazon plans to close down its edtech platform in India. Amazon announced to shut down its Amazon academy in a phased manner starting from August 2023. However, no reasons were cited for this unpredicted turn.
The current batch of students will get their refund. However, students can access the study material online until 2024.
Edtech Platform ‘Amazon Academy’
The US Based E-Commerce giant Amazon launched its online learning platform named Amazon academy last year. Amazon Academy deals with preparation strategies and classes for students preparing for prestigious engineering colleges.
Amazon academy has over 5 million downloads on Google Play. The platform offers services like learning material, live lectures, mock tests and many additional benefits. Along with this, it also helps students practice Physics, Maths and Chemistry for govt. engineering exams like JEE Mains and Advance.
Problems of Edtech Platforms
The market of online learning was at its peak during the covid times. But now the whole scenario of online education has changed. Covid doesn’t exist now!
Similarly, the business of online learning platforms is at loss now. The reopening of schools and colleges has caused a severe downfall to edtech platforms. Students can now get colleges, coaching and schools.
Edtech giant Byju’s announced the layoff of its 2500 employees to turn profitable. In addition, other players like Vedantu, Unacademy, Whitehat Jr and others also announced layoffs.
Overall, the present condition of the edtech segment is not strong. Startups like Brainly, Lido learning, Udayy and others have already closed their operations.
Recently, Amazon India laid off 10000 employees globally which impacted hundreds of employees in the country. However, this layoff is a part of the company’s annual operating planning review process. Surprisingly, the labour ministry summoned an official of Amazon in Bengaluru.
Even in the e-commerce segment, the company has struggled to increase its business. In categories like fashion and beauty, Flipkart and Nykaa are the market leaders respectively.
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