Despite the sector slowdown bump, PrepInsta expects to close FY23 with over 23- 28 crores in gross revenue
Noida, 24th March 2023: PrepInsta, an Ed-Tech firm based out of Noida, which operates PrepInsta Prime an India’s first OTT platform for upskilling, certifications and skills, expects a 500 percent jump in revenue this fiscal. Despite the sector slowdown, the Noida-based startup, co-founded by three friends Atulya Kaushik, Aashay Mishra, and Manish Agarwal, closed FY22 with over 4.7 cr in gross revenue.
PrepInsta’s year-on-year growth is a testament to the broad scope of on demand learning outcomes it offers, students love the freedom to learn over 200+ skills like AI/ML/Data Science/Cloud/Python/DSA and others offered on its platform with one single subscription.
The startup claims that it is only one of the few Ed-tech brands that has been making a net profit from the first year of operations that began in 2020. Other than the massive spike in revenue, the geographical reach of PrepInsta has increased massively owing to its ability to address India’s growing disparity in job prospects.
In the calendar year 2022, the Ed-tech brand successfully demonstrated a skyrocketing placement record of over 20,000 students in the month of October, with students securing jobs in its partner companies. Students got placed in top product-based companies such as Microsoft, Amazon, Cisco, Adobe, Google, and others, as well as top service-based companies such as TCS, Accenture, Capgemini, Hexaware, HCL, Cognizant, Infosys, and others.
Commenting on the record growth rate, Mr. Atulya Kaushik, Co-Founder and CEO of PrepInsta said “ We are proudly bootstrapped and profitable from Day 1. The only investment in the business has been Rs.99 which was to buy the domain. Since then, the business has generated profits to fuel its growth. Today we are a team of 200+ folks spread over our three offices in Noida, Bengaluru and Pune. We witnessed strong growth and will continue to invest back into the business and we hope to cross 100 Crores revenue in the next 18 months.”
“We had gotten an acquisition offer recently valuing the company over 200 crores, but we decided not to go ahead with the same. Since, we think we can build a large scale company here and it’s too early to jump ship” added Atulya.
PrepInsta immersing OTT subscription model motivates students to explore more skills by allowing access to over 200 courses including placement preparation courses, AI/machine learning, cyber security, coding courses in C/C++, competitive coding, ethical hacking, cyber security, python, DSA, and other upskilling courses. In response to the market transitions, the Ed-tech platform recently announced the addition of new courses to its Prime module. Among the new courses are FAANG placement preparation, service-based company placement, web development, data analytics, Power BI, and Salesforce which enhances the chance of students landing a high-paying job.
In addition to providing students with placement opportunities, PrepInsta also provides students with internship opportunities across multiple sectors as part of its placement policy. PrepInsta, for instance, has partnered with TCS to provide students with TCS iON RIO remote internships. Students have been able to gain much-needed industry skills and knowledge through such internships, keeping them one step ahead in their professions.