- Edtech Netzun saw a 750% growth in the first half of 2020, pushed by the rise on e-learning amid the pandemic;
- The Peruvian startup is now planning its expansion to Colombia, Chile, and Mexico seeking to “democratize knowledge in the region.”
Peruvian platform Netzun, specialized in micro-learning, saw its business rise 750% in the first half of 2020, on a year over year comparison, pushed by the spike in search for online education during the pandemic.
But even if this interest eventually drops, as cities resume activities, the company believes that this movement may slightly reduce the number of new subscribers, but not to the point of affecting the growth trend in this sector in general, as the consumer has changed and tried new options that were previously unknown. “We are in a consolidation stage in the Peruvian market,” said Miguel Romero, co-founder and COO at Netzun to Colombian newspaper La Republica.
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According to the exec, Netzun is forecasting 900% growth until the end of 2020, reaching sales of 5 million soles (about $1.4 million).
Relying on two main factors, their courses with premium content and a changing context pushing the e-learning market forward, the edtech expects to end 2021 with similar growth and hit 10 million soles in sales, around $2.8 million.
With more than 100 virtual courses in its portfolio, Netzun seeks to double its offer by the end of the year. “The courses with the highest demand are Digital Marketing, [Microsoft] Office, and premium courses. There was an average of 4.5 million minutes of Peruvians connected since the quarantine began until it ended on June 30,” the COO told the media outlet. Other categories include marketing; graphic design, and soft skills.
As the Peruvian startup scales, international expansion is the next goal. Netzun will soon arrive in Mexico, Chile and Colombia. “We are focused on democratizing knowledge in the region. In the medium term, we plan to expand our portfolio towards options in other languages,” the company stated. Currently, Netzun accounts for more than 270 thousand users, between 18 and 29 years old, and more than 30 thousand added by month.