Unheard Adda 24/7 Story: The Hidden Ed-tech Worth $4B

Story of Two UP Men Making Ed-tech Big: Adda 24/7 Coaching Startup

Have you ever searched for the best online coaching apps for a bank or government exam? If yes, then you must have encountered a popular app called Adda 24/7. Adda 24/7 is an excellent app for preparing for various government exams. The popularity of the app has earned it approx $10 billion in funding from multiple sources.

But this funding and success don't come in one day; you need to struggle and work hard to achieve this feat. So in this article, we will read the success story of this wonderful app called Adda 247.

Beginnings of Adda 247 Story

In 2010 Anil Nagar and Saurabh Bansal came up with the idea of adda247. The two did not hail from any influential family. They were ordinary residents like us, but their hard work was extraordinary. Let's first look at the story of Anil Nagar.

Story of Anil Nagar

Anil Nagar was a resident of a small village in UP, namely Dankaur & his parents were not well-educated. But they wanted a bright future for their son. So they encouraged Anil to go for IIT JEE coaching. Anil did a lot of hard work in his studies and managed to crack the exam. He got admission to one of the premier institutes of India, IIT-BHU. After graduation, he got a job in Cognizant in the USA.

But being close to his roots, he felt a need to do something for his people. He came back and started a Bank Power in Gurugram, Haryana. It was a callous decision, but he made that decision. Anil Nagar says that he had seen the struggle of a commoner for education and employment. Therefore it was his wish to do something for the same.

Story of Saurabh Bansal, the co-founder of Adda 247

Saurabh Bansal was a close friend of Anil Nagar. Anil Nagar told him about his initiative for educating poor people. Saurabh was impressed, and the two collaborated for starting Bank Power. Bank power was set up to help not so financially strong aspirants in sailing through Bank examinations. 

Why not IIT-JEE coaching?

After going through the story of the two friends, their motive is clear. But one question comes to mind. They were IIT graduates, then why didn't they give coaching for the same?

To this, Anil Nagar replied that they were determined to do something in the field of education. But they observed that so many players already gave two entrance examinations, namely IIT-JEE and CAT coaching. The stiff competition and the need to do something unique persuaded them to prepare students for something else. So they decided to give coaching for banking exams.

The first batch results:

Gradually, Adda 247 got its first batch of 29 students. You will be amazed to know the success rate. Out of 29 students, 25 had cracked the banking examination. The hard work and the teaching of the two friends bore fruit. The news of the success of the students spread like fire. They started getting more students.

Career Power & adda 24/7 Story

Two friends had become well-experienced in coaching but were lacking entrepreneurship skills.

Gradually, they realized that they need a common name to prepare for all government job exams rather than banking exams. So they came up with a neutral name, i.e. Career Power.

Initially, they were teaching themselves, but by 2016 they could hire approx 500 teachers for offline classes. They managed to get fundings of $3 million from Sterlite Technologies. The funding helped the founders to come up with an online platform named Adda 247.

Adda 24/7 Story - Growth

After the beginning of this ed-tech platform, many students came forward for coachings.
Adda 247 also got major fundings from different sources. For instance, Infoedge (India) Ltd. and Asha's impact made Series B funding of six million Dollars, and STL made funding of about $4 million to this company.
From offline platforms, they switched to online platforms.
The app has diversified its services with the advancement in technology. Live video classes, on-demand video courses, mock tests, and other essential study material related to Government job preparation have been provided for the users.
This ed-tech mobile app features various platforms like the Adda247 app, youtube channel, Career Power, SSC Adda, Teachers Adda, etc.

Adda 24/7 Story - Present Success

The present success of the app is well reflected in the following statements:

Last year out of all the candidates selected for government and banking jobs, 90% had used this app in their preparation.
Currently, Adda 247 is proud to host approx 40 million users and 3 million daily users.
The app has been successful in reaching Tier3 city and small-town students. In this way, the app has succeeded in making government job preparation more inclusive.
Besides a robust online presence, this Edtech company has more than 450 coaching centres, experienced professionals, and teachers.
It is claimed that since the beginning of this endeavour, more than 100 million students have been trained to crack reputed government exams.
The company has managed to record ten times higher revenue and user growth in the past three years. The company recorded a revenue of Rs. 51 crore last year.

The goals of the company:

The growth of an app or a business is an ever-evolving process, and you can't stop improvising yourself after a time. The same goes with this app. The founders have revealed that they have been trying hard to include more exam categories like GMAT, CAT, CRE, etc., new languages and broaden its presence across India.

It shows that you have to keep growing and improvising yourself for matching market standards.

Sum it up

Adda 247 was a brilliant app in terms of content and information. This app has not only achieved milestones for itself but also helped many students in making their careers. The success of this app is an indicator of the fact that a unique idea, combined with quality services and hard work, will never let you fail.