Mittal’s candid remark raises an important question facing Edmodo and the “freemium” strategy: How can an edtech company convert virality into financial sustainability when neither its direct users (teachers and students) nor the organization (schools and districts) are willing to pay? Virality pays off when businesses can advertise to or sell data about their users. He acknowledged that “we haven’t quite solved it yet.” “If I can only 30 cents or 40 cents per user per year, would be profitable,” Vibhu Mittal, the company’s CEO, mused on a panel at the ASU+GSV Summit conference earlier this year. Yet finding a stable revenue source has proven elusive. With more than 65 million users in 370,000 schools around the world, Edmodo boasts the sort of “viral” adoption that makes entrepreneurs and investors salivate.
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