Smart Ranking and TalentTech IT holding made a list of the top 45 Russian EdTech companies in the second quarter of 2020. The total revenue of the companies in the ranking for this period amounted to 6.2 billion rubles (equivalent to $80 million), which is 26.5% higher than in the previous quarter and 87% higher than in the second quarter of last year.
At the end of the second quarter of 2020 the leader in the online education market changed. For the first time, in terms of revenue, the online university of modern professions Skillbox became the leader and surpassed Skyeng school of foreign languages - the leader of the 2018-2019 rankings. Experts explain that during the pandemic the interest in foreign languages remained at the same level, while digital professions started to be perceived by people as a survival factor.
In the digital professions training market companies have experienced growth. Skillbox grew by about 40% over the quarter, while Geekbrains and the newcomer to the Top 10 Yandex.Practicum grew by about 60%. Geekbrains, for example, said it had had a 740% increase in the number of new students during the ‘covid period’ from mid-March to June 2020.
At the same time, against the background of general growth, about a third of the rating participants experienced a slight drop in revenue compared to the first quarter of 2020. For some of them, this is a seasonal factor.
Most of the top 45 companies claim that the interest from investors is growing. Some said they were in the process of negotiations. The companies also note the trend towards combining different forms of presenting educational information.
HSE (Higher School of Economics)