The last time we pondered on the SWOT analysis of India’s most popular online tutoring platform, Vedantu. This time we will do a complete SWOT Analysis of Doubtnut – one of the fastest emerging e-learning platforms of India.
Doubtnut is one of the fastest-growing e-learning platforms with more than 50,000 paid subscribers, Doubtnut is a go-to platform for Indian students. Doubtnut uses image recognition technology to provide solutions to various mathematical and scientific questions and is a go-to platform for students to clear their doubts. It is regarded as a “Boon for students’ ‘ preparing for JEE-NEET. It is fast, easy to use, and has a decent UI for its application.
As Doubtnut is all online, its success is derived efficiently using digital marketing techniques. And keeping yourself upgraded with the latest digital marketing trends by attending the Free MasterClass on Digital Marketing 101, hosted by Karan Shah, CEO and Founder of IIDE is very important. Book your seat now.
Now, right before we delve into the SWOT Analysis of Doubtnut, let’s look at the background of the company, its founders, financial status, competitors and products.
About Doubtnut
(The 2 Founders of Doubtnut, Source: Timesnext)
Doubtnut is essentially an Indian educational app founded in 2016 by two entrepreneurs Tanushree Nagori and Aditya Shankar with their parent organization being Class 21A Technologies. It is headquartered in Gurugram, India. It caters to the doubts of students from class 6th to class 12th and also to the ones who are preparing for highly competitive exams such as JEE and NEET.
It uses image recognition tech to solve the doubts of students. All a student needs to do is just upload a photo of the questions and boom Doubtnut will find the solution to that question.
Doubtnut received its first funding from CureFit by Ankit Nagori of around 100K USD in 2017. It has subsequently received fundings from Omidyar Network and Waterbrigdge amounting to 4,70,000 USD in 2019. The total funding raised by the company is 49 million USD with many investors to name a few are Sequoia capital funds, Tencent Holdings and Omidyar Network.
| Founder | Tanushree Nagori & Aditya Shankar |
|---|---|
| Year Founded | 2016 |
| Origin | Gurugram, Haryana, India |
| No. of Employees | 513+ |
| Company Type | Private |
| Market Cap | N/A |
| Annual Revenue | $ 84.6 Million (2020) |
| Net Income/ Profit | N/A |
(Doubtnut Android Application, Source: Inc42)
Products & Services by Doubtnut
- Doubt Solving
- Online Classes
- Quiz
- Exams
- Study Materials
- Books & PDF
Competitors of Doubtnut
Doubtnut faces stiff competition from other e-learning platforms namely:
- Byju’s
- Doubtnut
- Meritnation
- Unacademy
- Brainly
- Toppr
Now we have a clear idea of Doubtnut’s core business, let us now dive into the SWOT Analysis of Doubtnut.
SWOT Analysis of Doubtnut
A SWOT Analysis is a summary of a company’s strengths, weaknesses, opportunities, and threats. This method allows an organization to get a clear picture of its current market position and compare its performance to its competitors.
To better understand the SWOT analysis of Doubtnut, refer to the infographic below:
Now first let’s begin with the strengths of the company from the SWOT analysis of Doubtnut.
Strengths of Doubtnut
These are the places where Doubtnut is the best in its class. Places that can be used as a foundation for building new policies to better strengthen the position of the company in the market.
- Brand Awareness and Recognition: Doubtnut is surely one of the most recognized brands in India and especially among students. It’s a go-to tool for students for clearing their doubts.
- Brand Portfolio: The diverse brand portfolio has enabled Doubtnut to target various segments in the Indian e-learning market thus enabling it to earn good profit.
- Strong Relationships with Suppliers: Suppliers in this case are the teachers. Doubtnut has very good relationships with top professionals in India thus ensuring quality education to its students
- Successful Market Record: Many students have shared testimony of how innovative doubt solving by Doubtnut has helped them in their preparation for exams. This ensures a good market track record.
- Good Domestic Market: Indian e-learning market is growing faster than ever. Doubtnut being one of few companies that laid the foundation of this market enjoys benefits from this.
- Frequent Innovation: Starting with the K12 segment in 2016 on the internet reaching towards launching mobile applications for all the segments. All is possible due to the fast pace of the development of innovation and Doubtnut adopting those facilities at its best.
Wait a Minute. You might be thinking that what kind of development of innovation does Doubtnut adopt? Well, the answer is, Doubtnut transformed with changing digital marketing needs. Digital marketing up-gradation is very quick such as the latest WordPress themes & plugins, upgraded content strategy, SEO techniques, the latest ad designing, app optimization etc. are all part of development in innovation which Doubtnut followed.
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Weaknesses of Doubtnut
Weaknesses are the loopholes where special emphasis is required to overcome the shortcomings and ensure the growth of the company. The major shortcomings of Doubtnut are as follow:
- Low Return on Investment: Even though Doubtnut has a stable balance sheet, their return on investments or the profit in comparison to the capital invested is still less.
- Lack of Workforce Diversity: Doubtnut is not diverse enough given the fact that most of its growth has been its domestic market so far.
- Multilingual Support: India is a multilingual country and people speak different languages here. This is the area Doubtnut really needs to work on to stand out in the market. It could seriously increase the market penetration of Doubtnut.
- Poor Implementation of Technology in Progress: Doubtnut still needs to harness the power of technology it possesses in order to compete efficiently in the market.
Opportunities for Doubtnut
These are the areas that hold the key to the future for a company. Places where a company can focus in order to ensure long-term growth.
- Artificial Intelligence: With the help of Artificial Intelligence (AI) Doubtnut can predict student demand in a more comprehensive way. It can also use AI to further enhance the quality of education
- Adjacent Markets: Doubtnut can explore the strategies of the company in the adjacent market to further enhance its growth by bringing in new features to its existing range of products and services.
- Entering in International Markets: Globalization along with digital marketing and social media can decrease the cost of market entry and marketing in foreign countries. Digital marketing can help this company do wonders in the international market and a strong case for itself at the global stage
- E-commerce Business Model: Doubtnut could use this business model to tie up with local institutes to further boost its network. Byju’s, Doubtnut’s close competitor has already done this with Aakash Institutes boosting its network and consumer base. Doubtnut could do something similar in order to strengthen its position in the market.
Threats to Doubtnut
There are certain roadblocks that could hamper the growth of the company not necessarily in the present but in the future. Management should be prepared to face such threats and counter them efficiently.
- Privacy of Data: As the Doubtnut education system works online it can increase the chances of threats from hackers and affect the privacy of data.
- Competitors: Doubtnut competitors like Byju’s, unacademy, toppr etc are grabbing the Indian education market very quickly. This is always a threat for Doubtnut to sustain its position in the market.
- Fear of Acquisition: Byju’s and Unacademy are reportedly in talks with each other to acquire Doubtnut for nearly $125 Million.
This ends our complete SWOT analysis of Doubtnut. Let us conclude our learning below.
To Conclude
Doubtnut is surely an established e-learning platform in India. It is a go-to platform for students to solve their doubts and get expert training from the comfort of their homes. In the SWOT Analysis of Doubtnut, we saw that the company enjoys strong brand awareness and recognition among students, also it has really good relations with the key relations and enjoys a robust domestic market. However, less return on investments and lack of multilingual support is an area of concern for this company.
Developments in Artificial Intelligence and International markets hold the key to Doubtnut’s bright future. Though the company is threatened by the new entrants with deep pockets and government policies. Another place for Doubtnut to focus on is its digital marketing campaigns. As we discussed earlier, digital marketing and social media can reduce the cost of entering a new market and Doubtnut can really use this boon to further strengthen its position.
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We hope this blog on the SWOT analysis of Doubtnut has given you a good insight into the company’s strengths, weaknesses, opportunities and threats.
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