binarypublishTLDR:
- Edutech startup Zenius has announced a temporary shutdown of its operations after 20 years in business.
- The company has not provided a timeline for the unavailability of its services.
- Over the past two years, Zenius has experienced three rounds of workforce reductions.
- Zenius provides educational access through online video formats via its website and mobile applications.
- As of December 2022, the platform has amassed more than 16 million users.
- Zenius has received support from various investors, including Telkom’s MDI Ventures and Northstar Group.
Edutech startup Zenius has announced a temporary shutdown of its operations after two decades in business. The company attributed the decision to operational challenges and expressed regret for any inconvenience caused to users. Since its establishment in 2004, Zenius has helped millions of students pursue admission to their desired state universities. While no timeline was provided for the unavailability of its services, the company assured users that it will continue to strive towards its vision of shaping an intelligent, bright, and enjoyable Indonesia. Zenius provides educational access through online video formats via its website and mobile applications.
Over the past two years, the company has experienced three rounds of workforce reductions, with over 200 employees affected in May 2022, followed by two more rounds in August 2022 and February 2023. Despite these challenges, Zenius has been successful in amassing over 16 million users on its platform as of December 2022. The company has also received support from investors such as Telkom’s MDI Ventures, Patrick Walujo’s Northstar Group, Alpha JWC, Openspace Ventures, and Beacon Venture Capital. In March 2022, Zenius announced its latest funding from MDI Ventures, bringing its total funding since establishment to $40 million (Rp 622 billion).
It remains unclear what the fate of Zenius’ employees will be during this temporary shutdown. The company’s decision to halt operations raises questions about the future of the edutech industry in Indonesia and the challenges faced by startups in the sector. As technology continues to play a crucial role in education, it will be interesting to see how Zenius and other edutech startups navigate these operational challenges and continue to provide educational access to students across Indonesia.
