According to sources, Chinese multinational company and TikTok’s parent company ByteDance is bringing an end to its edtech business in South Asia’s biggest market – India. According to these sources, the company informed its local team of the decision on Monday.
For weeks now, ByteDance has been contemplating moving its local team in India to work with its edtech team in Europe, according to sources that didn’t want to disclose their identities. One of the sources mentioned that the company’s edtech team which employed about forty people will be letting go of most if not all of its employees. While ByteDance is yet to say anything about the ‘rumours’, there might be quite a number of reasons why the company would want to shut down its edtech business in India.
Last year, the company’s major offering TikTok got banned in India causing the company to reduce the number of people it employed. Its edtech business SnapSolve and music streaming service Resso continued to operate in India. The company placed more focus on these two businesses and continued to hire people to boost the operations of its edtech and music streaming business.
SnapSolve is an app that provides free homework solutions for Class 6 to Class 12 students. SnapSolve provides instant solutions to CBSE/NCERT/ICSE & State boards Maths, Physics, Chemistry, Biology & Science doubts, both Hindi and English solutions. It provides homework answers available for RD Sharma, KC Sinha, RS Aggarwal books. SnapSolve offers snap and get written & video solutions, Live & recorded Classes & conceptual Videos for a unique learning experience similar to learning apps like Vedantu, BYJUS, Doubtnut and Toppr app; Snapsolve, the learning app, provides “Test Modules” to help CBSE, ICSE and State board students for exam preparation, Chapter-wise NCERT Science & Maths Solutions, detailed syllabus, previous year papers, sample papers, revision notes, formula sheets and lots more for class 6, class 7, class 8, class 9, class 10, class 11, class 12 and droppers, IIT JEE crash course, JEE Mains, NEET crash course, competitive exams preparation etc. SnapSolve is a study app that also provides a new way of learning. It provides video explanations for thousands of problems and students can watch video explanations for some of the most popular questions on the SnapSolve learning app.
ByteDance is expected to make an official announcement soon and until then, the decision to end its edtech business in India remains unofficial speculation.