📚 Lido Learning: what went wrong?
2019 – 2022 · Mumbai
An online tutoring startup offering small-group live classes, about six students per teacher, in maths, science, coding and English for school students.
$10Mraised (Sept 2021)
1:6teacher-student ratio
~3 yearsfrom launch to shutdown
⏳ The moment: It's late 2021. Online learning boomed during the pandemic and you've grown fast, spending heavily on marketing and hiring. A large new funding round you were counting on is starting to look uncertain. What do you do?
What would you do?
What actually happened
Lido raised $10 million in September 2021 in a round led by Ronnie Screwvala's Unilazer Ventures. A reported larger round from Temasek fell through. In February 2022, staff were told at a town hall that the company had run out of money and was shutting down. Employees and teachers later complained of delayed and unpaid dues, and the company moved towards insolvency proceedings.
💡 Never build your spending on funding you don't have yet. And when trouble comes, tell your people early.
Sources: YourStory · YourStory (dues)