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☆ SoftBank-backed education startup GoStudent conducts another round of layoffs
  + stars: | 2024-01-31 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +4 min
SoftBank-backed education startup GoStudent has initiated another round of layoffs, affecting over 100 people, Business Insider understands. Austrian company GoStudent, billed as Europe's first edtech unicorn, offers one-to-one video tutoring. GoStudent did not confirm the scale of the layoffs when approached for comment by BI. The business and strategy adjustments aim to make GoStudent fully profitable and cashflow positive "as quickly as possible," he said. The fresh round of layoffs is GoStudent's third following cuts in September and December of 2022, all previously reported by BI .
Persons: GoStudent, Felix Ohswald, I've, Ohswald, Studienkreis Organizations: Business, LinkedIn, BI Locations: Austrian, Germany, Austria, Switzerland, DACH
☆ GoStudent, the $3 billion edtech darling, scaled fast and partied hard. The result was a mess.
  + stars: | 2023-10-24 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +23 min
These people were employees of GoStudent, an Austria-based online-tutoring startup that had quickly become the darling of the European tech scene. But 28 current and former GoStudent employees and tutors said they experienced a poorly run organization with clumsy management. Edtech companies "rarely have any major competitive advantage other than scale," a European venture capitalist who's not affiliated with GoStudent said. A GoStudent employee threatened to track down the petition's author using tutors' IP addresses, according to the German publication Handelsblatt. According to public documents updated in December 2022, GoStudent had shrunk to 15 markets and 1,500 employees, including its acquisitions.
Persons: Felix Ohswald, Gregor Müller, GoStudent, who'd, I'm, Heinz, Peter Meidinger, cofounders, Ferdinand von Hagen, Prada, GoStudent's, Dave Benett, Müller, —, Ohswald, Anthony Canavan, Canavan, Brutkasten, Norbert Wess, Harry Murphy, Duncan McIntyre, McIntyre, Neel Gupta, Anna Tuchy, Patrick Nadler, Nadler, Sarah Heuberger, Ross Slater Organizations: German Teachers ' Association, Employees, GoStudent, Conseil, prud'hommes, DBS, Safety Officers, Web, Getty, JP Morgan, Barclays, Deutsche Bank, TechCrunch, Organisation for Economic Cooperation Locations: Vienna, Austria, Silicon Valley, North America, South America, Europe, London, France, Soho , London, Dock, DACH, Germany, Switzerland, Spanish, Sweden, Swedish, GoStudent, Ukraine, Ibiza, GoStudent's, Deliveroo
☆ Leaked video shows the CEO of $3 billion GoStudent announcing fresh layoffs. Insiders and Slack screenshots suggest hundreds of staff have been cut.
  + stars: | 2022-12-16 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com   time to read: +4 min
GoStudent held a company-wide all-hands meeting Thursday after a fresh wave of layoffs. The number of employees affected isn't clear, but Slack screenshots show members dropping by 370 over two days. Screenshots of GoStudent's Slack seen by Insider show the number of members dropping by 370 over two days. GoStudent u-turned on perks intended to combat rising inflationScreenshots of the company's Slack channels show employee confusion in response to the layoffs. According to public layoffs tracker Layoffs.fyi, almost 1,000 tech companies have cut more than 150,000 staff.
☆ GoStudent, a $3 billion edtech startup backed by SoftBank and Coatue, is laying off a tenth of its staff
  + stars: | 2022-09-16 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com   time to read: +3 min
GoStudent, Europe's first edtech unicorn, is laying off 200 employees — around 10% of its workforce. The Vienna-based startup is backed by investing giants like SoftBank, Coatue, and Tencent. It joins 23 other edtech companies that have let staffers go amid the global economic downturn. GoStudent, an edtech unicorn backed by some of the world's biggest tech investors, is laying off a tenth of its workforce, the company's CEO said. Japan's SoftBank, Chinese tech investor Tencent, and New York hedge fund Coatue have all backed GoStudent, which is valued at 3 billion euros (around $3 billion).
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