Lido learning

About Lido learning

Lido Learning was an Indian educational technology company established in April 2019 by Sahil Sheth. Sheth, a Duke University graduate, had prior experience in the ed-tech sector, having founded Infinite Student, a video-based curriculum app that was later acquired by Byju's, where he then served as Vice President. This background provided him with insights into the limitations of self-paced video lessons, leading to the creation of Lido Learning to provide a more interactive, small-group online tutoring experience.

The company targeted the K-12 market, offering live online classes in subjects like Math, Science, English, and Coding for students from kindergarten to the 12th grade. Lido's business model was centered on a B2C subscription service. Its core offering was small-group tuition with a maximum teacher-to-student ratio of 1:6, designed to provide personalized attention. The platform incorporated features such as interactive games, animated videos, quizzes, and performance tracking to create an engaging learning environment. Lido aimed to be a primary solution for after-school tutoring, distinguishing itself from larger competitors by focusing on replacing traditional neighborhood tuition centers.

Lido Learning gained initial traction and secured significant funding from prominent investors, including Ronnie Screwvala's Unilazer Ventures, Mukesh Bansal (founder of Myntra), and Vijay Shekhar Sharma (founder of Paytm). The company raised approximately $24 million over several funding rounds and had ambitious plans for international expansion into markets like the UK, Australia, and the US. However, the company's aggressive growth strategy and high cash burn rate proved unsustainable. Despite revenue growth, losses mounted significantly. The firm faced operational challenges, including poor customer service, with numerous complaints regarding unfulfilled refund requests. In February 2022, Lido Learning abruptly ceased operations, citing a lack of funds after anticipated funding deals failed to materialize. The shutdown led to the layoff of around 1,200 employees and left customers and vendors with unpaid dues. In September 2022, the company formally filed for insolvency and bankruptcy.