We are publishing an interview of Mr. Mudit Jain Co-Founder & CEO, Rishabh Jain Co-Founder & COO, Qriyo.
About the founders
Mudit Jain, Co-Founder & CEO – Mudit is currently serving as CEO and is also heading product development. He was heading the India division of Finmechanics as Country Head. After graduating from IIT Bombay in 2011, he worked with consulting arm of PricewaterhouseCoopers US in the areas of strategy and analytics.
Rishabh Jain, Co-Founder & COO – A truly multi-dimensional personality, Rishabh, who graduated from IIT-Bombay is serving as COO to steer Qriyo operations to 6 sigma quality. Words that best describe Rishabh are businessman, civil engineer and poet. He is a published author. Associated with various startups in past, he brings his management, processes and operations experience to Qriyo.
What is the problem you are trying to solve? Can you share with us any insights that led you to believe that this is a big enough problem?
Students in India need to make big efforts to get a right tutor for all courses. Qriyo makes a perfect platform to ensure you get a right home tutor not only for academic studies but also for competitive Exams, Yoga, Music, Dance, Art & Crafts and Languages as well.
When Mudit was planning to do a yoga course, he searched online to find a capable yoga teacher. What the search gave him were dozens of phone numbers. Of these, some didn’t respond, some responses were not fruitful, many didn’t want to come over to his house and others wanted a hefty sum of money. However, in this entire process, he got an idea.
There was a problem and a solution to it was a must . Hence he started building a platform. And in January 2016, Qriyo was born offering over 400 courses in academics, co-curricular, extracurricular, and fitness activities. Qriyo has been backed by UAE based venture funds NB Ventures and Idein Ventures.
What is the uniqueness about your Startup?
Unlike other portals, a student just needs to raise a request via Qriyo App and most suitable tutor will be matched on standardized pricing. Students do not need to talk to many tutors or tuition agents, haggle for pricing and judge the subject knowledge. Their approach is extremely data driven, which helps in automating the complex match making of tutors and students.
What is the revenue model? What is the logic behind it? What is the model you are following – Free / Freemium / Premium etc. ? Explain your thought process.
Qriyo does not sell leads to tutors or students. They work on transactional commission model and a one-time registration fee from customer.
Who are the consumers that you are targeting? How is this going to affect them?
our consumers are students as well as tutors. in present scenario, the students talk to many tutors and get different quotations that too at different prices with no assured quality. We, at Qriyo, help them in getting one tutor at fixed price with assured quality.
Similarly, the tutors, in current scenario, struggle to find right right leads. We help them in getting right leads and charge a little commission only when they get tuitions.
What is the big picture of your startup? Will it lead to something bigger? If so, how?
Private tutor market is stagged at 25 billion dollar in india. We are making attempts to build in personal tuition market which presently occuies a marginal market and there is huge scope for the same. Presently, we are operational in seven cities and would be expanding to other cities too as there is a big scope of personal tutoring in and outside India market.
What is the success story of your startup in your own words?
Please write about the challenges that you or your startup faced and how you overcome them to achieve success. Make sure it should inspire others.
Till date, Qriyo has evaluated over 15,000 tutors and has served 5000+ students. They maintain 70% renewal rate and more then 90% first tutor match ratio. Qriyo brands its homes tutors as ‘Qriyo Gurus’ for a host of lesson types which range from academic to creative to sports oriented.
Any other information about your startup that you would like to share with us.
The home tuition market in India is segmented between 2 channels, online lead generation aggregators and local tuition agencies. Companies like Urbanpro, Urbanclap, myprivatetutor etc are all competing in aggregator spaces. Hence, Qriyo is building a bridge between these two, building the best of both the worlds.
You can visit Qriyo.com for more details.
Thanks Qriyo. Best of luck!