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Sim Shagaya, the Founder and CEO of the popular digital learning platform, uLesson, has announced the slashing of subscription prices on its app by 50 per cent. The CEO revealed this in a tweet made on his X profile.
According to Mr. Shagaya, the price cut was implemented to support Nigerian households, many of which are undergoing intense hardship occasioned by the economic policies of the Bola Ahmed Tinubu-led Federal Government. The CEO said his intervention is intended to support Nigerian families at this time and beyond.
“These are difficult times for households. uLesson will drop educational software subscription prices by 50 per cent indefinitely to support Nigerian families through this period and beyond. I pray strength and resilience for everyone,” the CEO said in the tweet.
Nigerian families are currently experiencing biting hardships as a result of the economic policies of the federal government. A removal of fuel subsidy back in May has seen the price of the essential commodity more than triple. The repercussion of this is the soaring price of transportation which has seen a commensurate rise in the prices of goods and commodities.
Insecurity in the north which produces much of the food consumed in the country means farmers are unable to return to their farms. According to a report, more than 2 million people have been displaced as a result of insecurity in the north, with nearly 90 per cent of them being farmers. This had placed a huge pressure on food production with food inflation rising to 34.4 per cent.
The country’s overall inflation rate currently stands at 29.9 per cent with the International Monetary Fund projecting that it will eventually peak at 44 per cent. Coupled with the Nigerian currency currently valued at $1 to N1750 and losing a chunk of its value with every passing day, the average Nigerian household is reeling under the severe pains that are a direct result of these realities. The minimum wage in the country remains N30,000.
uLesson Keeping its Promise of Making Education Readily Available
uLesson was founded in 2019 by Sim Shagaya who is also the Chief Executive Officer (CEO) of the startup. After a 12-month beta testing period, the e-learning app was launched officially on March 1 2020 with an announcement on social media.
4 short weeks after its official launch, the edtech startup celebrated 40,000 downloads from the Playstore. This paints a picture of steady growth and a positive index showing that the rate of adoption of the platform by students and people who want to learn in general is high.
In January 2021, the startup raised $7.5 million in Series A funding, bringing its total disclosed funding to $10.6 million across three rounds. The edtech company had raised an undisclosed amount from Founders Collective in April 2020. Before then, it had closed a $3.1 million seed round led by TLcom Capital in November 2019.
Speaking at the time, uLesson founder and CEO, Sim Shagaya explained that backed by the multi-million dollar funding, the edtech platform would be better positioned to cater to the diverse and unique online learning needs of students across Africa in the post-COVID-19 era.
Africa is not one place. Different needs, cultures and curricula mean that uLesson has to carefully and deliberately think about how to design products and distribution channels to serve such a vast market. Almost daily we receive emails from families across the continent asking us to make services available to them. And in 2021, we will.
With this 50 per cent slash in its subscription prices, it is good to see that the startup and its founder are still on the path of making its service readily available to users, despite the harsh conditions. and according to the CEO, this development would last indefinitely.
Speaking at the time, uLesson founder and CEO, Sim Shagaya explained that backed by the multi-million dollar funding, the edtech platform would be better positioned to cater to the diverse and unique online learning needs of students across Africa in the post-COVID-19 era.
Africa is not one place. Different needs, cultures and curricula mean that uLesson has to carefully and deliberately think about how to design products and distribution channels to serve such a vast market. Almost daily we receive emails from families across the continent asking us to make services available to them. And in 2021, we will.
With this 50 per cent slash in its subscription prices, it is good to see that the startup and its founder are still on the path of making its service readily available to users, despite the harsh conditions. and according to the CEO, this development would last indefinitely.
