EdTech Cakap's Revenue Grew 170% in Q2-2022 (YoY), Certified Vocational Classes Boost the Business
Jakarta, Indonesia--(Newsfile Corp. - September 6, 2022) - The leading upskilling platform in Indonesia, Cakap, has posted 170% student revenue growth compared to Q2 in 2021 (YoY) and booked profit for two consecutive years. Cakap also empowered more than 1,600 teachers to teach passionate students through various learning methods on the platform.
Key of Cakap's Q2 Business Performance
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Three years since the pandemic hit the world, every level of society is required to minimize crowd activity or shift to online activities, likewise, in teaching and learning activities, which have been done online for quite a long time. This has become a niche for technology-based companies in providing services and products for society. EdTech Cakap provides solutions that support government policies to prioritize health protocols during the learning session and participate in building the Indonesian economy in education, especially vocational courses and foreign language training.
Tomy Yunus, CEO & Co-Founder of Cakap, stated that EdTech Cakap's revenue in the second quarter showed a positive trend and was a cumulative success from the support of many parties. "Behind this achievement, I believe there is hard work from the Cakap internal team that has a rapid response to adapt in the post-pandemic situation, and one of them is through the launching of the blended learning solution. We believe Cakap's rapid growth is the driver to grow the number of people who are inspired to unleash their potential," said Tomy. Apart from positive revenue growth, there were positive developments in the number of Cakap students. "A significant rise was also recorded from the number of students, which reached 2.7 million cumulative and grew 220% from the same period last year, as specifically more than 500,000 students joined the platform in Q2," concluded Tomy.
Tomy Yunus, CEO & Co-Founder of Cakap
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Furthermore, Jonathan Dharmasoeka, Chief of Business Cakap, explained that throughout the second quarter, the company recorded solid growth that surpassed the achievement of 2021. "The business unit that became the main source of income came from the upskills segment (certified vocational education). Cakap also implements product development that is more relevant to reach areas outside Jakarta. There was an increasing number of students, up to 12% from outside Java island, such as Lampung, Medan, and Aceh. In Q2, we started to expand the services by providing a blended learning solution as one of the expansion highlights. In addition, the company has also continued to successfully acquire large institutional clients from the financial industry and listed companies," Jonathan said.
One of Cakap's copywriters delivers a course on how to be a good copywriter in an offline class on July 30, 2022.
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In the future, EdTech Cakap is optimistic about continuing to grow and develop by improving digital learning solutions and continuing innovation to support the advancement of digital talents in Indonesia. The focus of career enhancement has been proven by providing various courses which are highly demanded by the labor market, with various certified programs. Classes with high interest include hospitality sectors - such as housekeeping and hotel front office; business and entrepreneurship. Cakap also provides product & financial management courses for coffee shop entrepreneurs to digital marketing courses.
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About Cakap
Cakap is a leading upskilling company in Indonesia that develops learning applications that connect students with professional teachers and industry experts through video calls and text conversations. The Cakap education platform provides two-way learning interactions for learning the latest skills in various Asia Pacific countries. Available on Google Play and App Store to reach various user segments because Cakap believes everyone deserves a quality education. Cakap provides educational solutions with international standard learning curriculum to provide the best online learning experience #SiapaCakapDiaDapat
Contact Person:
Moh. Ferry Prihardiputra
Public Relations Manager
Ph: (+62) 8175268638
Email: ferry.prihardiputra@cakap.com
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