GoStudent is Austria’s second and most valuable Unicorn
The Austrian tutoring platform GoStudent has reached a valuation of 1.3 billion euros, making it the country’s second and most valuable unicorn. The ambitious startup’s mission is to build the largest education platform in the world.
At a time when other companies are struggling to survive, the Austrian startup GoStudent has flourished. The covid-19-pandemic has helped the online tutoring platform to a break through.
From a Whatsapp chat to a million-dollar startup
GoStudent was founded by the two entrepreneurs Felix Ohswald (CEO) and Gregor Müller (COO). What is now a billion-dollar startup began as a Whatsapp group in 2016. The chat allowed students to directly ask questions about their homework and receive competent answers from older students. Later, Ohswald and Müller launched an app developed specifically for such exchanges. However, the two founders soon realized that it was difficult to commercialize said idea. A real business model was needed, which is why Oshwald and Müller began offering one-on-one tutoring via video chat in 2018.
Austria’s second and most valuable unicorn
In its last financing round GoStudent recently received a total of 205 million from well-known investors such as Japan’s Softbank and the Chinese Internet giant Tencent. The young company thus newly reaches a valuation of 1.3 billion euros. After the crypto exchange Bitpanda, the tutoring startup is now Austria’s second and at the same time most valuable unicorn. But the entrepreneurial spirit does not end there. By 2021, Oshwald and Müller want to be the market leaders in all major European countries. The company’s ambitious mission is to build the largest education platform in the world.
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