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GoStudent, the online learning platform, says it’s now profitable
In a market that no longer favors growth at all costs, GoStudent's €3 billion valuation and global expansion may belong to the past. However, the Austrian tutoring platform reshaped quickly.
The contrast with previous losses makes the turn to profitability even more significant, and it’s easy to see why Ohswald called it a “massive milestone.” It will also be a likely morale booster for the staff, which after several rounds of layoffs, is now down to 1,500 full-time employees across the GoStudent Group. Spending less while still growing into its big dreams will be a fine balancing act for GoStudent, whose stated mission is to “build the #1 global school and unlock the potential of every student through personalized tutoring.” The company apologized and said it had already changed its hiring practices, which include background checks (Enhanced DBA, in the U.K.) and a code of conduct that forbids teachers from contacting students under 16 using Whatsapp “under any circumstances.”
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