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.
