Market Overview

Kajabi Passes $1 Billion Revenue As Learn From Home Industry Flourishes

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The current socio-economic crisis has decimated vast swathes of American society. The combination of extended time at home, extensive closure of industries from hospitality to leisure, and the need for social distancing have caused a seismic shift in the way citizens interact and learn.

There are around 1 million restaurants in the U.S., employing 16 million people. These businesses have been forced to close for the foreseeable future, mirroring shutdowns around the world. 

As the #StayAtHome hashtag has trended across social media, everyone one from Instagram influencers to craft sellers has been proposing ways for people to get creative and keep themselves occupied. Interest in home fitness has also surged, with YouTuber Joe Wicks seeing 800,000 people tune in to his livestreamed bootcamp on March 23. Ed-tech companies have also been responding to unprecedented demand, including Udemy and Teachable, which was just acquired by Hotmart for a reported $250 million.

With the quarantine expected to be in force for months, Americans are coming to terms with the need to retrain, focusing on skills that can be acquired and utilized remotely. On March 26, the number of new unemployment claims in the U.S. shot up to 3.28 million, a new record and 1,000% increase from last week’s reading of 281,000. 

At the same time, the closure of U.S. schools and universities has forced students to learn remotely, using tools such as Google Classroom and video conferencing software like Zoom. Parents faced with having to educate children who find themselves on extended vacation are turning to ed-tech tools to lighten the load.

As a result, some online businesses have flourished, as hundreds of millions of people adapt to remote working, self-teaching, and learning from home. Ed-tech is thriving, with e-learning companies and educational app developers reporting unprecedented demand.

One such platform, Kajabi, has reported over $1.1 billion in revenue generated from courses, memberships, and other learning products to more than 41 million students. At a time when vast swathes of the population are being forced to learn from home, Kajabi has elected to launch “Let’s Build Together,” a campaign celebrating the achievements of the entrepreneurs, experts, and influencers who run their businesses on its platform.

“So many people are thinking, ‘How can I use this time to continue learning new skills and growing?’ right now,” said Kenny Rueter, co-founder and CEO of Kajabi. “Our users are stepping up and creating so much value in the lives of their students. We wanted to highlight what they’re achieving and the brightness they’re bringing into the world right now. We hope this inspires more people to take action, build together, and use this time to bring their idea to life.”
 

 

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