The Cakap leadership team
Indonesian edutech startup Cakap has recently reported strong performance, with its revenue doubling in the second quarter of 2023 compared to the same period last year (YoY). This positive trend has been consistent since 2020.
Cakap CFO Jonathan Dharmasoeka stated that the company has experienced robust growth across all segments, achieving positive EBITDA and is on track to meet its annual budget.
He explained, “By adapting to market demands, Cakap continues to expand its offerings to serve more Indonesian students, improving their language skills, vocational abilities, and business knowledge – the core pillars of Cakap. In the language domain, Cakap offers a variety of courses for adults and children, expanding its course options to cater to different age groups.”
The company, originally known as Squline, now operates with subscription-based and license-based revenue models in its three main business pillars: Language, upskilling, and business.
The language segment contributes the most revenue, with a growing interest in Japanese, Korean, and Mandarin courses. These programs range from three to twelve months.
Cakap has also addressed the issue of learning loss among elementary school children through its Cakap Kids Academy, offering a blend of offline language learning and skill-enhancing activities for children aged four to twelve.
A Cakap Kids Academy facility
Moreover, Cakap has introduced the Cakap English Standardized Test (CEST) as an alternative to traditional standardized tests like TOEFL, offering flexibility, affordability, and faster results through a combination of human and AI supervision.
Looking ahead, Cakap plans to expand its reach in second and third-tier cities, enhance personalized learning experiences, and establish a comprehensive educational ecosystem. The company remains committed to fostering a strong educational enterprise and contributing to gender equality initiatives.
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Image Credit: Cakap
This article was first published on September 11, 2023
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