Studysmarter lays off about 70 employees

According to a report by Deutsche Startups , the Munich-based e-learning company is primarily parting ways with freelancers from its content department.

Munich-based e-learning start-up Studysmarter is parting ways with deutsche-startups.de from around 70 employees. These are mostly freelancers who were based in the content department, it said. According to the company, these are employees who were only hired for the content project as part of a growth initiative. Studysmarter wanted to cover the curricula of the most important subjects. This has now been done.

The company was founded in 2018 and managed to raise $15 million last year. In recent months, the company wanted to tap into international markets. According to its own information, more than 400 people work for the start-up, with more than ten million users. The platform offers learning content for pupils and students, among others, but also opportunities for teachers to create new teaching materials.

The company grew rapidly, particularly during the Corona pandemic, as demand for digital learning materials soared. The platform is mostly free and financed by advertising, mainly recruitment marketing.