At most Latin American schools, teachers and students mostly read printed books. Those books are published by two major players. Printed books are expensive, and there usually are not enough to go around due to the constraints on school and family budgets. There aren’t any edtech products yet serving the market. For those who read on e-readers, there are the usual suspects: Kindle, iBooks, among others. We are introducing a book-as-a-service concept. Thanks to our enhanced experience (comprehension assessment + gamification), reading is more engaging and readers can get the most out of it, especially in learning environments.
Ludibuk is creating the best personalized learning experience for Spanish speakers through its subscription-based online reading platform. Behind Ludibuk stands a team of highly committed and experienced EdTech specialists that believe that reading skills have a material effect on a person’s understanding of other fields such as maths, science, liberal arts, technology and foreign languages, on their personal and professional success and therefore on the quality of life.
A K-12 vertical has been already deployed, serving Spanish speaking students in Chile, Peru, Mexico and USA. Our typical mode of selling to schools consists of providing a two or three months pilot that then rolls into a paying contract. Schools tend to pay in one, three or ten monthly installments. Our contract renewal rate is running about 80%. We see partnerships as the way to increase our growth rate as it will allow us to acquire larger groups of clients instead of having to sell district by district. We have over 23,000 users from Chile, Peru, Mexico and USA, 16,000 of them are paying (100% b2b so far, schools) and have generated $650,000 in revenue in our first 24 months of operation and the first 2,000 users in trial mode b2c. Ludibuk has its first official customer in the US, in Chicago with Distinctive Schools, a dual lingual charter school network serving Latino students.
In the near future, thanks to AI, Ludibuk will convert into a platform as a service model where readers will be able to insert their desired/required texts regardless of the subject or the purpose of their reading,: from pre K-12 to lifelong learning and from educational to recreational purposes, Ludibuk will offer an enhanced reading experience optimized to develop better comprehension and understanding. Our vision is to build a platform beyond content. Thanks to the massification of internet access, content became a commodity. Not so the learning. It remains a key challenge in human development. That's why Ludibuk has defined a roadmap which will allow us to build a new business model centered in readers and personalized learning regardless what they need/want to read. Whether it's a graduate student reading a scientific paper or a housewife going over the recipe for a plate of food or a sales rep learning about a new product in their portfolio, Ludibuk will nurture their reading process helping them to improve their comprehension.While Latin American / Spain publishers keep selling paper and first generation MOOCs and LMS, Ludibuk is preparing itself to step up.
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