Osmo - The Company
Osmo was founded in 2013 by Pramod Sharma and Jerome Scholler who created the company, Tangible Play Inc. Their goals was to create “something awesome that inspires the youngest generation,” with an added focus that most tech companies have neglected, hands-on play (Osmo, 2022). As parents themselves, they recognized the concern parents had with the overuse of sedentary screen-time. Sharma & Scholler developed a way to allow for the integration of technology and hands-on play. In 2019, Osmo was purchased by the Indian, multinational educational tech giant, Byju's and is now part of the company's product line with the goal of providing a variety of educational services to reach learners of all ages.
Source: Google Images
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Tangible Play Inc.
Tangible Play Inc., is a company founded by Pramod Sharma and Jérôme Scholler. Scholler and Sharma are bother Stanford graduates who were previously employed by Google. Their inspiration to develop Tangible Play Inc. was through their observations of . Tangible Play Inc.'s intellectual property of Osmo includes 60 registered patents in the 'Computing' and 'Calculating' category and 29 registered trademarks including 'scientific and electric apparatus instruments', 'tangible object virtualization station' and 'object activity detection' (Justia Patents, 2022). In 2019, Osmo was purchased by the Indian, multinational EdTech giant, Byju's for $120 million (Business Insider, 2019).
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Byjuy's
Founded by Byju Raveendran in 2011, Byju's is the world's largest EdTech company based out of India. After many recent acquisitions, it leads the industry with a $22 billion dollar valuation as of March, 2022 (Byju's, 2022). The EdTech sector in India has witnessed a post-pandemic boom and is expected to evolve into a $30 billion industry over the next 10 years. The company provides highly engaging, effective and adaptive learning solutions to over 150 million students around the world with the goal of making young people Fall in love with learning. Along with Osmo, their focus on innovative learning products and STEAM brands includes Epic (eLibrary reading platform), Tynker (popular coding platform), Tynker, BYJU’S Learning featuring Disney and BYJU’S FutureSchool. Through their global partnerships, Byju's is leading the way in bridging the gap between EdTech solutions around the world.
Source: Google Images
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Market Analysis
According to the EdTech industry, the global market for interactive learning solutions will reach $37.3 billion by 2027 (PRNewswire, 2022). In the Educational apps market, growth is projected to advance at a compound annual growth rate of 26%. With this accelerated growth in the EdTech ecosystem, launching a successful tool in the competitive market space will require innovation and reputable investors. The game-based learning (GBL) market is projected to be one of the leading trends in the EdTech ecosystem (Valuates Reports, 2022), by both the North American and International markets.
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The Future
​In March 2022, Byju's joined with Qatar Investment Authority to establish a new EdTech company and a Research & Development centre in Doha. According to PR Newswire (2022), the Asia-Pacific region is expected to be the most profitable region in the Educational Apps market. Osmo has the opportunity to target the international market with the development of its products in other languages as Byju's customers span across 100 countries. Along with its international growth potential, Osmo recently launched its newest app, Reading Adventure, a personalized learn-to-read program for kids to build their skills and confidence beyond the classroom. In 2019, they also introduced the Osmo Little Genius Starter Kit aimed at their newest audience, preschoolers.The expansion of the Osmo product line to include a new audience while developing more game pieces, kits and apps is key to increasing future sales growth.
SWOT Analysis
I chose to conduct a SWOT analysis of the Osmo product to evaluate the areas of the company that have been successful while recognizing the needs and opportuninties for improvment.
STRENGTHS
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Compatible with various devices (iOS & Fire Tablets)
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Accessible to learners with varying needs & abilities
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Fine motor development
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Interactive, hands-on, multi-sensory play
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Compatible with existing technologies in schools or at home.
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Proprietary “Reflective Artificial Intelligence”
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Enhances student engagement, cooperation and motivation
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Reduces isolated and sedentary screen time
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Immediate feedback for learners
WEAKNESSES
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Cost barriers create unequal access to learning
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Not available to use on other tablets (Samsung Galaxy or Google Pixel)
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Limited marketing and product availability in international market
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OPPORTUNITIES
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Increase revenue through new product launches and expanded product line (kits and game pieces)
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Target K-7 classrooms with class sets and teacher professional development.
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Expansion to the global market as the apps are currently only available in English (with some game exceptions in Spanish & French)
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Expanded device compatibility
THREATS
Due to some of Osmo's proprietary features, competitors in the market lack the tangible play component of the Osmo product, making market threats minimal. Current competitors include:
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imagi: limited to coding
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KidX Classbox: allows for multisensory play, lacks AR features.
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Bitsbox: limited to coding
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Amazon Glow: launched in 2021 without the hands-on play aspect. Annouced this month that the product has been discontinued.
Byju's Global Investors
With the intention of leading the industry in the EdTech space, Byju's has partnered with numerous global investors who share in the mission of redefining the education space and unleashing unlimited possibilities in the Educational Technology space. As of 2019, Byju's secured approximately $785 million in funding from more than 50 global investors.
Philanthropy
Byju's launched the "Education for All" Inititaive in 2020 with the intention of supporting education for children in marginlized populations. Their "Give" program works to collect old and unused smart devices which are then loaded with free Byju's content and distributed to children with no internet access.