Bohubrihi was born out of a need identified by two BUET students, Md Yanur Islam Piash and his classmate Galib, in 2016. They noticed a significant gap in the Bangladeshi online earning market, particularly for advanced technical and engineering topics taught in the local language.
Key Insight: There was a lack of quality online courses in the local language and context, forcing Bangladeshi students to rely on foreign platforms.
Lesson: Identifying a genuine market need is crucial for startup success. Piash reflects on this, saying:
"The inadequacy of quality online courses, especially on advanced technical and engineering topics would bother us. We had to rely on foreign platforms - intended for foreign industry, created in foreign languages, to get a better learning experience."
Assembling a Team: Piash and Galib gathered a team of 6-7 first and second-year students from their department to start building Bohubrihi.
Initial Investment: The startup began with an investment of 15,000 taka, primarily funded by the founders' tuition earnings.
Development Process
Challenges:
Lesson: Bootstrapping requires creativity and persistence. Piash notes:
"2016-2017 was the toughest. We used to get frustrated sometimes, things would get stuck for financial constraints, progress slowed down, but we somehow managed to keep going anyway."
Revenue Model: Bohubrihi adopted a one-time fee for course access, moving away from an open marketplace approach to ensure quality.
Focus on Quality: The team prioritized creating high-quality, valuable courses over quantity, partnering with industry experts and organizations.
Growth Strategies
Key Metrics: By 2020, Bohubrihi had:
Lesson: Focus on value creation and quality over rapid growth. Piash emphasizes:
"We've grown so far mostly because we focus on the values; because our students can understand our values as well. Users don't care about website/app features."
Educating the Market: One of the biggest challenges was addressing misconceptions about e-learning in Bangladesh.
Lesson: Sometimes, you must educate your market before selling to it. Piash notes:
"People don't hate eLearning really, they hate bad eLearning. We are continuously trying to raise eLearning awareness among individuals and organizations."
Technology Development: Ensuring a robust and flexible technology platform was crucial for supporting different course models and user roles.
Lesson: Invest in solid technological infrastructure to support growth and innovation.
In 2023, Bohubrihi was acquired by Shikho, a Dhaka-based EdTech startup, in a cash and stock deal.
Key Factors Contributing to the Acquisition:
Outcome:
Lesson: Building a valuable product and aligning with market trends can lead to attractive exit opportunities. Shahir Chowdhury, Co-Founder and CEO of Shikho, recognized this value:
"Yanur has deep domain expertise and is a proven entrepreneur who shares our passion for democratizing access to a high-quality education."
Bohubrihi's journey from a student project to a successful acquisition demonstrates the power of identifying market gaps, focusing on quality, and persistently building value. The founders' ability to adapt their business model, overcome challenges, and stay true to their vision of improving e-learning in Bangladesh ultimately led to their success.
