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Online exam preparation firm Vriti shuts down: Report

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Noida-based test preparation service Vriti has shut shop, reports Techcircle citing sources. We tried accessing the site but it was down at the time of writing this article.

The report also notes that some of the company operated online educational communities like GoIIT.com, GoCBSE.com and PMTPrep.com are inactive. When we checked, GoIIT was offline while GoCBSE and PMTPrep were parked domains.

Founded in 2006 by Swapnil Shrivasatav and Rahul Agarwal, Vriti had raised a total $7.5 million from investors like JAFCO Asia and Intel Capital across two rounds. This includes $5 million (pdf) from JAFCO Asia and Intel Capital in August 2010 and $2.5 million from Intel Capital in 2008.

Shrivasatav however told the publication that the investors have been driving the company ever since he quit in August 2012. Other co-founder Agarwal had quit way back in April 2009. The company had appointed Anil Pande as the CEO of Vriti in September 2012, who has reportedly now moved onto Olive Telecommunications along with a team of 12 people. Olive Telecom’s site mentions Pande as the director of Software development.

Vriti aggregated educational and practice exam content from various authors and publishers, and distributed it to schools, colleges and coaching classes. As of August 2010, the company had claimed to 450 partner deployments.

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In November 2011, Vriti Infocomm has spun off two of its web properties – ConnectIndia.in and its hotel booking engine IndiaHotelReview.com in a bid to reposition itself as an e-learning firm. It had also discontinued two properties – CollegeSearch.in and MyEducation.in around the same time. ConnectIndia was later sold to Spade Financial Services for an undisclosed amount in August 2012.

In April 2012, it launched an education platform called VLearnSmart for Micromax Funbook which allowed authors, distributors and students to find, create and sell courses.

The company had claimed to offer more than 500 smart courses ranging from Class 1 to Degree courses for CBSE, ICSE, Maharashtra State Board and West Bengal State Board through this platform. Vriti had also tied up with Tata McGraw Hill to offer MBA and Engineering courses on Android tablets in August 2012.

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