Classplus was the weapon used by thousands of coaching centres in their bitter fight against Goliaths Byju's and Unacademy. Now the B2B edtech startup is powering content creators across all platforms
Classplus co-founders Bhaswat Agarwal (left) and Mukul Rustagi
Image: Amit Verma
Gurugram, August 2015. It took them just 6 hours to resign. Mukul Rustagi and Bhaswat Agarwal had been friends since their coaching days in 2007. The young boys toiled for months, slogged hard for hours, and developed a strong sense of camaraderie during the bumpy ride of preparing for the toughest engineering entrance examination in the country. The result was sweet. Both graduated as engineers in 2013, and over two years later, the friends were doing exceedingly well in their respective jobs. Agarwal joined as tech strategist at Microsoft, and Rustagi was derivatives analyst at Futures First. The present was perfect, and the future indeed looked bright for the duo.
Then one fateful day, came a sudden twist in the tale. Nah, it was an overwhelming itch. Agarwal decides to become a founder, he makes a call to Rustagi and asks him to become a partner in crime. “I was going to start something with someone I could trust my life with,” recalls Agarwal. “I knew even if we failed, we would have fun in the process.” Rustagi, for his part, has been an introvert. He knew that if there is one person he would be most comfortable with when it comes to starting a venture, it was Agarwal.
So, there were no second thoughts. Maths did make sense, the chemistry between the friends looked perfect, and the duo now took a leaf from physics and resigned at lightning speed. “We didn’t procrastinate a bit,” underlines Rustagi, who teamed up with Agarwal, decided to take a stab at the world of education, and took a plunge into entrepreneurship in early 2016. “Not thinking too much was the good part,” he says. The friends managed to get a modest funding of Rs 50 lakh. “This was one more good part,” he adds.
Well, there was a bad part as well. Eight years after quitting their maiden jobs, Rustagi tells us why the impulsive move didn’t make sense. “We never planned. And that was a bad thing to do,” he rues. There was no business idea and the venture didn’t have a name. “There was nothing,” he says. For the next two years, 2016 and 2017, the duo tried multiple things. From online tutoring to refining the content of coaching centres to everything and anything related to education, the friends kept hopping and trying new ventures every two months. Nothing worked, though. There were three simple reasons. Rustagi explains. First, there was no focus. Second, there was no conviction. Lastly, there was no market knowledge.