The online education sector has gone through immense growth over the pandemic and Esme has adapted at an unprecedented speed. We are now seeing new market changes, and Beth Porter and I would like to share with you how we are orienting to the continued advancement of the online learning landscape.
Shifting market dynamics are influencing the consumer-facing EdTech sector reducing consumer demand across the board. In tandem with these consumer changes Esme is seeing a 10X increase in business to business (B2B) and business to government (B2G) interest and opportunities. We are finalizing a platform for more than 400 million potential learners that we are calling the Esme Network.
The demand for institutional solutions was further reinforced by the agenda and discussions at Davos with many organisations and governments expressing the need for workforce digital transformation to support critical technology advancements.
Growing in line with industry changes
Our B2B and B2G pipeline is now demanding significantly more time, attention and resources than ever before. As such, we are reorienting the organization to best serve this demand, which unfortunately means reducing the size of our team to enable a greater refocus on B2B, B2G and the Esme Network.
Gratitude and appreciation to our team
We want to thank all of our current and former employees for helping us succeed in such a fast-paced industry. Every person who has worked with us has played a core part in positioning Esme as a key player in this highly competitive market.
What comes next and when
Beth and I are incredibly proud and grateful to each individual, partner, customer and investor that has been and is part of the Esme journey to future-proof professionals and businesses through digital disruption.
Over the next few weeks we will be sharing more details about the business roadmap, which will include more specific details about the launch of Esme Studios to lead 4 of the top 10 universities in the world into the metaverse.