As an online higher education platform, UpGrad has a specific target audience: individuals looking for career advancement or skill enhancement. Let's say UpGrad primarily targets professionals in India. If we assume there are 100 million professionals in India and 50% have access to a smartphone and are tech-savvy, this gives us a base of 50 million potential UpGrad users.
Not all potential users will actually use UpGrad. Based on market averages, let's say that 15% of potential users become active users, which gives us 7.5 million active users.
UpGrad offers a variety of courses, but not all users will enroll in a new course each month. For instance, a course may take several months to complete. Let's say 5% of active users enroll in a new course each month. Therefore, we estimate the average number of new course enrollments on UpGrad every month to be around 375,000.
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