Situation with Edtech firms.
Any Goss on the financial health of Edtech firms like LEAD, Unacademy? I hear there's one more round of layoffs coming.
It’s going to get worse. Literally all of them are trying to open offline centers. I recently heard that unacademy was in talks to acquire some gurgaon based company with 30 offline centers.
Byjus did something similar with Akash. Vedantu also bought a company with offline centers.
Kids don’t want to learn online anymore. Even though they survive the winter, their core model doesn’t have any growth left, they’ve to find a silver bullet. And right now silver bullet looks like offline centers.
I think it’s BYJUs that has a high chance of going dry. Unacademy took the signs of the recession early and started converting cash.
I suspect massive layoffs at BYJUs continue in 2023 and only minor ones in Unacademy
ProteinPancakes
Stealth
2 years ago
I feel like the early signs of the problem was when online edtech went started switching to the offline model.