Gaurav Munjal ka the end hai yeh. Iski boAt fatt gyi lol.

Software Developer

Rumours are floating that Unacademy is getting sold by one of its main investors to another Edtech company in their portfolio for just 400 Million dollars, their last round valuation was 3.5 Billio...

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Rumours are floating that Unacademy is getting sold by one of its main investors to another Edtech company in their portfolio for just 400 Million dollars, their last round valuation was 3.5 Billion dollars

But founder Gaurav Munjal said they have 200 Million in the bank. Getting confused - Is this a repeat of Byju 2.0?

They have fired the CTO and co-founder Hemesh Singh and Roman Saini ( other co-founder) is also not seen anywhere

I am worried if more people are to be laid off?

Unacademy in bad shape

Program Manager

Unacademy in bad shape- Grapevine

PREVIOUS POST GOT DELETED!


Rumours are floating that Unacademy is getting sold by one of its main investors to another Edtech company in their portfolio for just 400 Million dollars, their last round valuation was 3.5 Billion dollars 

But founder Gaurav Munjal said they have 200 Million in bank. Getting confused - Is this a repeat of Byju 2.0?

They have fired the CTO and co-founder Hemesh Singh and Roman Saini ( other co-founder) is also not seen anywhere 

I am worried if more people are to be laid off?

More information in comments sourced via a friend

Unacademy getting acquired?

Journalist

Fresh round of layoffs in Unacademy and 250 people have been let go. 

Kept waffling about he’s going to revolutionize the Edutech space and how they’re different from Byju’s. They’re all the same.

Another round of layoffs in Unacademy

Product Owner

Check out this for more context: https://themorningcontext.com/internet/unacademy-is-up-for-sale-merger-or-bailout

Unacademy is up for sale!

Software Engineer

After lay off, just posting a short statement will justify the reason?

Unacademy clearing the air?

Consultant

Any Goss on the financial health of Edtech firms like LEAD, Unacademy?
I hear there's one more round of layoffs coming.

Situation with Edtech firms.

Project Manager

A lot of people at Unacademy have already resigned, and they are unable to hire replacements from the market( for who knows what reasons). Now as we all know people who are left in the organisation are going to have a tough time. 

Leaves not being approved, longer hours at work, mental harassment in the name of being available 24*7  is becoming a day to day thing. Now they are forcing people to take up sections of business one has never dealt with and are threatening to fire them if they are denying those roles. 

People who left the organisation in 2022 are the luckiest and well a bunch of well informed individuals who saw the end of this company before anyone else could have. 

What a time to be in edtech, indeed

Major Shakeup at Unacademy

Founder

A merger with Aakash would have given Unacademy a shot at making a go of it in offline coaching. Without it, Munjal’s task of keeping his company afloat is that much harder.

Byju’s is in no rush to save Gaurav Munjal’s Unacademy - The Morning Context

Journalist writing clickbait articles

Business Development Manager

There has been internal new circulation going on that the IAS Co-founder at Unacademy is finally leaving the organisation.

He already sold his stakes in the company worth 700Cr last year and was sticking around because of the face value

However with a failure to raise capital and grow revenue, Investors have asked roman to exit.

Unacademy is truly going deep shit.

Unacademy co-founder exits 🤦💩

What's up with Unacademy?

Product Marketing Manager

After fooling countless customers, investors, loan partners, byjus employees are now all set to destroy what little is left to Unacademy.
Unacademy is now frantically hiring people from BYJUs across all levels and verticals. With BYJUs employees employment stood on the base of false promises and unethical sales, it is just a matter of time, Unacademy will become the new BYJUs.

With the company’s product first approach and the apprehension towards aggressive selling, it is disheartening to see the new fondness towards BYJUs.

Uncademy the new Victim to BYJU’s

Category Lead

Unacademy elevated Jagnoor as (COO) of its offline centres business in January this year. However due to tiff with GM, he has decided to part ways with Unacademy.

Unacademy is nearing its death with every leadership exit.

Just in : Unacademy's COO for offline biz steps down

Welcome to News Discussion's Private Community

Just read in the news that they had another round of layoffs today of 10% of the workforce, 

What’s going on there?!

The layoffs would happen across verticals, some of which would also be shut or scaled down, Munjal told employees in an internal email, a copy of which was seen by Moneycontrol.

Unacademy lays off 10% of workforce as funding winter for edtech worsens

What’s happening at Unacademy?

Product Designer

Unacademy's COO has stepped down from his position today and will serve a notice period for the next 3 months. 


Adding to this, Top Educators and directors have resigned too. These are from test prep categories.

This seems like a massive call fallout of the company.

Unacademy in deep shit 💩

Here's we go with the Grapevine News Bulletin - 5 handpicked scoops! 🗞️ Devour these tidbits in under 3 minutes and get your brain buzzing!

Let's go!

𝟏.⁠ 𝐢𝐱𝐢𝐠𝐨, 𝐚 '𝐜𝐨𝐜𝐤𝐫𝐨𝐚𝐜𝐡 𝐬𝐭𝐚𝐫𝐭𝐮𝐩', 𝐢𝐬 𝐠𝐨𝐢𝐧𝐠 𝐩𝐮𝐛𝐥𝐢𝐜 𝐚𝐟𝐭𝐞𝐫 𝟏𝟖 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬

Ixigo, an online travel aggregator, is going public next week, targeting Rs 740 crore ($89 million) primarily through a sale of shares by existing investors.

The IPO is expected to value Ixigo at Rs 3,600 crore ($430 million), 20% higher than its 2021 private valuation. Ixigo's financials show strong growth, with a 32% increase in operating revenue to Rs 501 crore in FY23 and a net profit of Rs 23 crore. Ixigo's valuation appears to be a potential bargain compared to peers like EaseMyTrip and MakeMyTrip.

Existing investors like Elevation Capital and Peak XV Partners are set to make significant returns, with Elevation expected to make a 13X return.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘾𝙤𝙪𝙡𝙙 𝙞𝙭𝙞𝙜𝙤'𝙨 𝙢𝙤𝙙𝙚𝙨𝙩 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣 𝙘𝙤𝙢𝙥𝙖𝙧𝙚𝙙 𝙩𝙤 𝙥𝙚𝙚𝙧𝙨 𝙡𝙞𝙠𝙚 𝙈𝙖𝙠𝙚𝙈𝙮𝙏𝙧𝙞𝙥 𝙞𝙣𝙙𝙞𝙘𝙖𝙩𝙚 𝙖 𝙢𝙖𝙧𝙠𝙚𝙩 𝙘𝙤𝙧𝙧𝙚𝙘𝙩𝙞𝙤𝙣 𝙞𝙣 𝙩𝙧𝙖𝙫𝙚𝙡 𝙩𝙚𝙘𝙝 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣𝙨, 𝙤𝙧 𝙖𝙣 𝙤𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙮 𝙛𝙤𝙧 𝙥𝙤𝙨𝙩-𝙄𝙋𝙊 𝙫𝙖𝙡𝙪𝙚 𝙘𝙧𝙚𝙖𝙩𝙞𝙤𝙣 𝙩𝙝𝙧𝙤𝙪𝙜𝙝 𝙤𝙥𝙚𝙧𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙚𝙭𝙘𝙚𝙡𝙡𝙚𝙣𝙘𝙚?

Source: Inc42 - https://bit.ly/3KBzNEM

𝟐. ⁠𝐔𝐧𝐚𝐜𝐚𝐝𝐞𝐦𝐲 𝐜𝐨-𝐟𝐨𝐮𝐧𝐝𝐞𝐫 𝐇𝐞𝐦𝐞𝐬𝐡 𝐒𝐢𝐧𝐠𝐡 𝐬𝐭𝐞𝐩𝐬 𝐝𝐨𝐰𝐧 𝐚𝐬 𝐂𝐓𝐎

The co-founder of the edtech platform Unacademy, Hemesh Singh, is stepping down from his role as Chief Technology Officer (CTO). He will continue in an advisory role at the company, but his future plans are unclear.

Unacademy's focus has shifted more towards the offline market, which is now a central part of their business. The online test-prep operation is expected to decrease in 2023.

There have been other top-level exits at Unacademy recently. The company has raised significant funding over the past few years, with its valuation reaching over $3 billion.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙃𝙚𝙢𝙚𝙨𝙝'𝙨 𝙚𝙭𝙞𝙩 𝙨𝙞𝙜𝙣𝙖𝙡𝙨 𝙖 𝙨𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝙨𝙝𝙞𝙛𝙩 𝙖𝙩 𝙐𝙣𝙖𝙘𝙖𝙙𝙚𝙢𝙮, 𝙛𝙤𝙘𝙪𝙨𝙞𝙣𝙜 𝙢𝙤𝙧𝙚 𝙤𝙣 𝙤𝙛𝙛𝙡𝙞𝙣𝙚 𝙜𝙧𝙤𝙬𝙩𝙝 𝙧𝙖𝙩𝙝𝙚𝙧 𝙩𝙝𝙖𝙣 𝙞𝙩𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙧𝙤𝙤𝙩𝙨. 𝙃𝙤𝙬 𝙬𝙞𝙡𝙡 𝙩𝙝𝙞𝙨 𝙤𝙛𝙛𝙡𝙞𝙣𝙚 𝙥𝙞𝙫𝙤𝙩 𝙞𝙢𝙥𝙖𝙘𝙩 𝙤𝙩𝙝𝙚𝙧 𝙚𝙙𝙩𝙚𝙘𝙝 𝙥𝙡𝙖𝙮𝙚𝙧𝙨, 𝙖𝙣𝙙 𝙙𝙤𝙚𝙨 𝙞𝙩 𝙞𝙣𝙙𝙞𝙘𝙖𝙩𝙚 𝙖 𝙗𝙧𝙤𝙖𝙙𝙚𝙧 𝙩𝙧𝙚𝙣𝙙 𝙤𝙛 𝙙𝙞𝙜𝙞𝙩𝙖𝙡-𝙛𝙞𝙧𝙨𝙩 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙚𝙢𝙗𝙧𝙖𝙘𝙞𝙣𝙜 𝙝𝙮𝙗𝙧𝙞𝙙 𝙢𝙤𝙙𝙚𝙡𝙨 𝙛𝙤𝙧 𝙨𝙪𝙨𝙩𝙖𝙞𝙣𝙖𝙗𝙡𝙚 𝙜𝙧𝙤𝙬𝙩𝙝?

Source: The Arc - https://bit.ly/3VBjrCt

𝟑.⁠ ⁠𝐋𝐞𝐧𝐝𝐢𝐧𝐠 𝐚𝐩𝐩 𝐅𝐢𝐛𝐞 𝐫𝐚𝐢𝐬𝐞𝐬 $𝟗𝟎 𝐦𝐧 𝐚𝐬 𝐥𝐨𝐚𝐧 𝐛𝐨𝐨𝐤 𝐝𝐨𝐮𝐛𝐥𝐞𝐬

The lending app Fibe has raised $90 million in a new funding round, nearly doubling its valuation to close to $600 million. The round was led by TR Capital, Amara Partners, and Trifecta Capital, with existing investors TPG and Norwest also participating. 

Fibe provides unsecured personal loans of up to Rs 5 lakh, competing with players like KreditBee and Moneyview. It is profitable, with a net profit of Rs 88 crore for the 9 months ending December 2023. Its loan book has more than tripled in the last 2 years, reaching Rs 3,431 crore as of December 2023.

The company had to write off loans worth Rs 94 crore in the 9 months ending December 2023, over twice the Rs 44.5 crore in FY23. Its NBFC had a gross NPA of 2.86% in December 2023, down from 3.5% in March 2023.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙁𝙞𝙗𝙚'𝙨 𝙜𝙧𝙤𝙬𝙩𝙝 𝙖𝙣𝙙 𝙥𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙨𝙝𝙤𝙬𝙘𝙖𝙨𝙚 𝙩𝙝𝙚 𝙢𝙖𝙨𝙨𝙞𝙫𝙚 𝙥𝙤𝙩𝙚𝙣𝙩𝙞𝙖𝙡 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙡𝙚𝙣𝙙𝙞𝙣𝙜 𝙨𝙥𝙖𝙘𝙚, 𝙙𝙚𝙨𝙥𝙞𝙩𝙚 𝙧𝙞𝙨𝙞𝙣𝙜 𝙉𝙋𝘼𝙨. 𝘼𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙡𝙚𝙣𝙙𝙚𝙧𝙨 𝙡𝙞𝙠𝙚 𝙁𝙞𝙗𝙚 𝙨𝙘𝙖𝙡𝙚 𝙧𝙖𝙥𝙞𝙙𝙡𝙮, 𝙝𝙤𝙬 𝙬𝙞𝙡𝙡 𝙩𝙧𝙖𝙙𝙞𝙩𝙞𝙤𝙣𝙖𝙡 𝙗𝙖𝙣𝙠𝙨 𝙖𝙣𝙙 𝙉𝘽𝙁𝘾𝙨 𝙧𝙚𝙨𝙥𝙤𝙣𝙙 𝙩𝙤 𝙢𝙖𝙞𝙣𝙩𝙖𝙞𝙣 𝙩𝙝𝙚𝙞𝙧 𝙢𝙖𝙧𝙠𝙚𝙩 𝙨𝙝𝙖𝙧𝙚 𝙞𝙣 𝙥𝙚𝙧𝙨𝙤𝙣𝙖𝙡 𝙡𝙤𝙖𝙣𝙨?

Source: Entrackr - https://bit.ly/3X9ezpg 

𝟒.⁠ ⁠𝐇𝐞𝐫𝐨 𝐌𝐨𝐭𝐨𝐂𝐨𝐫𝐩-𝐛𝐚𝐜𝐤𝐞𝐝 𝐀𝐭𝐡𝐞𝐫 𝐫𝐞𝐩𝐨𝐫𝐭𝐬 𝐟𝐥𝐚𝐭 𝐫𝐞𝐯𝐞𝐧𝐮𝐞𝐬 𝐢𝐧 𝐅𝐘𝟐𝟒

Ather Energy's revenues were flat at ₹1,753 crore in FY24, down 2% from the previous year

This is due to increasing competition in the Indian electric two-wheeler market, with players like Ola Electric, Bajaj, and TVS vying for market share

Ather had seen a massive 4x revenue growth in the previous year, from ₹408 crore to ₹1,784 crore

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘼𝙩𝙝𝙚𝙧'𝙨 𝙛𝙡𝙖𝙩 𝙜𝙧𝙤𝙬𝙩𝙝 𝙞𝙨 𝙖 𝙬𝙖𝙠𝙚-𝙪𝙥 𝙘𝙖𝙡𝙡, 𝙝𝙞𝙜𝙝𝙡𝙞𝙜𝙝𝙩𝙞𝙣𝙜 𝙩𝙝𝙚 𝙛𝙞𝙚𝙧𝙘𝙚 𝙘𝙤𝙢𝙥𝙚𝙩𝙞𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙥𝙤𝙩𝙚𝙣𝙩𝙞𝙖𝙡 𝙨𝙖𝙩𝙪𝙧𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙚𝙡𝙚𝙘𝙩𝙧𝙞𝙘 𝙩𝙬𝙤-𝙬𝙝𝙚𝙚𝙡𝙚𝙧 𝙢𝙖𝙧𝙠𝙚𝙩. 𝙒𝙞𝙩𝙝 𝙢𝙪𝙡𝙩𝙞𝙥𝙡𝙚 𝙥𝙡𝙖𝙮𝙚𝙧𝙨 𝙫𝙮𝙞𝙣𝙜 𝙛𝙤𝙧 𝙙𝙤𝙢𝙞𝙣𝙖𝙣𝙘𝙚, 𝙬𝙞𝙡𝙡 𝙬𝙚 𝙨𝙚𝙚 𝙘𝙤𝙣𝙨𝙤𝙡𝙞𝙙𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙩𝙝𝙚 𝙀𝙑 𝙩𝙬𝙤-𝙬𝙝𝙚𝙚𝙡𝙚𝙧 𝙨𝙥𝙖𝙘𝙚, 𝙤𝙧 𝙬𝙞𝙡𝙡 𝙙𝙞𝙛𝙛𝙚𝙧𝙚𝙣𝙩𝙞𝙖𝙩𝙞𝙤𝙣 𝙩𝙝𝙧𝙤𝙪𝙜𝙝 𝙩𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮 𝙖𝙣𝙙 𝙗𝙧𝙖𝙣𝙙 𝙡𝙤𝙮𝙖𝙡𝙩𝙮 𝙗𝙚𝙘𝙤𝙢𝙚 𝙠𝙚𝙮 𝙜𝙧𝙤𝙬𝙩𝙝 𝙙𝙧𝙞𝙫𝙚𝙧𝙨?

Source: MoneyControl - https://bit.ly/3x98gY4

𝟓. ⁠𝐁𝐚𝐣𝐚𝐣 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐢𝐥𝐞𝐬 𝐩𝐚𝐩𝐞𝐫𝐬 𝐟𝐨𝐫 𝐑𝐬 𝟕,𝟎𝟎𝟎 𝐂𝐫 𝐈𝐏𝐎

The IPO will comprise a fresh issue of equity shares worth up to Rs 4,000 crore and an offer for sale of equity shares worth Rs 3,000 crore by parent Bajaj Finance.

The proceeds will be used to augment Bajaj Housing Finance's capital base to meet future capital requirements.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘽𝙖𝙟𝙖𝙟 𝙃𝙤𝙪𝙨𝙞𝙣𝙜 𝙁𝙞𝙣𝙖𝙣𝙘𝙚'𝙨 𝙄𝙋𝙊 𝙧𝙚𝙛𝙡𝙚𝙘𝙩𝙨 𝙜𝙧𝙤𝙬𝙞𝙣𝙜 𝙞𝙣𝙫𝙚𝙨𝙩𝙤𝙧 𝙘𝙤𝙣𝙛𝙞𝙙𝙚𝙣𝙘𝙚 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙛𝙞𝙣𝙖𝙣𝙘𝙚 𝙨𝙚𝙘𝙩𝙤𝙧, 𝙙𝙧𝙞𝙫𝙚𝙣 𝙗𝙮 𝙪𝙧𝙗𝙖𝙣𝙞𝙯𝙖𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙖 𝙧𝙞𝙨𝙞𝙣𝙜 𝙢𝙞𝙙𝙙𝙡𝙚 𝙘𝙡𝙖𝙨𝙨. 𝙒𝙞𝙩𝙝 𝙢𝙤𝙧𝙚 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙛𝙞𝙣𝙖𝙣𝙘𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙜𝙤𝙞𝙣𝙜 𝙥𝙪𝙗𝙡𝙞𝙘, 𝙬𝙞𝙡𝙡 𝙩𝙝𝙞𝙨 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙚𝙙 𝙘𝙖𝙥𝙞𝙩𝙖𝙡 𝙡𝙚𝙖𝙙 𝙩𝙤 𝙢𝙤𝙧𝙚 𝙖𝙛𝙛𝙤𝙧𝙙𝙖𝙗𝙡𝙚 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙤𝙥𝙩𝙞𝙤𝙣𝙨, 𝙤𝙧 𝙬𝙞𝙡𝙡 𝙞𝙩 𝙥𝙧𝙞𝙢𝙖𝙧𝙞𝙡𝙮 𝙗𝙚𝙣𝙚𝙛𝙞𝙩 𝙝𝙞𝙜𝙝-𝙚𝙣𝙙 𝙧𝙚𝙖𝙡 𝙚𝙨𝙩𝙖𝙩𝙚?

Source: YourStory - https://bit.ly/3KBAj5G

Got a zesty take on our tangy 🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩? Discuss in comments below! ⬇️

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