I don't understand, the sector that makes sureshot money on small and medium scale is continuously failing on pan India scale.  A small IIT coaching in Patna with 2 centres generates profit in cror...

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I don't understand, the sector that makes sureshot money on small and medium scale is continuously failing on pan India scale.

A small IIT coaching in Patna with 2 centres generates profit in crores but these Byjus and Unacademy are not really able to do anything significant in long run.

Unacademy is up for sale

Founding Engineer

Unacademy is up for sale- Grapevine

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

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

How to easily make employees exit the company

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

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

Unacademy has just laid off the entire team of NextLevel and will be shutting the business. 

It is interesting to note that Relevel underwent a major pivot after failure and was rebranded to NextLevel. Gaurav apparently blindly wrote how this product will take on LinkedIn and make CV's redundant. 

Guess another unacademy experiment has failed but several employees are facing the brunt of the CEO's immature experimental nature.

Unacademy layoffs have begun 🤡

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

1 year back all startups were losing money like crazy while all of a sudden everyone from Swiggy to Meesho to Unacademy are profitable or EBITDA positive.
Other companies which were profitable earlier have not shown a spike in profit.

Were these companies uselessly burning money earlier if they can just suddenly become profitable in 6-8 months

Profitable startups

Product Manager

Welcome to Office Gossip's Private Community

The new policies introduced by CFO Subramaniam in last 6 months have dented company's revenue massively.

His decisions will show results in long term, but in short term they are incurring losses. In the last investor meeting held with peak xv and softbank, this is the question investors were putting-
1. Why the personal distribution policy of educators was implemented without concrete plan in place?
2. Why growth declined in some of the most profit making businesses?
3. Why were educators being paid heavily without including S&M cost and Tech cost to their revenue?
4. Why suddenly there was a mass dropout of existing educators who were helping in driving revenue?

Good or for Bad, investors feel that decisions lacked ownership and growth intent.

Peak xv and softbank decided to replace CFO with their internal finance consultant, likely Jai Decosta.

What is your take on the decision?

Why was unacademy CFO fired?

Consultant

My first startup had a smoking zone where there was gramophone looking art piece where people used to dump their ashes. Later someone told me that it’s a Bluetooth speaker and no one cared to put it back after the party that happened two weeks back. 

That was true culture shock.

What are some of the mindless things that high funded startups do?

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

This is followed by GM's recent post. The real test for unacademy after fall of byju's is about to begin. unacademy must immediately do the following-

1. Bet on Offline
PAT of offline test prep giants in India-
- Allen: 421 cr
- Aakash: 328 cr
- Narayana: 528 cr
- Sri Chaitanya: 621 cr
- FIITJEE: 58 cr
If unacademy takes a big bet on offline, definitely they have a higher chance of reaching EBITDA positive by next FY

2. Stop paying Crores to online educators
- Seriously paying 2cr to 8 cr salary doesn't make any sense.
- The educators will work in 50-80 lakh salary easily. if not, let them walk away, unacademy has a bigger brand value than name of these educators.

3. Start an online centre for godsake
- PW, learn and fun, Vedantu, Rahul IAS, drishti not only have offline but online centres as well. 
- So apart from wfh teacher model, build a online learning centre model and pay industry standard payout.

4. Become the APPLE not Blackberry
You are a brand unacademy. Keep your standards above.

5. 🔥 GM. 
After Roman and Hemesh, GM should take an immediate exit. At this stage anyone is better but not GM. He abuses our directors and VPs and they thrash our ass.

Can unacademy save itself?

Welcome to News Discussion's Private Community

https://entrackr.com/2024/06/exclusive-unacademy-in-talks-to-merge-with-orchid-schools-owner-k12-techno/

Big: Unacademy merging with Orchid Schools in a 50-50 merger

Software Developer

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 is up for sale

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