Summary: 

- Unacademy is looking for a merger/acquisition, they've been forced to because they could not revive biz
- Investors had told them they will take more active control if performance does not improve
- Offline is slow and takes time. Online isn't working. New initiatives did not pay off.
- So ultimately they are looking for a stock based deal 
- Prospects: K12 Techno, Allen, PhysicsWallah etc.
- Marks the demise of Edtech the way we have known it

Corporate Strategist

Founder

Check out this for more context: https://themorningcontext.com/internet/unacademyisupforsalemergerorbailout

Welcome to Indian Startups's Private Community

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

Unacademy is up for sale!- Grapevine

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

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

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

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

Unacademy clearing the air?

Consultant

Welcome to Office Gossip's Private Community

https://www.moneycontrol.com/news/business/startup/softbank-backed-unacademy-explores-merger-with-byjus-owned-aakash-10301111.html/amp

This is a short cut for Unacademy to go for an IPO

Unacademy to merge with Byjus Akash

Growth Manager

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

Looks like some news in edtech. Whats your take?

Edtech unicorn Unacademy is in discussion to merge with K12 Techno, which runs the chain of Orchids International Schools.

Exclusive: Unacademy in talks to merge with Orchid schools owner K12 Techno

Unacademy and k12 techno merger

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

Unacademy news

Principal Engineer

That shitshow of a company called Unacademy is in tatters, Byju’s is being chased by lenders globally and these fkers have the audacity to do acquisitions????

Unacademy continues to lay off more people every month! HOW TF IS ONE OF THEIR COMPANIES SPENDING MONEY ON ACQUISITION????

What a shit show.

Graphy just bought Scenes???

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

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

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

What's up with Unacademy?

Product Marketing Manager

A lot of noise inside unacademy around this news.

Apparently Gaurav will move aside and let Mrinal Step in and take over as CEO role to help Unacademy grow. This has been confirmed by senior folks from the Unacademy CEO's office team. 

Edtech space is truly getting hot with each passing day. Official announcement later this week.

Mrinal Mohit joining Unacademy as CEO

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.

Unacademy is up for sale!

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