Unacademy is Uncompany now

Link: https://inc42.com/buzz/unacademy-fires-another-250-employees-to-turn-profitable/

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.

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?

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?

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.

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.

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

So again Unacademy has asked people to leave, and asked them to resign. Leadership is so clueless about what they are doing, they fired 3-4 people whom they had hired a month ago. Imagine the situation 😂 And I don't see this stopping at Unacademy anytime soon They are aching left, right and centre. Still some people are making advt videos with Sachin. And the nalla has time to tweet and enjoy vacation, I pity the investors who funded them.

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.