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

Damn, this is like the entire offline education fraternity playing uno reverse post Byju<>Aakash fuckery Karma is real🫣

E tuition is becoming a brick and mortar tuition center. So much for that so called innovative startups. But am happy its going down the drain.

As Ravi Shastri would say, "In the end, c̶r̶i̶c̶k̶e̶t̶ PeakXV is the winner" Rarely come across a scenario where the VC has lost for poor decision making.

What’s orchid schools? Never heard .. I thought unacademy is a big org? Was it just a house of cards?

This is crazy Out of nowhere, after some recent rumours here of acquisition I wonder what the valuation is. But Unacademy = K12 Education after all these years

Showoff like new category creators with VC money and then this....

Big L for Unacademy

Unacademy’s last 12 months performance IIT and NEET centres - 340 crores UPSC Centres - 30 crores Online Test Prep - 285 crores ⁠UPSC - 80 crores K12, IIT JEE NEET - 60 crores Bank PO SSC - 20 crores Legal exams - 20 crores ⁠⁠CAT- 30 crores ⁠⁠GATE - 40 crores CA - 25 crores State govt exams - 10 crores Total revenue - 655 crores ————————————— Offline Cash burn - 240 crores Online cash burn - 210 crores Total cash burn - 450 crores ————————————— Bad bad bad shape, I think this is the end for Munjal, he has lost all credibility The layoffs list is getting ready, brace for impact, UA folks…

Lagta hai, Unacademy will become "Mujhse-nhi-hoga"Academy

K12 Techno is backed by PE players. Expect more layoffs if this merger goes through.

Both have shit cultures. Match made in heaven

Game over

Unacademy's only real business is offline test prep, hence, this makes sense. They were desperately trying to enter a new geography / industry with their recruitment product, duolingo clone, some b2b SaaS shit, and what not. They know they can't justify their valuation ($3.2B) with just the offline test prep business. It cannot be bigger than Allen which is <$2B. Guess they have accepted defeat. K12 Techno was valued at $800M-ish in their last round which was very recent. If that's the value at which this merger takes place, they are looking at a valuation correction of nearly $2.4B. Unacademy gets to live another day. K12/test prep continues to die.

Achaaaa, that’s why Munjal ji ke tweets aise the. Banda exit marke kuch aur karega INNOVATION!

Damn this is terrible news for EdTech industry!!!

Two train wrecks trying to justify 5B valuation.

Back to square one.