The move follows Unacademy’s leadership transition, with co-founder Sumit Jain heading test prep, and Gaurav Munjal and Roman Saini set to lead AirLearn independently.
The move comes four months after Gaurav Munjal stepped back from day-to-day roles, as Unacademy advances its succession plan and sharpens focus on unit economics
With cash burn down, Munjal said that Unacademy is steering clear of acquisition-led growth – calling it a failed strategy in edtech – to focus instead on core business profitability, product innovation, and disciplined execution
The attendees included prominent startup ecosystem figures like Paytm’s Vijay Shekhar Sharma, Unacademy’s Gaurav Munjal, Fractal’s Srikanth Velamakanni, Ixigo’s Aloke Bajpai, HeathifyMe’s Tushar Vashisht, and Aakrit Vaish - advisor to the India AI Mission
With $170 million in cash reserves and no debt, Unacademy reportedly has a financial runway exceeding four years, Gaurav Munjal said.
Despite achieving a 100-day streak on Duolingo for Spanish, Gaurav Munjal confessed that he was unable to speak or write the language fluently. He attributed this to the app's oversimplified approach and lack of focus on fundamental grammar concepts.
Gaurav Munjal, CEO of the ed-tech platform Unacademy, took to social media to share his excitement after securing tickets for British band Coldplay’s much-anticipated concert in India. As soon as the band announced their return to India, set for January 2025, fans across the country erupted in joy, flooding social media with excitement and plans to attend.
In his virtual address, Gaurav Munjal acknowledged that while 2023 was an average year for Unacademy, 2024 had been slightly better but still below expectations.
The Unacademy head has gathered support from business leaders such as Ola Electric founder-chairman Bhavish Aggarwal and the founder-CEO of Oyo Ritesh Agarwal.
Unacademy's 250 job cuts affected 100 employees from core functions such as marketing, business, and product, with the remaining 150 from sales, sources said.
The crux of Gaurav Munjal’s critique of Byju Raveendran, the founder of Byju’s, centered on his leadership approach.
Writing on X (formerly Twitter) on Friday, Unacademy CEO Gaurav Munjal recently referred to Bengaluru as India's best city and added that everyone that he had met recently wanted to move to the Karnataka capital.
Writing on X (formerly Twitter), Unacademy CEO Gaurav Munjal said that building business in India was a long game and admitted that it took 15-20 years to build an iconic company.
'The goal of tech parks in Mumbai and Delhi should be to convert people to go to Bangalore,' said Unacademy founder Gaurav Munjal who studied in Mumbai before moving to Bengaluru.
Writing on X (formerly Twitter), the doctor wrote in response to Gaurav Munjal's earlier query in which he asked the man whether he was referring to NEET, JEET and United Public Service Commission (UPSC) exams as dumb.
Unacademy currently has Rs 1,800 crore in the bank.
Purri has 25 years of experience in leadership roles across industries and driving large-scale changes that transform businesses by keeping people at the centre.
Unacademy founder Gaurav Munjal shared snippets from the week-long event where several entrepreneurs interacted with Rishi Sunak.
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Gaurav Munjal's tweet reacting to Sam Altman's comments about India building a ChatGPT-like tool generated numerous comments, with many agreeing with his views.
In February, Munjal had said that Unacademy will not be giving employees a cash appraisal for FY24 (2023-24) adding to a long list of cost-cutting initiatives the edtech has taken in the last 15 months to prioritise profitability amid worsening funding winter.
Unacademy’s hope may lie in offline coaching centres, which go against its original goal of tech-driven disruption, but are a dependable and lucrative business model
Unacademy expects a revenue of Rs 1,250 crore in 2023 on a consolidated basis, up from Rs 992 crore in 2022, Co-Founder and CEO Gaurav Munjal told employees in a message. During the period, it sees its core operating revenue dropping to Rs 620 crore from Rs 732 crore from 2022, he told employees.
The latest of the cost-cutting initiatives comes just a day after the SoftBank-backed edtech unicorn, currently India's second-most valued edtech startup, laid off close to 380 employees or about 12 percent of its staff to cut costs with an aim to acheive profitability, at least at the core level.
SoftBank-backed Unacademy has sacked another 12 percent of staff or about 380 employees in its fourth official round of layoffs.