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UNACADEMY COST CUT
UpGrad value pegged at $1.7 billion as Unacademy deal awaits CCI assentUpGrad's valuation hit $1.7 billion, with a confidential report revealing projected profitability for FY26. The edtech firm plans to acquir...- UpGrad-Unacademy deal closes; India’s largest private satellite lifts offHappy Monday! Upgrad is set to acquire Unacademy at a 90% markdown of its peak valuation. This and more in today's ETtech Morning Dispatch.
- Upgrad, Unacademy betting on AI to disrupt edtechGaurav Munjal, who will stay on as the cofounder and CEO of Unacademy, said the startup redefined the edtech playbook when it entered the m...
- After failed acquisition talks with Upgrad, Unacademy pivots back to online test prepIn an internal email to employees, cofounder and CEO Gaurav Munjal said Unacademy sharply reduced cash burn in its test prep business in ca...
- Upgrad in talks to acquire Unacademy for $300-320 million, 90% lower than its peak valuationUnder the proposed structure, Unacademy shareholders will receive shares in Upgrad, valued at $2 billion presently, sources told ET. The co...
- Unacademy’s FY24 losses narrow 62%, revenue declines 7% as business shrinksThe SoftBank-backed edtech startup, which has undergone multiple restructuring exercises, logged operating revenue of Rs 840 crore, down 7%...
- How Unacademy board tweaked targets for founders’ voting rightsEdtech unicorn Unacademy has changed the target for its cofounders Gaurav Munjal and Hemesh Singh to access additional voting rights throug...
- Unacademy launches gamified app for UPSC aspirantsThe new experiment at the Bengaluru-based startup comes at a time when the company is facing intense pressure to show profitability as Covi...
- Unacademy to be profitable at group level in April: CEO Gaurav MunjalWith a cash balance of Rs 1,977 crore and an average monthly burn of Rs 17 crore, the Unacademy group will have at least 116 months of runw...
- Unacademy leadership to take salary cuts of up to 25%, says edtech’s founder Gaurav MunjalIn a memo to employees, cofounder and CEO Gaurav Munjal told employees that the Bengaluru-based unicorn’s leadership including founders wil...
- Unacademy’s Gaurav Munjal says rival Classplus ‘definitely overvalued’Classplus competes directly with Unacademy’s Graphy, a software platform for course creators.
- Unacademy cuts another 350 jobs in second round of layoffsUnacademy CEO Gaurav Munjal said employees being laid off will receive severance pay equivalent of their notice period and an additional tw...
- Unacademy monthly burn down to $7 million from $20 million: CEO Gaurav MunjalTaking to Twitter on Friday (November 4), Munjal said, "Winter will get worse. Get to profitability asap. And then grow from there. Stop al...
- Unacademy acquires Gate Academy, launches 50 YouTube education channelsUmesh Dhande, the founder and a director at GATE Academy, will join Unacademy as its vice president, academics, GATE and ESE, the company s...
- Unacademy CMO Karan Shroff quits firmShroff took to Linkedin to announce his departure after a three-year stint at the edtech startup.
- Unacademy founders, management to take pay cuts; shut global test prep businessUnacademy chief executive Gaurav Munjal said in a note to his team that they must ‘embrace frugality as core value as the company eyes IPO ...
- Unacademy won't sack more workers to cut costs, CEO Gaurav Munjal clarifiesIn April, Unacademy fired around 1,000 employees to cut costs Of these, about 300 were educators who worked with Unacademy on a contractual...
- Edtech unicorn Unacademy’s consolidated loss widens to Rs 1,474 crore in FY21Unacademy's revenue from operations rose to Rs 337 crore in FY21 from Rs 65 crore in the previous fiscal year.
- Unacademy CEO says funding ‘winter is here’; tells employees to adapt, target profitabilityUnacademy had recently laid off over 600 employees as demand for online education slowed down due to opening up of offline institutes.
- What’s next for Unacademy as it slashes 1,000 jobs in a massive cost-cutting exerciseAccording to people aware of the matter, out of the 1,000 employees who have been fired in the past few weeks, about 300 were educators on ...
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