Edtech is a new revolution in the education sector among all age groups. Books and blackboards are replaced with online education. Byjus, Toppr, and Brainly are the leading ed-tech revolution. COVID boosted registrations on unacademy. This platform was designed for the perspective of a competitive exam and has now become one of the best ed-tech startups in India. Cracking difficult exams has become quite easy with this ed-tech platform in place. One can easily understand topics that are complex with unacademy.
The business model of the unacademy :
The hybrid model has been adopted containing both live sessions and pre-recorded classes. The advantages of live sessions are doubt-solving sessions, viewing classes offline, interacting with educators, assignments allotted class-wise, and group chats for further solving doubts. Live courses are given to paid users only.
There is a paid version of unacademy called unacademy plus. Variations are there in its subscription ranging from different competitive exams. Variations are done according to course and duration. Both monthly and yearly subscriptions are available. Free classes are pre-recorded ones. These videos are available in both playback speeds and quality. These will make them available in areas where the internet is not connected.
Research done :
It has been observed that $50 million is obtained from existing investors. Global, Dragoneer investment group, General Atlantic, and Steadview capital are some of them. Unacademy was also able to get $400 million from its investors. This company was the second to join the second unicorn club in the ed-tech domain. BYJU was the first to get this unicorn club position. Unacademy just bagged $159 million at $1.45 billion. Kreatryx is an online application platform for GATE and Engineering Service Exam which was acquired by unacademy.
Wifi study that was conducted :
CodeChef, an online platform for algorithms and coding, was launched to impart coding skills that are vertical for school kids. PrepLadder was acquired by Unacademy in 2020. Neostencil is their recent acquisition.
Future Acquisition :
After gaining control of six companies this platform now planned to acquire two-three additional companies in 2021. Expansion of the base market is the aim and goal of this company.
Major investors like Facebook, Unacademy, General Atlantic, and Sequoia Capital are doing quite well. Businesses can be taken to great heights and are equipped with substantial staff workers. This platform utilizes its potential to become one of the major industries in the market.