The Indian education system has undergone a remarkable transformation in recent years, with the rise of ed-tech startups catering to students from all backgrounds. Unacademy, founded in 2015 by Gaurav Munjal, Hemesh Singh, and Roman Saini, has made a name for itself as one of the most popular ed-tech companies in India.
The company was built on Gaurav’s YouTube channel, which was then turned into an ed-tech company with the collective efforts of Hemesh Singh and Roman Saini.
Hemesh Singh, now Unacademy’s co-founder and Chief Technology Officer, is responsible for driving the company’s technological advancement. Singh is an engineer who completed his BTech degree from Motilal Nehru National Institute of Technology. Before co-founding Unacademy, he served as the CTO of Flatchat.
Unacademy – The Gamechanger
Unacademy aims to provide a platform for students to prepare for competitive exams like UPSC without having to spend a fortune. The company offers a wide range of courses and study materials online, making it accessible to students across the country. As a result, Unacademy has become a game-changer in the education industry.
Unacademy has been particularly helpful to thousands of IAS aspirants preparing for UPSC exams through YouTube. The company’s aim is to democratize education and make quality education available to everyone, regardless of their economic background. Unacademy offers a platform where students can interact with top educators, attend live classes, and have access to a vast library of study materials.
Success and Valuation of Unacademy
The company’s success is a testament to its founders’ hard work and dedication. As of 2022, Unacademy was valued at $3.44 billion, and its founders have been successful in building their personal wealth.
In 2022, Gaurav Munjal received a pay of Rupees 1.58 crore as CEO of Unacademy, while Hemesh Singh earned Rupees 1.19 crore. Roman Saini, the third co-founder, was paid Rs 88 lakhs. However, in 2023, the startup announced a 25% pay cut for the founders, owing to the recession and the layoffs.
Innovative Approach and Educational Impact
Unacademy’s success can be attributed to its innovative approach to education. Unlike traditional classroom-based learning, Unacademy’s online platform allows students to learn at their own pace and from the comfort of their homes. This has made it particularly appealing to students in remote areas or those who cannot afford expensive coaching classes.
The company’s focus on quality education has also been a significant factor in its success. Unacademy’s courses are designed and taught by some of the country’s top educators, ensuring that students receive the best possible education. The platform’s interactive nature allows students to ask questions and receive feedback from their teachers, creating a more personalized learning experience.
Unacademy’s impact on the Indian education sector has been significant. Its focus on making quality education accessible to everyone has been particularly beneficial to students from disadvantaged backgrounds. The company’s innovative approach to education has also inspired other ed-tech startups to follow suit, creating a more competitive and vibrant education ecosystem.
In conclusion, Unacademy has become a leading ed-tech company in India, thanks to the hard work of its founders, including Hemesh Singh, who plays a crucial role in the company’s technological advancement. Its inclusive approach to education has made quality education accessible to students across the country, creating a more equitable education system. Unacademy’s success is a testament to the power of technology and innovation in transforming the education sector.
1. What are the fees of Unacademy?
Unacademy, a renowned online learning platform, offers a diverse range of courses tailored to various competitive exams such as NEET, UPSC, JEE, CA Foundation, SSC CGL, and more. Each course on Unacademy comes with its own fee structure, catering to the specific needs and requirements of the learners. It’s recommended to visit the Unacademy website or download the app to explore specific course details, fees, and offerings, as they may vary and be subject to updates.
2. Who are the founders of Unacademy?
Hemesh Singh, Gaurav Munjal, and Roman Saini were co-founders of Unacademy. At Unacademy, Gaurav Munjal holds the position of CEO. Hemesh Singh, an educator, and Roman Saini, a former Indian Administrative Service (IAS) official, were instrumental in creating the platform that allows students preparing for numerous competitive exams in India to receive high-quality instruction..
3. How is Unacademy different from others?
Unacademy stands out by offering personalized coaching with individual faculty, 24/7 doubt resolution via chat and video, flexibility to learn from different batches, occasional course discounts, and mock tests. This unique approach ensures tailored support, constant assistance, and diverse learning options, setting Unacademy coaching apart from other platforms for exam preparation.
4. Is Unacademy a profit-making company?
In FY22, Unacademy’s income increased significantly by 80.7% to Rs 719 crore. But in contrast to FY21, its losses increased by more than 85% to Rs 2,848 crore. As of the most recent data available, the company has not reached profitability at the group level, despite efforts to improve financial metrics and substantial funding rounds.