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‘Come to Bengaluru, increase your odds of success’: Unacademy’s Gaurav Munjal
Livemint
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1y ago
Medial
Unacademy CEO Gaurav Munjal advises entrepreneurs to relocate to Bengaluru for a higher chance of success. He states that the startup environment in Mumbai and Delhi is less conducive compared to Bengaluru. Munjal emphasizes the importance of focusing on product-market fit and sacrificing other factors for success. He praises Bengaluru's innovation ecosystem as a major advantage for startups, despite the city's challenges. Unacademy, an edtech startup, raised $877 million and was valued at around $3.44 billion in 2021.
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Bengaluru is better than Mumbai, Delhi for startups: Unacademy CEO Gaurav Munjal
Inshorts
·
1y ago
Medial
Unacademy CEO Gaurav Munjal has asked entrepreneurs to choose Bengaluru over Mumbai and Delhi to establish their startups. "Bengaluru is a slower city than Mumbai but the odds of your success increase a lot," Munjal said. "If I have to spend a weekend, I will choose Mumbai, but if you're starting up, Bengaluru," he added.
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Exclusive: Ex-Unacademy CBO Abhinav Agarwal’s New Eyewear Startup Raises $2.2 Mn
Inc42
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1m ago
Medial
Abhinav Agarwal, former CBO of Unacademy, has raised $2.2 million in seed funding for his new eyewear startup, currently in stealth mode. The funding round was led by India Quotient with participation from notable angel investors like Unacademy’s Gaurav Munjal, CRED’s Kunal Shah, and Snapdeal’s Kunal Bahl, among others. The startup plans to sell products online and in physical stores, with a formal launch expected in the coming months.
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Unacademy slashes core biz cash burn to Rs 200 Cr in 2025: Gaurav Munjal
Entrackr
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3m ago
Medial
Unacademy slashes core biz cash burn to Rs 200 Cr in 2025: Gaurav Munjal Unacademy CEO Gaurav Munjal has shared an update on the company’s financial and operational performance. According to Munjal, Unacademy has reduced its cash burn in the core business from over Rs 1,000 crore annually three years ago to under Rs 200 crore this calendar year. This is about half of what the company spent last year. In a thread on social media platform X, Munjal said the company currently has Rs 1,200 crore in the bank and is in a “default alive” state. He added that some of Unacademy’s businesses, including Graphy and PrepLadder, are generating cash on a monthly basis. For context, the SoftBank-backed edtech unicorn cut its losses by 62% to Rs 631 crore in FY24, while its revenue remained flat during the period. Reflecting on past decisions, Munjal said edtech companies that grow through multiple acquisitions are unlikely to succeed in the current market. He said Unacademy had made this mistake earlier and is now focusing on profitability without getting distracted by external developments. On the offline front, Munjal said that around 70% of Unacademy’s centers are expected to be profitable at the center level this year. These centers are showing outcomes in exam categories such as JEE, NEET, and UPSC. He also pointed to Airlearn as the fastest-growing product within the group. Airlearn has recorded nearly 70,000 daily active users and $2 million in annual recurring revenue over the last 12 months. Munjal outlined three focus areas for the company: making the core business profitable, building tech products such as Airlearn and Graphy, and staying focused on internal goals instead of market noise.
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Unacademy's Gaurav Munjal hails Bengaluru as India's best city for entrepreneurs
Livemint
·
1y ago
Medial
Unacademy CEO, Gaurav Munjal, has praised Bengaluru as the best city in India and the ideal choice for aspiring entrepreneurs. Munjal highlighted the city's robust infrastructure, talent pool, pro-business policies, and vibrant entrepreneurial spirit as key advantages. However, some users disagreed with his assessment, suggesting alternative cities like Hyderabad, Gurgaon, Pune, Chennai, and Mumbai. Others mentioned the increasing trend of remote work and questioned the importance of location for tech-based companies.
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Unacademy has Rs 1,800 Cr in bank, runway of 4 years: Gaurav Munjal
Entrackr
·
1y ago
Medial
According to Unacademy's CEO Gaurav Munjal, the edtech company has Rs 1,800 crore ($241 million) in their bank account and a runway of four years. Munjal notes that the runway will increase to eight years next year as the company reduces its burn. Despite a 30% decline in online classes, Unacademy improved its EBITDA by 87%. Unacademy Centres recorded a significant increase in learners, from 6,000 in 2022 to 32,000 in 2023. Unacademy last raised $440 million in a Series H round, valuing the company at $3.44 billion.
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Indian Storytelling App Pratilipi becomes Cashflow Positive
Twitter
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1y ago
Medial
Ranjeet Pratap Singh announced on Twitter that Pratilipi is now Free Cash Flow positive, both operating and overall, effectively giving them an infinite runway. The tweet received widespread congratulations from the community, including notable figures like Gaurav Munjal and Vinay Singhal, celebrating the success and expressing their support and admiration for the Pratilipi team.
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Wealthtech Startup Infinyte.Club Bags $3.6 Mn From Elevation Capital, Others
Inc42
·
11m ago
Medial
Bengaluru-based startup, founded in 2023, has secured funding to enhance their technology and expand their team. The funding round included participation from notable angel investors such as Kunal Shah, Vidit Aatrey, Gaurav Munjal, Sanket Shah, Varun Dua, and Harshil Mathur. The startup's platform allows members to track their assets, manage equity portfolios, and access the value of their stock options.
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Edtech is here to stay: Unacademy CEO as cash flow turns positive
Twitter
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1y ago
Medial
Unacademy has turned cash flow positive in the April-June quarter, CEO Gaurav Munjal said, adding, "Edtech is f**king awesome and here to stay". Munjal said that the startup has reduced cash burn by 60% and has a runway of four years with the current cash reserves. "Online Business degrew by 30% but EBITDA improved by 87%," Munjal added.
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Unacademy's Graphy buys Gaurav Munjal-backed creator community platform Scenes
Money Control
·
2y ago
Medial
Graphy, a subsidiary of edtech platform Unacademy, has acquired Scenes, a creator community platform backed by Gaurav Munjal. Through this acquisition, Graphy aims to strengthen its offerings by providing a platform for creators to connect with their audience through short-form videos. The integration of Scenes' technology and community will further enhance Graphy's mission of democratizing learning and empowering creators in India. Scenes has raised about $50,000 in Seed round. Gaurav Munjal, co-founder and CEO is an investor in Scenes. Besides Munjal, Scenes counts Kunal Shah, Blume Ventures (also and investor in Unacademy), Better Capital, Tanmay Bhat and Flipkart's Kalyan Krishnamurthy as its backers.
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Why is there such a huge taboo around pivots: Unacademy Founder Munjal
Twitter
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1y ago
Medial
On Monday, Gaurav Munjal, the Founder of Unacademy Group, posted a tweet questioning the strong stigma associated with pivots. He mentioned that numerous successful global products have emerged through several pivots. Munjal advised embracing pivots as they are crucial for achieving Product-Market Fit (PMF) without encountering significant challenges.
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