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Physics Wallah lays off 120 employees

Economic Times

Economic Times · 1y ago

Physics Wallah lays off 120 employees

Edtech startup Physics Wallah is considering laying off 70-120 employees, representing less than 0.8% of its workforce, due to performance concerns. The company plans to hire 1,000 additional employees in the next six months. Physics Wallah, which offers coaching for engineering and medical entrance exams, became a unicorn last year after raising $100 million in funding. It aims to generate a revenue target of Rs 2,500 crore in FY24, with Rs 1,900 crore from its core operations.

Related News

Physics Wallah launches offline ESE, GATE and SES centre in Delhi

IndianStartupNews

IndianStartupNews · 1y ago

Physics Wallah launches offline ESE, GATE and SES centre in Delhi

Indian edtech unicorn Physics Wallah has launched its first offline centre in Saket, Delhi, offering coaching for competitive exams like ESE, GATE, and SES. This move is part of Physics Wallah's expansion plan to establish 18 new educational centres across 12 cities, with an investment of approximately Rs 120 crore. The centre aims to provide comprehensive exam preparation, personalized mentoring, and access to advanced educational resources. Physics Wallah is a leading edtech startup in India, offering online and offline coaching for competitive exams.

Remove ads put outside Physics Wallah centres calling it 'sasta wallah': HC to Scholars Den

Inshorts · 8m ago

Remove ads put outside Physics Wallah centres calling it 'sasta wallah': HC to Scholars Den

Delhi High Court ordered Scholars Den to temporarily stop publishing and broadcasting ads calling Physics Wallah "sasta wallah" (cheap one). The edtech firm contended that Scholars Den is promoting itself using the ads, sometimes displayed outside Physics Wallah's centres, by indicating that its courses aren't good as they're not expensive. Physics Wallah is known for providing affordable courses.

Unacademy CEO Gaurav Munjal Defends Physics Wallah Amid IPO Buzz

Economic Times

Economic Times · 4m ago

Unacademy CEO Gaurav Munjal Defends Physics Wallah Amid IPO Buzz

Unacademy CEO Gaurav Munjal defended Physics Wallah as it approaches an IPO, countering criticism from investor Aniruddha Malpani. Malpani likened Physics Wallah to a "poor cousin of Byju's" and criticized the coaching culture. Munjal refuted this by highlighting Physics Wallah's positive impact on economic mobility, contrasting it with the troubles faced by Byju's. Physics Wallah, a prominent edtech platform, recently confidentially filed for an IPO, serving millions across India.

Physics Wallah Launches PW Institute Of Innovation

OutlookIndia

OutlookIndia · 2y ago

Physics Wallah Launches PW Institute Of Innovation

Physics Wallah, an EdTech startup, has launched "PW Institute of Innovation." The new initiative aims to provide innovative and high-quality educational resources in the field of physics. With this launch, Physics Wallah seeks to enhance its offerings and cater to a broader audience of students, offering them opportunities for advanced learning and skill development in physics-related subjects.

Physics Wallah says cautiously monitoring market for opportunities

Economic Times

Economic Times · 1y ago

Physics Wallah says cautiously monitoring market for opportunities

Edtech company Physics Wallah is cautiously exploring opportunities aligning with its vision to ensure sustainability. Having secured $100 million in Series A funding at a $1.1 billion valuation in 2022, Physics Wallah aims to thrive amid a stretched funding landscape. The company has also ventured into offline teaching and formed school partnerships, believing that schools will remain integral to the Indian education system. Physics Wallah has pledged $10 million for its school-integrated program and is targeting international expansion in the GCC (Gulf Cooperation Council) region.

Physics Wallah eyes offline expansion in 2024 with 100 physical centres

Economic Times

Economic Times · 1y ago

Physics Wallah eyes offline expansion in 2024 with 100 physical centres

Edtech unicorn Physics Wallah plans to expand its offline presence to 100 centers in 2024, up from 64. Co-founder Prateek Maheshwari stated that the expansion will be funded from the Rs 100-crore corpus allocated for two years starting January 2023. Physics Wallah aims to reach 2.4 lakh students, up from 1.4 lakh in the previous year. The company is set to enter Tamil Nadu through a partnership with Xylem Learning in 2024. Physics Wallah is also developing Alakh AI, a language-agnostic generative AI study companion, set to launch in February 2024.

Physics Wallah shrugs off profit drop, plans more offline centres

Economic Times

Economic Times · 1y ago

Physics Wallah shrugs off profit drop, plans more offline centres

Physics Wallah, a test prep startup, plans to open more offline centres despite a decline in profit. The company aims to open as many centres as possible, even if it affects profitability. Physics Wallah currently operates 130 offline coaching centres in 105 cities and plans to open another 50. The offline segment currently contributes 40% of total revenue and the company aims to increase this to 45%. Targeting a stronger offline presence, Physics Wallah is focusing on building experience rather than immediate profitability. The company's revenue from operations tripled in FY23 due to offline expansion.

Physics Wallah’s Maheshwari on keeping powder dry, FY25 growth and more

VCCircle

VCCircle · 11m ago

Physics Wallah’s Maheshwari on keeping powder dry, FY25 growth and more

Last week, edtech unicorn Physics Wallah raised $210 million in its Series B round, led by Hornbill Capital and with participation from Lightspeed Venture Partners, GSV, and WestBridge. The funding comes despite the company not having an urgent need for capital. Physics Wallah, founded by Prateek Maheshwari, offers online physics courses for students in India. The company plans to use the funding for expansion, focusing on growth and product development.

Edtech unicorn Physics Wallah raises $210 mn in Series B, valuation jumps 2.5x

VCCircle

VCCircle · 11m ago

Edtech unicorn Physics Wallah raises $210 mn in Series B, valuation jumps 2.5x

India-based edtech unicorn, Physics Wallah, has raised $210 million in a Series B funding round led by Hornbill Capital. The funding brings the company's post-money valuation to $2.8 billion, more than 2.5 times its valuation from the previous round. Physics Wallah plans to use the funds to expand its reach, enhance technological capabilities, and continue delivering learning experiences. The company will also focus on inorganic expansion, entering the K-12 education segment, and improving content offerings. Physics Wallah offers online and offline courses for various entrance and state board exams and has a student base across 18,808 pin codes.

Physics Wallah Partners with YCMOU to Offer Online, Credit-Based Degree Programs

StartupTalky

StartupTalky · 1m ago

Physics Wallah Partners with YCMOU to Offer Online, Credit-Based Degree Programs

Physics Wallah and Yashwantrao Chavan Maharashtra Open University (YCMOU) have partnered to offer online, credit-based degree programs, including MBA, MCA, MA in English, and BCA, following UGC/AICTE norms and NEP 2020 recommendations. This collaboration integrates YCMOU's academic oversight with Physics Wallah's digital infrastructure to enhance access to higher education. Physics Wallah will handle technology and content, while YCMOU manages academic compliance and degree issuance, aiming to create a scalable, digitally inclusive education model.

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