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News on Medial
Here’s what Unacademy CEO has learnt about saying no to lucrative debt & M&A opportunities
Inc42
·
1y ago
Medial
Unacademy CEO Gaurav Munjal revealed that the edtech startup turned down a $500 million debt offer and several merger and acquisition opportunities over the past two years. Munjal defended these decisions and highlighted the importance of making choices based on first principles. He also discussed the challenges of transitioning from growth to profitability, the value of building a strong brand, and the need for a balanced focus on marketing and product quality. Munjal expressed his belief in the future of online learning and stressed the long-term potential of tech companies in India.
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Unacademy to record best year of growth, ignore rumours: CEO Gaurav Munjal clarifies after latest layoff round
Livemint
·
1y ago
Medial
Unacademy CEO Gaurav Munjal has responded to rumors about the company's future, stating that it will have its best year in terms of growth and profitability in 2024. He emphasized that Unacademy has a long-term vision and dismissed the speculations. The clarification comes after Unacademy announced laying off 250 employees. Munjal also quoted Mark Twain, saying that reports of their downfall have been exaggerated. This news follows the recent challenges faced by Indian tech startups, including layoffs and financial difficulties. Unacademy is reportedly exploring a potential merger with K-12 Techno Services.
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Perplexity's Indian CEO says 'I must get green card', Musk agrees
Inshorts
·
7m ago
Medial
US-based Perplexity AI's Indian-origin CEO Aravind Srinivas posted on X saying, "I think I should get a green card" in the US and asked users what they think about it. Replying to Srinivas' post, X CEO Elon Musk said, "Yes." Srinivas had said in October that he has been waiting for his green card for three years.
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We've to accept reality: Unacademy CEO on Altman's hopeless remark
Inshorts
·
2y ago
Medial
Gaurav Munjal, CEO of Unacademy, responded to Sam Altman's statement that it is "hopeless" to compete with OpenAI in training AI models, saying that they need to acknowledge the reality. Munjal emphasized that Unacademy did not aim to build a global social network or an operating system, and expressed surprise at the offense taken. He stressed the importance of fostering a stronger ecosystem in India to cultivate the emergence of the next OpenAI.
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Unacademy CEO commented on post about startup failures day before 250 layoffs
Inshorts
·
1y ago
Medial
Unacademy CEO Gaurav Munjal on July 1 commented "Hits the right chords" on a post about startup failures shared by Zeta's CEO Bhavin Turakhia on X. "Premature Founder Boredom is a recipe for failure amongst startups," Turakhia wrote. Munjal's comment on Turakhia's post came just a day before his edtech startup Unacademy announced laying off 250 employees.
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JM Financial's Sonia Dasgupta on a stellar FY24 and the ambition for a better FY25
VCCircle
·
1y ago
Medial
JM Financial, a leading investment banking firm, had a successful financial year in FY24. Sonia Dasgupta, MD & CEO of investment banking at JM Financial, spoke about the company's ambitions for an even better FY25. Established in 1973 by Nimesh Kampani, JM Financial has become a prominent player in the investment banking industry, competing with other major dealmakers. The firm offers a range of services, including M&A, equity, private equity, debt, and advisory.
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Unacademy CEO announces no salary hikes while wearing $400 t-shirt
Inshorts
·
11m ago
Medial
During a virtual town hall, Unacademy CEO Gaurav Munjal announced that employees would not receive appraisals this year due to unmet growth targets. While delivering the news, he wore a $400 Burberry T-shirt, sparking social media backlash. Users criticised the CEO for maintaining his luxury lifestyle while cutting employee benefits.
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Grind for a decade, no one cares for 7.5 yrs & hates you for remaining 2.5 yrs: Altman
Inshorts
·
3m ago
Medial
OpenAI CEO Sam Altman talked about how his life has been while working at the AI startup. "Be me," he wrote, saying that after his 10-year grind, most people didn't care for first 7.5 years but hated him for remaining 2.5 years. "Wake up one day to hundreds of messages...'Look I made you into a twink ghibli style," he posted.
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You've ₹15,000cr due, why only settle BCCI's ₹158cr: SC to BYJU'S
Inshorts
·
9m ago
Medial
Supreme Court on Wednesday questioned BYJU'S ₹158-crore settlement with BCCI, saying, "You (BYJU'S) have ₹15,000 crore due. Why did you pick up only BCCI? What about others?" It also said NCLAT's decision to close insolvency proceedings against BYJU'S "doesn't show any application of mind". The court was hearing a petition filed by US-based lenders of BYJU'S against the NCLAT's ruling.
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Byju Failed As He Didn't Listen To Anyone: Unacademy CEO
Inc42
·
1y ago
Medial
Unacademy CEO Raveendran warned against putting oneself on a pedestal and emphasized the importance of listening to feedback. Gaurav Munjal, CEO of Unacademy's competitor, suggested that founders should always take action based on feedback and criticized the inflated valuations of startups in 2021. Ronnie Screwvala, founder of upGrad, expressed concern about the reputation of the entire industry being undermined due to the actions of one company, referring to BYJU'S.
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Unacademy CEO Gaurav wears ₹33,000 t-shirt while announcing no appraisal for employees
Inshorts
·
11m ago
Medial
Unacademy CEO Gaurav Munjal was seen wearing a Burberry t-shirt said to cost ₹33,000 while announcing that employees will not receive any appraisal this year. A video of the virtual town hall surfaced on social media, in which Munjal urged employees to look at the bigger picture. "I know I said that we'll do appraisals...we made a mistake," he said.
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