Founded in 2010, Unacademy is a learning platform that targets school students between the sixth and eighth grades. Unacademy offers an array of services, including mock tests, question banks, and live webinars. Unacademy also provides Platform updates that may include bug fixes and new software modules. Unacademy also uses advertising and email marketing to generate leads and generate interest in its services. The site features hundreds of thousands of lessons. Unacademy is backed by various investors, including Nexus Venture Partners, Sequoia Capital, and SAIF Partners.
Unacademy may charge recurring services to a user’s credit or debit card. These services may include subscriptions for access to content. The company also makes use of various modes to send promotional communications, including email and text messages. Users can opt out of promotional communications within their accounts. Unacademy also sends information about events, including webinars, live videos, and physical events.
The company also sends information about its marquee financial backers, including Temasek Holdings and Blume Ventures. These companies are a key part of Unacademy’s strategy to capture a market dominated by free content. In May 2016, Unacademy received $500,000 in seed funding from Blume Ventures. In September 2020, Unacademy received a $440 million Series H round from Temasek Holdings. Unacademy will conduct an IPO in the next two years. Unacademy’s executives and managers are expected to receive pay cuts. Unacademy’s employees include on-roll employees and contractual educators.
The company’s CEO, Amit Munjal, has a solid grounding in the tech space. He studied engineering at the Narsee Monjee Institute of Management Studies (NMIMS) in Mumbai. He had previously run websites, including fashion blog and a YouTube channel. He also had experience running startups, which led to the company’s initial foray into the edtech space.
In addition to its website, Unacademy operates a YouTube channel. The site provides an array of promotional materials for educators, including videos, blogs, and email campaigns. Unacademy does not charge for registration or account creation. However, it may require a user to have a Supported/Compatible device. In addition, Unacademy may not offer business class travel to anyone, including CXOs.
Unacademy’s Refund Policy outlines the company’s commitment to consumer protection. While Unacademy makes no guarantee of confidentiality or integrity of User-generated content, the company has a solid policy in place. In the event that a User’s account is suspended or terminated, Unacademy will attempt to limit the frequency of such suspensions. In the event that a User’s access to the Platform is restricted for repairs or maintenance, Unacademy will not be liable for any losses resulting from such action.
The company also uses a range of cutting-edge marketing techniques, including social media marketing and email marketing. It is no secret that Unacademy is trying to turn its cash flow positive. In the last few weeks, the company laid off one thousand employees. The company has announced plans to expand in the offline education space. While Unacademy has laid the groundwork to succeed, the company still has a long way to go before it becomes cashflow positive.
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