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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The exit makes K-12 a two-horse race and raises an important question—if Unacademy, with all its might, can’t build a sustainable business in the segment, who can?
The K-12 segment—edtech terminology for kindergarten through the 12th grade—has claimed its latest victim. And it is a big one. Unacademy, India’s second-largest edtech company with a valuation of $3.4 billion, is shutting down its K-12 business with immediate effect, according to three people in the know.
“They stopped new sales in the K-12 segment from 1 March. Organic sales will continue for 90 days, starting 1 March and then they will shut down completely,” says one person, requesting anonymity. “All the people in the segment are being moved to different verticals.”
A second person confirms this. “Just six months …
Believing education is the key to success, Unacademy raised $880 million and reached a $3.4 billion valuation, only to crash 90%. Its co-founder and CEO gets candid about the state of the startup and Indian edtech.
Physics Wallah’s desperate pursuit of growth has led to another bold announcement. The latest move centres around one of India’s most competitive test-prep pockets.
AI is set to disrupt the sector. While the path ahead looks tough for legacy publishers like S Chand Publishing and Arihant Publications, things don’t look encouraging for others in the industry either.
