Big: Unacademy merging with Orchid Schools in a 50-50 merger
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Damn, this is like the entire offline education fraternity playing uno reverse post Byju<>Aakash fuckery
Karma is real🫣
E tuition is becoming a brick and mortar tuition center. So much for that so called innovative startups. But am happy its going down the drain.
As Ravi Shastri would say, "In the end, c̶r̶i̶c̶k̶e̶t̶ PeakXV is the winner"
Rarely come across a scenario where the VC has lost for poor decision making.
For real
They do. But usually they close down and morph into a different name
What’s orchid schools? Never heard .. I thought unacademy is a big org? Was it just a house of cards?
It is a large national chain of schools
Oh nice .. will check out thanks .. finally schools merging with coaching .. What can go wrong 😑
This is crazy
Out of nowhere, after some recent rumours here of acquisition
I wonder what the valuation is. But Unacademy = K12 Education after all these years
Showoff like new category creators with VC money and then this....
Big L for Unacademy
Unacademy’s last 12 months performance
IIT and NEET centres - 340 crores
UPSC Centres - 30 crores
Online Test Prep - 285 crores
UPSC - 80 crores
K12, IIT JEE NEET - 60 crores
Bank PO SSC - 20 crores
Legal exams - 20 crores
CAT- 30 crores
GATE - 40 crores
CA - 25 crores
State govt exams - 10 crores
Total revenue - 655 crores
—————————————
Offline Cash burn - 240 crores
Online cash burn - 210 crores
Total cash burn - 450 crores
—————————————
Bad bad bad shape, I think this is the end for Munjal, he has lost all credibility
The layoffs list is getting ready, brace for impact, UA folks…
Lagta hai, Unacademy will become "Mujhse-nhi-hoga"Academy
K12 Techno is backed by PE players. Expect more layoffs if this merger goes through.