Unacademy

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Unacademy
TypePrivate
Industry
Founded2015; 6 years ago (2015)
Founder
  • Gaurav Munjal
  • Roman Saini
  • Hemesh Singh
Headquarters
Area served
India
ProductsUnacademy app, website
RevenueIncrease US$11.15 million (2020)
DecreaseUS$-31 million (2020)
Subsidiaries
  • CodeChef
  • Wifistudy
  • Prepladder
  • Kreatryx
  • Mastree
  • Coursavy
  • Neostancil
  • Tap chief
Websitewww.unacademy.com

'Unacademy' is an Indian educational technology company, based in Bangalore. Originally created as a YouTube channel in 2010 by Gaurav Munjal,[1] the company was founded in 2015 by Munjal, Roman Saini, and Hemesh Singh.[2][3][4] The company has a network of over 18,000 educators, and offers preparation material for several professional and educational entrance exams. Unacademy lessons are in the form of Live Classes both free and via subscription.[5][6]

History[edit]

Unacademy started in 2010 as a YouTube channel by Gaurav Munjal. In 2015, Unacademy was officially registered as an education company in Bangalore. A privately held company, Unacademy has secured funding through a series of offerings,[7][8] including investments from US private equity firm General Atlantic, Facebook, Nexus Ventures, Blume Ventures, and Flipkart CEO Kalyan Krishnamurthy.[9] As of December 2020, Unacademy was valued at US$2.0 billion.[10]

Acquisitions[edit]

  • In 2018, Unacademy acquired Wifistudy for $10 million. Wifistudy is a YouTube-based online exam preparation and learning platform founded in 2013 by Dinesh Godara. Wifistudy focuses on preparation for competitive public-sector exams such as SSC, banking, railway, and state police.[11][12]
  • Kreatryx, founded in 2014 by Ankit Goyal, was acquired by Unacademy in early 2020 to expand GATE and ESE preparation services.[13]
  • Unacademy acquired Mumbai-based online competitive programming platform CodeChef in June 2020.[14]
  • Unacademy acquired Chandigarh based NEET PG on-line coaching Prepladder for $50 million in July 2020.[15]
  • Unacademy acquired major stake in Mastree, a K12 learning platform, by investing $5 million in July 2020.[16]
  • Unacademy acquired UPSC test prep platform Coursavy in Sept 2020.[17]
  • In December 2020, Unacademy acquired Delhi NCR-based test prep startup Neostencil.[18]
  • Unacademy acquires majority stake in TapChief, in February 2021.[19]
  • In March 2021, Unacademy acquires CAT prep platform Handa ka Funda. [20][21]

2020 Data Breach[edit]

In May 2020, Unacademy's security came into question with a 'For Sale' ad on the Dark Web, which promised to sell 22 Million Unacademy accounts' sensitive information for $2000. The data dump (as obtained and claimed by few researchers) included Names, Usernames, Email Ids, Passwords, and other account details. Unacademy authorities later confirmed that almost 11 Million accounts got compromised. In a statement, Unacademy claimed that no sensitive information had been compromised and nothing valuable was misused.[22][23]

See also[edit]

References[edit]

  1. ^ "Unacademy: A New (digital Education) Academy". Forbes India. Retrieved 2020-04-12.
  2. ^ "Unacademy to conduct free full-length UPSC CSE Prelims – General Studies Paper Mock Tests for 2020 UPSC aspirants - Times of India". The Times of India. Retrieved 2020-04-12.
  3. ^ World, Republic. "Unacademy provides a platform for seamless education amidst Corona Fear". Republic World. Retrieved 2020-04-12.
  4. ^ "24-Year-Old Roman Saini Quits IAS To Turn Into A E-Tutor". Huffington Post.
  5. ^ Shrivastava, Apurwa (2019-09-05). "Making Quality Education Affordable And Accessible, These Front Runners Are Transforming The Learning Ecosystem Through Innovative Solutions". thelogicalindian.com. Retrieved 2020-06-15.
  6. ^ Vankipuram, Meera (2020-02-24). "Unacademy, Byju's success lifts fortunes of edtech start-ups". Livemint. Retrieved 2020-05-09.
  7. ^ www.ETtech.com. "Unacademy secures $11.5M funding led by Sequoia India & SAIF Partners - ETtech". ETtech.com. Retrieved 2020-04-12.
  8. ^ "Online learning platform Unacademy gets $21M Series C from Sequoia India, SAIF and Nexus". TechCrunch. Retrieved 2020-04-12.
  9. ^ "Unacademy raises $110 million led by Facebook, General Atlantic". The Week. Retrieved 2020-04-12.[self-published]
  10. ^ Mittal, Aarzoo (2020-07-14). "Unacademy acquires majority stake in Mastree at over Rs 100 Cr valuation". Entrackr. Retrieved 2020-08-10.
  11. ^ Patwa, Prasannata (2018-10-26). "Unacademy acquires exams preparation start-up WiFiStudy". Livemint. Retrieved 2020-04-12.
  12. ^ Bansal, Varsha (2018-10-26). "Unacademy acquires test prep platform Wifistudy". The Economic Times. Retrieved 2020-04-12.
  13. ^ Vankipuram, Meera (2020-03-31). "Unacademy acquires GATE, ESE prep platform Kreatryx". Livemint. Retrieved 2020-04-12.
  14. ^ "A new home for CodeChef!". CodeChef. 2020-06-18. Retrieved 2020-09-27.
  15. ^ www.ETtech.com. "Unacademy acquires medical entrance preparation platform PrepLadder for $50 million - ETtech". ETtech.com. Retrieved 2020-08-25.
  16. ^ Mathur, Nandita (2020-07-14). "Unacademy leads a strategic investment of $5 mn in Mastree". Livemint. Retrieved 2020-08-26.
  17. ^ "Unacademy acquires test preparation startup Coursavy". The Economic Times. Retrieved 2020-09-26.
  18. ^ "Unacademy Makes Its Sixth Acquisition Of 2020 With Test Prep Startup NeoStencil". Inc42 Media. 2021-01-01. Retrieved 2021-01-19.
  19. ^ "Unacademy acquires majority stake in TapChief". The Economic Times. Retrieved 2021-02-16.
  20. ^ "Unacademy acquires Handa Ka Funda to further CAT and MBA preparation platform". CIOL. 2021-03-30. Retrieved 2021-04-19.
  21. ^ "All 9 Acquisitions By Unacademy So Far (6 of them happened in 2020!)". CIOL. 2021-01-12. Retrieved 2021-04-19.
  22. ^ "Unacademy Hacked: 22M User Data Leaked | Details on Data Dump". Hack Reports. 2020-05-07. Retrieved 2020-05-18.
  23. ^ Ahaskar, Abhijit (2020-05-06). "Millions of Unacademy user accounts exposed in data breach: Report". Livemint. Retrieved 2020-06-15.

External links[edit]

Official website