Unacademy cofounder and CEO Gaurav Munjal said around 70% of the edtech company’s offline centres are on the path of becoming profitable by the calendar year 2025. He claimed that the company has significantly reduced its cash burn in the core business and is likely to bring it down by nearly 50% year-on-year to Rs 200 crore in 2025. He mentioned that this figure was around Rs 1,000 crore three years back.
In a post on social media platform X on April 21, the 35-year-old CEO said that Unacademy is eyeing to make core business profitable and unlike its competitors, the company will not take an inorganic route for growth. His statement comes at a time when his competitors are betting on business strategies like acquisitions for expansion and growth.
“Any EdTech (and we have done this mistake in the past) that goes after multiple acquisitions to grow is bound to fail. It just doesn’t work in this Market. So keeping the “Blinders on” and not worrying about who is acquiring whom and focusing on Profit is the only way to go,” said the Unacademy cofounder.
Last week, Munjal defended one of its competitors, PhysicsWallah, against a comment made by an angel investor, Aniruddha Malpani, captioned, “The dark reality of PhysicsWallah”. The 35-year-old CEO said he is “privileged to have them as a competitor” in a post on X.
The 36-year-old CEO also highlighted that the businesses owned by the Bengaluru-headquartered edtech Startup, including Graphy and PrepLadder, are generating cash on a monthly basis.
In the same post, Munjal mentioned three goals of the company, including making core business profitable faster, developing tech products like Airlearn and Graphy, and not getting distracted by others in the business.
“We have three simple goals: make the core business profitable asap, build great tech products like Airlearn and Graphy, and don’t get distracted by what others are doing,” said the CEO in his post.
