Unacademy’s co-founder and CEO, Gaurav Munjal recognized that the business has taken steps to increase profitability but needed to be more. To guarantee the company’s success, according to Munjal, they must dig deeper and take additional steps.
Unacademy Laid Off Around 380 Employees, Which Is 12% Of Their Workforce, In The Fourth Round Of Layoffs In the Last 12 Months.
The second biggest Edtech company in India, Unacademy reportedly will let off approximately 380 employees or 12% as part of its fourth round of mass layoffs, according to an internal letter written by the co-founder and CEO. Globally, the tech sector is implementing stringent cost-cutting measures as the boom experienced during Covid fades.
Unacademy, which was founded in 2015 by Munjal, Roman Saini, and Hemesh Singh, offers an online learning platform for getting ready for different competitive exams. The company has raised $877 million in fundraising so far, and in August 2021, when it raised $440 million from Temasek, General Atlantic, and other investors, its latest valuation was $3.4 billion.