At The Age of 16, he cracked AIIMS examination. At the age of 22 he cracked UPSC, and left the job of IAS to started working on his own startup. It’s a real story, NOT a Filmy one !
There are many extra ordinary stories about some of the founders or co-founders of some startups, but this story is truly amazing.
We will try to present the story as a short film script!
31st December 2010
Gaurav Munjal, a final year Engineering student from NMIMS Mumbai, instead of going or planning for the party, he made an educational video about ‘Variables’ and uploaded it on YouTube .
Next week he again posted an educational video and did the same, and continued for many weeks.
As a result after a month he starts getting messages and positive response from the audience.
Gaurav didn’t focus on the YuTube Channel initially, and went for a job.
He worked in Directi and later set up his first company Flat.to in 2013. He sold Flat.to to Common Floor a year later.
The Entry of Roman Saini
Born on 27 July 1991 in Jaipur, Roman Saini is an important character of the Unacademy Story.
At the age of 16, he cracked AIIMS.
At the age of 22, he cracked UPSC and was serving in Jabalpur, Madhya Pradesh as Sub-Divisional Magistrate or Deputy Collector.
Gaurav and Roman were good friends.
Roman decided to join his YouTube and other platforms to provide classes for cracking reputed entrance exams.
The Formation and Rise of Unacademy
This was the time when traditional coaching institutions were on their full swing!
But these coaching institutions were mainly targeting tier 1 cities, and they had some limitations in terms of seating capacity and high fees.
Seeing the tremendous opportunity, Unacademy launched its App based platform to make the Quality Education Accessible.
This gave them a clear idea and vision to go ahead with the concept.
They started working on building a proper strong team.
Roman Saini quit his job of Sub Divisional Magistrate in 2015 and joined Sorting Hat Technologies, a company that Munjal had set up along with Hemesh Singh in September 2015.
The USP of Unacademy is that they try to target a huge market and provide Quality education under one umbrella.
They launched various other competitive courses and made good number of users.
Unacademy then became a marketplace as well where they allowed various tutors or educators to join their platform and to connect with students.
Later they introduced Subscription plan (Unacademy plaus) where the students have opportunity to enroll for any competitive course and they can even choose the tutor they want to learn from.
Means, if someone enrolls for UPSC, you get access for all educator who are teaching UPSC, he/she can choose any teachers, anytime.
The concept of ‘Structured Course’ , ‘Live course and Quizes with Written Analysis’ along with ‘Goal Set’ were some big add-on to boost the growth of Unacademy Plus.
They have 32 exam categories as of now, but very soon they are going to add many more categories as well.
The Concept of ‘Master Classes by Legends’ , where celebrities like Virat Kohli. Anushka Sharma, AB de Villiers , Kiran Bedi, Shashi Tharoor interact with students, which give Unacademy a good traffic.
They have 100,000+ paid users as of now, which is growing rapidly.
They made a revenue of 22 Crores in 2019, and till February 2020 it reaches to 120 Crores.
Gaurav said that the firm’s revenue in April was “more than all of 2017, 2018, and the first half of 2019 combined.”
The company claims to have seen an 82% surge in revenue in April when compared to the previous month while also registering more than 10X growth as compared to April 2019.
Unacademy is now expanding internationally. They recently started their services in Indonesia as well.
The main competition when it comes in Education sector is the Giant E- Learning App ‘BYJU’S’ and Vedantu.
These platforms are targeting K-12 students (Std. 12 students) and are making them habitual of their respective platforms from Secondary level only, and they can even easily upsale their services to their readymade users, whereas the target market of Unacademy is graduated or those who are looking for competitive exams, which is a very narrow targeted market size.
Even, Unacademy is also stepping into K-12 segment slowly
The story of Unacademy is truly amazing and seems like a filmy story!
Yet being in the competitive niche of Education; where big players like BYJU’S and Vedantu are well established, the rise of Unacademy is literally all about understanding the needs of the market and proper execution.
Unacademy has a long way to go, and we wish the management and whole team a successful way ahead.
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