While majority of businesses take a hit, there are a few industries like EdTech, telemedicine and Online grocery stores that have grown during this government-imposed lockdown. Unacademy, one of the biggest EdTech startups in the country has seen massive growth not only in reach but in revenue as well in the month of April. Gaurav Munjal, CEO and Co-founder of Unacademy tweeted that the revenue for April, 2020 is greater than 2017, 2018 and first half of 2019 combined.
The world has taken to the online platforms since there is less that can be done offline without mobility. With 165 million views, 1.4 billion minutes of watch time, 120,000 live classes and 264,000 tests Unacademy is skyrocketing the numbers right now. There has been an 82% rise in the revenue which the startup claims is 10X higher compared to the same time last year. In an interview earlier this year, Gaurav told that he plans to take the number of subscribers to a million from current 90,000 in next two years.
The recorded 165 million views are the highest ever for the company since its beginning. The total watch time is calculated over mediums like YouTube, special classes free as well as subscription based. The startup has raised around $200 million in last 5 years and has some of the big names like Facebook, Sequoia, Nexus Venture Partners and General Atlantic as its investors. Unacademy has been competing with others in the industry like Vedantu, Toppr.com and Byju’s.