As books and blackboards get replaced by online tutorials and tests, the Education Technology (EdTech) era has emerged over the past decade. The volatile wave of online education has hit the demography of learners across all age-groups in the Indian nation. One such popular startup, EdTech company is Unacademy, an online learning platform developed to prepare students for competitive exams. Founder of Unacademy, Gaurav Munjal, started his journey from a YouTube channel and the rest is history.
Today, Unacademy is a unicorn in the ed-tech sector, but this doesn’t happen overnight. It takes the founder of Unacademy many years to reach here, from a curious kid of 12 years who built a KBC like quiz and then starting a YouTube channel in 2010 to the most successful ed-tech startup – It is a beautiful journey for Gaurav Munjal.
Early Life of the Founder Of Unacademy
From the desire to solve the problem, in the sixth standard, he told his parents that he wanted to be a Computer Engineer but his dad, who is a doctor, told him that “No, You will be a doctor,” but eventually his dad can see the passion of computer science and programming inside Gaurav.
In seven standards, Gaurav Munjal built the KBC like quiz program on QBasic and showed it to the whole class as it is a game where you get the point for answering right. And he loves this part, i.e., creating stuff. Now, whether it’s about creating a blog or a podcast or a YouTube channel, he was very much into these things during college and now as the founder of Unacademy but in a different manner.
So, we can say that it started with the spark to build stuff. And the founder of Unacademy, Gaurav Munjal, thinks he is doing exactly what he thought he would be doing at the age of 12.
On 31st of December 20010, Gaurav Munjal, a third-year engineering college student, decided to do something new as his new year resolution. He thought that “I will start something new, however big or small.” He recorded an educational video and uploaded it to his newly created YouTube channel. Unacademy first began as a channel on YouTube in 2010 by Gaurav Munjal which was the stepping stone for him towards his journey as the founder of Unacademy.
From Flat.to To Founder Of Unacademy
He used to get a 10% commission from a broker for every friend Gaurav referred to him in his college days. He soon created a small platform for students to help them find accommodation in Juhu and Andheri. After a couple of months, Gaurav met AakritVaish, who came to give a visitor talk at his college and promptly offered him funding. Gaurav didn’t accept it and choose to work in Directi.
After one year, Gaurav Munjal, founder of Unacademy, quit Directi and began Flat.to alongside Hemesh and Aakrit (who additionally put in the initial funding). After ten years, they chose to get acquired by CommonFloor on one condition: They will let them run freely.
Things turn upside down when Quickr acquired CommonFloor. So, and then somewhere around September 2015, he quit FlatChat. Also, he chose to give Unacademy full time and attention. At this point, Unacademy already had a million video views every month as Unacademy was a YouTube channel that he began in the college. And afterward, Roman Saini and Gaurav, the founder of Unacademy, began contributing video recording to that YouTube channel. And they chose to make Unacademy into a platform, which is currently a unicorn.
Dream of Turning Unacademy Into A Unicorn Before His 30th Birthday
Unacademy has acclaimed itself in test preparation classes by listing star educators who help attract ambitious students, including everything from UPSC and banking tests to programming languages.
In the traditional model of caching centers, students who gathered hundreds to a room and have to pay a large amount to learn from VIP educators, with no personal interaction. Unacademy generally charges $20 to $150 every month for test prep and offers classes to anybody with a smartphone.
The founder of Unacademy expressed that they presently have 30 million registered users and 350,000 paying users, about four times the number of as in February. The platform over 18,000 registered educators.
As schools and coachings shut during the pandemic, demand has taken off for the startup and several other virtual learning organizations in India. This turned the dream of the founder of Unacademy, Gaurav Munjal, into reality when Unacademy entered the unicorn club with SoftBank driving a $150 million financing round, making the total value of the organization at $1.45 billion as online learning floods during the Covid pandemic.
Investors in the $150 million funding incorporate existing supporters Facebook Inc. furthermore, Sequoia Capital, while SoftBank’s money is originating from Vision Fund 2, a replacement to its initial $100 billion funds. The startup’s valuation is significantly increasing from $510 million in February.