Unacademy CEO Gaurav Munjal Denies Acquisition Rumors Amid Strong Financial Outlook

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Unacademy CEO Gaurav Munjal Dispels Acquisition Rumors Amid Strong Financial Health

Introduction

In a later turn of occasions, Unacademy CEO Gaurav Munjal has firmly denied twirling acquisition gossipy tidbits involving Allen Career Institute. Gaurav Munjal took to LinkedIn on December 7, 2024, to address the speculation, expressing, “We have many years of runway. We are building Unacademy for the long run. We are not doing any sales or M&A. Ignore the rumours.”

Rumours in Air

This explanation comes amid reports recommending that Unacademy was in progress talks to combine with Allen Career Institute for a stunning $800 million, a critical drop from its $3.4 billion valuation in 2021. Munjal highlighted Unacademy’s current money-related health, noticing that the company has $170 million in cash reserves and no obligation, giving it a budgetary runway exceeding four years.

Gaurav Munjal in action

I have said this before, I’ll say it again. This year will be Unacademy’s Best in terms of Growth in the Offline Business and Overall Unit Economics. We have many years of Runway. We are building Unacademy for the long run. We are not doing any Sale or M&A. Ignore the Rumours.
— Gaurav Munjal (@gauravmunjal) December 7, 2024

Gaurav Munjal moreover shared a “Year in Audit” post, exhibiting Unacademy’s accomplishments, counting a 30% development in its offline centres, a critical advancement in unit economics, and a 50% lessening in cash burn at the group level. He pointed out the development of subsidiaries like Graphy, which saw a 40% profitable expansion, and Airlearn, which accomplished an annual recurring revenue (ARR) of about $400,000 within the U.S. within months of its launch.

Alakh Pandey comment

The refusal did not go unnoticed by Alakh Pandey, the Founder and CEO of Physics Wallah, who reacted with a keen comment on Munjal’s post. “This sounds so good. I miss the old times of fierce competition. I am waiting for the same. It is only when we compete that students get more options. I wish you Luck,” Pandey commented. This comment carries noteworthy weight, considering Pandey’s history with Unacademy. He broadly declined an INR 75 crore offer from Unacademy to connect them, choosing instep to remain free and committed to his vision of giving reasonable and open education.

Pandey’s reaction has earned critical engagement on the post, reflecting the ongoing rivalry and mutual respect between the two edtech giants. Physics Wallah’s journey from a YouTube channel propelled by Pandey in 2012 to become a unicorn valued at $2.8 billion by 2024 is nothing short of remarkable.

Conclusion

As Unacademy proceeds to centre on extending its offline presence and refining unit economics, the edtech landscape remains energetic and competitive. Gaurav Munjal’s clear message is that Unacademy isn’t up for the deal, and its runway is far away from running out.

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