Unacademy Business Model - How It Makes Money

In addition to revolutionising the Ed-Tech sector, Unacademy offers educators and enthusiastic learners an online platform. In India, Unacademy is one of the biggest learning platforms. The success of Unacademy, which achieves remarkable heights in the Ed Tech sector, inspires them to perform better for its students. At the moment, it provides free education to Indian students from the top instructors in the country.

About Unacademy
Business Model of Unacademy
How Unacademy Makes Money?
SWOT Analysis

About Unacademy

Unacademy was founded by Gaurav Munjal, Hemesh Singh, and Roman Saini. Their goal was to create a technology that would enable more individuals to receive high-quality education. Gaurav Munjal was a computer science student once.

In order to provide training lessons, he created Unacademy on YouTube in 2010. Hemesh Singh was very interested in technology, and Roman Saini, a former doctor, is now a teacher.

They later worked with Munjal to transform the channel into a complete edtech platform. Their expertise and passion for teaching have been crucial to Unacademy’s development. Professionals and students can learn online using Unacademy. It offers a large selection of courses and learning resources. It can be used to participate in interactive lectures and live sessions. It provides educational resources on a wide range of subjects as well as numerous competitive tests. Promoting broad access to education helps Unacademy achieve its mission of bolstering democracy.

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Business Model of Unacademy

Unacademy has expanded quickly since its founding. The site has seen exponential growth in its user base. It is enrolling millions of individuals in its classes. Its numerous courses, the interesting methods it aids in learning, and the presence of renowned instructors are the reasons for this expansion.

Unacademy operates on a freemium basis. To put it simply, Unacademy charges a subscription fee for its premium material while providing some of its fundamental services for free. While the live, interactive events with leading experts are paid, the pre-recorded classes are free.

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How Unacademy Makes Money?

While the basic content is free, Unacademy offers additional premium features and benefits through subscription plans.

Earning through a subscription model

  To access its premium features, which include access to the most recent and updated Exclusive Content, live doubt-clearing sessions, mock exams, and individualised advice, students can choose to pay for memberships.

Earning through Exam Preparation and Test Series

For a variety of competitive exams, including UPSC, SSC, Banking, Railways, and others, Unacademy provides specialised courses and test series. The targeted preparation that these exam-specific courses offer is often available at an additional cost to students who are aspiring to take these exams.

Earning through Corporate Partnerships

Unacademy collaborates with schools, universities, and other educational establishments to offer online certification programmes and courses. These partnerships increase the legitimacy of Unacademy's courses and broaden their audience reach.

Earning through Placements

This is Unacademy's most recent feature. "Relevel" is the name of Unacademy's placement platform. It is specifically made to link employers and job seekers. In other words, students can find their desired employment within 15 days after applying. Additionally, they will have access to courses tailored to their ideal career! Relevel claims to have over 2.35 lakh users and a 100% placement rate. To provide this service, the business charges a price.

USP of Unacademy

During FY22, Unacademy made INR 844 crore. This mammoth revenue is generated primarily through the selling of services, educational materials, and other kinds of income.

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SWOT Analysis

Strengths

• India's largest educational platform.
• Democratising education by providing access to excellent teachers.
• There are several different tests accessible.
• Over 10 crore students rely on the brand to help them prepare.
• There are more than 200 tests to prepare for.
• Live classes every day.

Weakness

• Insufficient details regarding particular classes or topics.
• No reference to past students' testimonies or success rates.
• Little communication with teachers in real-time sessions.

Opportunity

• Establish a feedback mechanism to collect student evaluations and enhance the calibre of the course.
• Work together with professionals in the field to offer case studies and practical ideas.

Threats

• Severe Competition
• Byju's failure added more fuel to the fire and people are now very reluctant for online education.

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Conclusion

The core of Unacademy's business strategy is a combination of advertising, live classes, subscription options, and instructional resources. Its revenue streams are further diversified by its strategic alliances and the introduction of platforms like Relevel and Graphy. Despite beginning as a free learning platform, Unacademy has effectively made money off of its services to establish itself as a significant force in the edtech industry, especially in the cutthroat exam preparation sector.

FAQ

How does Unacademy make money?

Unacademy makes money through subscription fees, live classes, advertisements, and partnerships with educational institutions.

Is Unacademy a B2B or B2C?

Unacademy is primarily B2C.

Who is CEO of Unacademy?

The CEO of Unacademy is Gaurav Munjal.