Unacademy fired 250 employees: These were working in marketing and sales, the company laid off more than 4000 people in 2 years

SoftBank backed edtech company Unacademy has fired around 250 employees. Out of these, around 100 employees were working for the company’s business development and marketing team. At the same time, around 150 people were from the sales department. Moneycontrol gave this information quoting sources. The company has taken this decision due to restructuring.

The company said in a statement, “We have done restructuring as part of our continuous effort to streamline the company’s operations and increase business efficiency. This was necessary keeping in mind the company’s goals and vision. It was also necessary for sustainable growth and profitability, due to which some roles have been affected.”

About 4000 employees laid off in two years
Unacademy has seen several rounds of layoffs in the last 2 years. According to sources, the number of employees of the company was more than 6000 in April 2022, which has now come down to 2000. About a month ago, the company’s co-founder and Chief Technology Officer Himesh Singh shifted himself from the executive role to the advisory role.

The company has a valuation of Rs 28,379 crore
Unacademy was founded in 2015 by Gaurav Munjal, Roman Saini and Hemesh Singh. It provides online preparation for competitive exams. The company has so far raised funding of $877 million (about Rs 7,318 crore).

The company last raised $440 million (about Rs 3,672 crore) from Temasek, General Atlantic and others in August 2021. Then its valuation was $3.4 billion (about Rs 28,379 crore).

Unacademy has more than 1.3 crore online users
According to a report of Statista dated 26 September 2023, Unacademy has more than 1.3 crore online users. Byju’s has the highest number of users at 15 crore. Apart from this, Vedantu has 3.5 crore users and Upgrade has 20 lakh users.