In this blog we are going to talk about a very successful Business Model of Unacdemy.
so, basically Unacademy is a platform for Educators and Learners.
Educators come on the platform to create courses and reach out to the learners.
And Learners come on the platform to take high-quality courses from top educators.
Unacademy aims to build the world’s largest educational repository by empowering great Educators.
So, we are going to focusing on some learning important points like
- About Unacademy
- Idea generation
- Great Team
- Execution of that Idea
- Unique Selling Proposition
- Money Making Machine
- Future Plans
1. About Unacademy.
|Founded||2015; 5 years ago|
|Subsidiaries||Wifistudy, Prepladder, Kreatryx|
2. Idea generation.
So, in 2010 Mr. Gourav Munjal the CEO and the founder of the Unacademy,
He were in the collage and he perusing Engineering from Computer science at that time.
He always wanted to something different, so during there exams they posted a one normal video on YouTube.
So, this was his first step, now they started uploading videos on YouTube related to the education.
Now, after one month they got a lot of messages from all our the India. and he really got a very good response.
After sometimes he started one platform named “Flat–chat” with hemesh Singh.
So, flat–chat is basically realstate platform for bachelors and collage student.
They continuing uploading videos.Flat-chat was getting very good response.
3. Great Team
in the other side there other co-founder Roman Saini,
Roman saini was really a different guy. he creaked Aim exam just in the age of 16.
Yes, when he was just a 16 year old, he cleared Aim examination.
Now,after sometimes he again creaked UPSC examination.
Gaurav munjal and Roman Saini are best friends, they both are making videos on YouTube related to education.
Now after sometime Common-floor acquire Flat–chat.
So, finally they got exit point of this business and overall they earned around 50 lakhs as a profit from this startup.
Now, you know very well about The Indian education system for any government job or the courses like
Jee mans, Neet exam, UPSC, you have to clear there entrance exam.
And for that we don’t have a good conchie classes in every cities. right?
So, because of that not everyone have a opportunity to clear that exams.
Here, Gourav Munjal find a gap between this and they started working on it.
He never leave his passion and hobby, he combine them together and now he have a clear vision.
He convince Roman Saini, and Hemesh Singh basically they want to improve our education system.
Here roman saini also want to do something big or something different,
And he leave his IAS job on his own risk. You now that IAS job is really a most respectful job
But he leave that just because he wanted to achieve something different.
4. Execution of that Idea.
Now, they have an idea and they have clear mindset that they are focusing on education part.
And there main focus are on competitive examinations.
So, they finally decided to do starting with UPSC, because Rohit saini is master in that
And UPSC actually have a large market and their institutions are very expensive.
Roman saini continuously posting there videos on YouTube.
And because of that Unacademy become an India’s Biggest education channel.
On the other side Gaurav Munjal and Hemesh Singh start doing work on Unacademy’s website with the other members.
And finally in 2016 they launched there first website.
You know the best part about Unacademy is gourav and the other key people knows
very well about the team work and they know how to handle the people smartly.
That is the only reason behind there second business success.
There second grow very fast . Now, they have website with the very good amount of Traffic.
Now one think they are very clear about that they can grow in education field.
means education field is perfect for there business.
Now, the problem is, if someone wants free education about any particular course
Then there are a lots of free videos available on YouTube.
And for more success they have to come up with the very unique concept, right?
5. Unique Selling Proposition.
Okay now i am going to tell you how Anacademy built there Unique Selling Proposition,
How they make there every stockholder’s experience great.
So, lets start with the educator, so there basic concept is that any best faculty can join us
And Provide there best of knowledge to the students.
Now, you know that every teacher’s aim is to teach maximum numbers of students. right?
And they know very well, that on internet they can reach more numbers of students as compare to the offline institute.
And they build some unique tools by which any teacher can join very easily and they can teach.
They not made any software like which are very complected to use,
And teachers can’t reach easily. so they create a really easy and fast working software.
Lots of teachers are ready to join because they don’t need to go anywhere.
They can teach by there own home. so, they can teach comfortably.
Now, for motivating teachers they decided to pay them salary,
Instant of earning money as per there views on video.
Now, a lots of teachers are doing work from home with Anacademy very comfortable.
Now, every business have two parties right?
One is giver and another one is taker.
so, they are providing full satisfaction to there educator.
Now, come one the other part means on the student part.
so, what they did, they give free services to there student,
The second advantage of there students is, they can do there studies at home from the India’s best educators.
And the third advantage is they can do studies with any device like , phone, laptop, system or anything.
The fourth advantage is if you have any doubt in specific topic
Then you can learn from another teacher as well, means you have a lots of options available.
fifth advantage is you can learn in any languages,
because there are educators from the different parts of the countries.
And the last advantage is you can ask any questions to the teachers,
There are many quizzes, exams, and mocktests conducted by them for more pretties.
Now, there platform is on next level because they providing uniqueness and
because here teachers have there own advantages, students have a lots of advantages,
They continuously raise funding and success. in 2016 they raise $500k and 1 million dollars.
And they rise $4.5 million and $11.5 million dollars in 2017.
In 2018 they rise around 21 million dollar.
Now, the quest is how they earn this much of money? they are providing free contain then how?
6. Money Making Machine.
Let’s talk about there subscription platform ‘Unacademy pulse subscription’.
A lots of students are buying there subscription, they made a different points like
They provide there daily live classes where you can ask direct question,
There are a particular structured course made by there top educators, so they can cover each and every part,
There you can give live test and quizzes for more practice , and you can analyse that where you are lacking.
And the most interesting factor of there fast grow is, you can set you goal over there like
If you are doing preparation for cat then you can buy particular cat subscription,
And you can learn specific topic with the many educators.
And here you don’t have to pay a bulk amount, you can pay on monthly basis and
If you don’t like the services you can also cancelled it .
And there are more then 35 category of exams and they on the process in adding more exams.
That are the reasons behind there success and you know they earn more and more and more.
There earn profit in 019 around 22 crore and in February 2020 this revenue increased up-to 120 crore.
So, you can think that how strong there platform are and how they are earning profit every year.
there future plans are like they are working on to improve there videos quality.
Second is, for attracting more users they are coming with “legends on Unacademy”.
In which they are interact there users with some legends like Virat Kohli, Kiran bedi, Anushka sharma any many more.
And apart form this they are working on expanding there exams categories.
And they are also expanding there business on international level.
Like they are done in Indonesia. they are India’s best education best platform,
But they want to be a world best education platform.
Unacademy is one of the successful business model and they earn profit day by day.
You know they have 100,000 paid users in February 2020. and in April their views are 165 million.
And they done with 1,20,000 live classes on YouTube.
So, over all unacademy is earning on very high scale just because of there planning, there fetchers and services
And the moral we can take from this case study is never leave your idea, your passion and your hobby.
Don’t make a choice between your passion and your hobby, make an idea to do both together and achieve something unique.
One more thing here, a good team work of Gaurav Munjal, Roman,Hemesh Singh and there other employees are really great.
You have to know the team work management skills for the better success.
And the last thing is always try to do new experiments like Gourav munjal did.
If he not implement the idea of posted a video on YouTube, then he never get an idea about this huge business.
So always respect to your idea and implement them. and change your life.
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