Introduction
Unacademy is one of India’s largest online learning platforms. The business Model of Unacademy involves its business Plan, Revenue model, its competitors, SWOT Analysis and many more.
Unacademy has a wide range of services. Apart from education, multiple accusations have significantly increased the areas of services for the startup. Unacademy has more than 20 million students currently learning through the app, with almost 2.5K+ free live classes held every day. Anybody with a smartphone and a good internet connection can learn from anywhere in the country. Also, Unacademy is making its ever-possible move to reach the remotest parts of the nation.
Business Plan
Unacademy operates on B2B and B2C business models.
Relevel: This new platform is designed to help job seekers find their jobs within 15 days of application. Relevel claims of having more than 2.35 lakh users and boasts of a 100% placement rate. Frontend Development, Backend Development, and Business Development are the 3 tests that Relevel conducts for job seekers as of now. The platform successfully raised $20 mn from Unacademy on October 1, 2021. In terms of revenue, Relevel crossed $10 million in Annual Recurring Revenue (ARR) in June 2022.
Youtube: As it is not a hidden fact that before app, Unacademy started as an Youtube Channel. The only difference is that the company now runs different Youtube channels instead of one, under names like Unacademy JEE, Unacademy UPSC, and others.
In-app purchases – Unacademy also earns significantly through their in-app purchases. The company lists offers and discounts regularly on its app covering live classes, study materials, live mock tests, quizzes, other premium content, and more.
Learning Resources – Unacademy offers a wide range of learning resources for the students to go about their learning processes. These are mainly of two types:
- Pre-recorded videos
- LIVE sessions
Unacademy Store – Unacademy is looking to launch “Unacademy Stores”, which will stand as offline experience centers with an aim to develop its physical presence and spread its wings beyond test preparation.
Revenue Model
The revenue model of Unacademy is a type of Freemium Business model. A freemium business model offers a basic plan with few services and resources for absolutely free. At the same time, it offers an advanced plan with more exclusive features in exchange for a certain fee in the name of – The premium plan.
Paid subscription provides in-depth learning experiences backed with one on one doubt solving, high-quality video lectures, quizzes, PDF notes, and more.
Unacademy initially started as a YouTube channel providing free content. But now it has a structured YouTube channel for every competitive exam like UPSC, JEE, CAT, Railways, and more.
Unacademy uses a plethora of techniques through content marketing and digital marketing to attract its customers, i.e., a student or anyone who wants to learn. It uses social media marketing, email marketing, techniques of remarketing, and advertisements on and off different websites to generate leads and doesn’t stop until it has converted the potential customers into permanent customers.
In the next 2 years, Unacademy will launch its IPO, and all these cost adjustments are just for the proper launch of the IPO in the future.
Note: Moreover, the revenue model of Unacademy cannot fit the current trend as it is a company that has not made a single dollar in revenue since its inception and has continuously compounded its losses over the years.
Competitors
The Ed-Tech industry is on its boom, and new players are trying day and night to Establish themselves in the market. Here is the list of some of competitors:
- Bjyu
- Coursera
- Udemy
- Scaler
- Youtube
- Private Coaching Online classes
- TIME
- IMS
- Vedantu
- Bluprint Firefly
- TutorVista
Conclusion
Unacademy is an Edtech platform that has over 10,000 educators who prepare lessons and course materials for the students between Classes 6-12 as well as for the students who are appearing or planning to appear for competitive examinations.
Having the largest distribution of free educational videos, and more than 100 Million views every month, the company is working towards creating videos in multiple languages to facilitate students globally, include worthy content and test preparation modules for all possible competitive examinations, and affiliate with great minds to build powerful student network.
