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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Amid layoffs, continuous churn and uncertainty in the edtech industry, Unacademy’s sole focus on offline could be Munjal’s last throw of the dice.
Editor's note: Shortly after Gaurav Munjal sent a memo to employees announcing a new round of layoffs at Unacademy on 7 November, co-founder and chief technology officer Hemesh Singh called a meeting of the tech team. The air inside the office was thick with anxiety and uncertainty. People were looking at each other with hope and guilt. Hope that it would be the others, not them, on the layoff list, and guilt for feeling that way. Singh needed to calm the nerves in his team if he wanted any work done. He told them that the layoffs will not impact the tech team. Tech, after all, is the backbone of the company. The job cuts, he said, would mostly impact the business team. Within 48 hours of that meeting with Singh, his team was informed that it would be downsized by about 25-30%, which meant about 50 people might lose their jobs. “Panic set in. People didn’t know what to do. Who to trust and who not to,” says a person in the know, requesting anonymity. “The founders were saying something and …
The country’s top VC funds are flush with new fundraises. They must now find opportunities to invest, but that’s easier said than done.
The Indian mother and baby products retailer has been slow to grow in the two largest markets of the Gulf. What gives?
For one of the world’s largest and shrewdest investors to entirely skip putting money in the country is a sign of how quickly the nature of the Indian startup ecosystem has changed.
