The exit makes K-12 a two-horse race and raises an important question—if Unacademy, with all its might, can’t build a sustainable business in the segment, who can?
The K-12 segment—edtech terminology for kindergarten through the 12th grade—has claimed its latest victim. And it is a big one. Unacademy, India’s second-largest edtech company with a valuation of $3.4 billion, is shutting down its K-12 business with immediate effect, according to three people in the know.
“They stopped new sales in the K-12 segment from 1 March. Organic sales will continue for 90 days, starting 1 March and then they will shut down completely,” says one person, requesting anonymity. “All the people in the segment are being moved to different verticals.”
A second person confirms this. “Just six months …
Pradip is a co-founder at The Morning Context and leads our newsletters vertical. He has previously worked at The Ken as a staff writer, at Mint as an assistant features editor and the Deccan Chronicle as a copy editor. He works with a slew of expert newsletter writers across subjects and domains. His own writing spans the gig economy, farmers caught in the crossfire of technology, global warming and parents trapped in the edtech wave. Some of his best stories have come at the intersection of technology and human endeavour.