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The industry, while wanting to steer clear of the K-12 segment, is not ready to address the elephant in the room.
Co-founders Alakh Pandey and Prateek Maheshwari made Physics Wallah the company it is today by keeping their focus on the digital media, test-prep business. With fresh funds at its disposal after the IPO, it is making the mistake of believing it is an education company.
As the company weighs a move into test prep ahead of a 2027 IPO, the question is whether entering a category from which upGrad has consciously stayed away so far makes sense.
The UAE-based school operator is making a move into Saudi Arabia as it enters its biggest expansion phase yet.