The educational technology business Unacademy was established in India in 2015 by Gaurav Munjal, Roman Saini, and Hemesh Singh. It is an online learning platform that gives students studying for numerous competitive exams interactive live classes, practice exams, and individualized advice. The company’s goal is to democratize education by ensuring that everyone, regardless of location or financial situation, has access to high-quality education. But what distinguishes Unacademy from its rivals? Let’s investigate.
First of all, Unacademy has a distinct business strategy. It follows an educator-first philosophy, enabling instructors to design and deliver their own courses on the platform. This strategy ensures that students have access to a wide variety of courses and instructional methods, as well as providing a platform for teachers to demonstrate their expertise. Because they receive a portion of the money made from their courses, the platform also gives teachers the chance to make a good living.
Second, Unacademy places a big emphasis on fostering community. Students and educators that use the platform communicate with one another through live courses, discussion forums, and social media. Students can learn from their peers in this community and can ask questions of professionals in order to get their questions answered. Additionally, it gives pupils a sense of drive and belonging, both of which are essential for their success.
Thirdly, Unacademy has top-notch technology. Personalized suggestions are given to students via the platform based on their academic performance and learning history. To make learning more interactive and engaging, it also provides tools like live polls, tests, and interactive whiteboards. Additionally, the platform is accessible to students from all backgrounds because to its availability on a variety of platforms, including laptops, tablets, and smartphones.
Let’s move on to the questions that are connected now. Unacademy is not the same platform as Udemy, and neither is Udemy a unicorn. A startup company valued at over $1 billion that is privately held is called a unicorn. Udemy is a publicly traded firm with a $4 billion market valuation at the moment.
By 2020, the enormous US edtech market is anticipated to reach $252 billion. The industry is fueled by trends like rising internet usage, rising interest in online education, and expanding use of e-learning in colleges and universities.
An Indian edtech startup called Byju’s provides online courses for students in schools. It has a worth of over $10 billion and is one of the major participants in the Indian edtech business. The company’s creative approach to education, which integrates technology with conventional teaching methods, can be credited with its success.
Unacademy is a game-changer in the education sector, to sum up. It differentiates itself from the competition by its educator-first strategy, community building, and technology. The platform’s growing user base, which includes millions of students and thousands of educators, is proof of its success. A great illustration of how technology can be utilized to democratize education and make it available to everyone is Unacademy.