Unacademy opens tuition centres like BYJU’s as edtech space shrinks

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Bengaluru, May 18 | As online education space shrinks with India reopening amid the ‘hybrid normal’, learning platform Unacademy on Wednesday announced its foray into opening physical tuition centres across the country, following BYJU’s footsteps.

The Unacademy centres will facilitate the offline classes in the NEET UG, IT JEE and Foundation (9-12) course categories.

The first Unacademy centre will be operational in Kota by next month, followed by similar touchpoints in Jaipur, Bengaluru, Chandigarh, Ahmedabad, Patna, Pune and Delhi, the company said in a statement.

“With ‘Unacademy Centres’ we will bring the best of Unacademy — India’s top Educators, best-in-class technology and product, and state-of-the-art infrastructure — for our learners,” said Gaurav Munjal, Co-Founder and CEO, Unacademy Group.

The platform aims to enroll up to 15,000 learners in the first batch across centres.

Unacademy said it will soon conduct a national scholarship admission test for batch enrollments where rankers can win scholarships.

The move comes at a time when online education providers are looking to go offline as the edtech industry is struggling to sustain their business model.

After post-Covid tremors at Unacademy and BYJU’s-owned WhiteHat Jr, another edtech major Vedantu recently laid off nearly 200 employees.

Edtech platforms are seeing a significant dip in the demand for online learning and some of such firms have either shut shops or fired employees in recent days.

Unacademy recently laid off nearly 600 employees, contractual workers and educators — about 10 per cent of its 6,000-strong workforce across the group.

WhiteHat Jr has also shut its schools division that last year targeted to take its flagship coding curriculum to 10 lakh school students by the next academic year.

In a nightmare for nearly 1,000 employees, homegrown edtech startup Lido Learning which is backed by top entrepreneur Ronnie Screwvala, shut operations in February this year.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

Post Disclaimer by BhaskarLive.in

The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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