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    Home / News / Business News / Unacademy CEO dismisses rumors of $800M acquisition by Allen Institute
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    Unacademy CEO dismisses rumors of $800M acquisition by Allen Institute
    Unacademy was valued at $3.4 billion in 2021

    Unacademy CEO dismisses rumors of $800M acquisition by Allen Institute

    By Dwaipayan Roy
    Dec 09, 2024
    03:20 pm

    What's the story

    Unacademy co-founder and CEO Gaurav Munjal has publicly refuted rumors of a potential $800 million acquisition by Allen Career Institute.

    The speculation suggested that the edtech giant was in talks for a deal that would significantly undervalue its 2021 valuation of $3.4 billion.

    Munjal addressed these rumors on LinkedIn, labeling them as baseless.

    CEO's statement

    Munjal highlights Unacademy's growth and future plans

    In his LinkedIn post, Munjal wrote, "This year will be Unacademy's best in terms of growth in the offline business and overall unit economics. We have many years of runway. We are building Unacademy for the long run."

    He also clarified that the company is not looking at any sale or merger and acquisition (M and A) activity, asking people to ignore such rumors.

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    Company performance

    Financial health and subsidiary growth

    Munjal also emphasized Unacademy's financial health and growth in his post.

    He disclosed a 30% expansion in offline centers, a big improvement in unit economics, and a 50% cut in cash burn at the group level.

    With $170 million in cash reserves and no debt, the company reportedly has a financial runway of over four years.

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    Industry response

    Physics Wallah's CEO responds to Munjal's post

    Alakh Pandey, the founder and CEO of Physics Wallah, also reacted to Munjal's post.

    Pandey wrote, "This sounds so good. I miss the old times of fierce competition. I am waiting for the same."

    Notably, Pandey had rejected Unacademy's ₹75 crore acquisition offer to keep his company independent.

    Such a decision transformed Physics Wallah from a YouTube channel into a unicorn worth $2.8 billion by 2024.

    Done!
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