Unacademy co-founder and CEO Gaurav Munjal has said that they overestimated the potential of e-learning.
“I overestimated the potential of online… during Covid, I didn’t estimate the impact of offline. But a large section of people want online plus offline (mode of learning). And that was the miscalculation we did. The majority of the laid-off employees were in the online space,” Mujanl told TOI in an interview.
“We shut down many verticals. My approach has now changed; I do not want to do 10 things… I want to do a few things, but I want to do them right,” he added.
Munjal said that hybrid mode of learning is the future of edtech and that he plans to bet aggressively on the expansion of the firm’s offline centres.
“I don’t think an edtech company can become big in India without having an offline play. The online business has degrown but offline has massively bounced back. Last year, we had enrolled around 7,000 students in our offline centres and we plan to end this year with 35,000 students,” Munjal said, adding that “Kota, Delhi, and Indore have worked well for us. We will open centres in those places”.
