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Friday, June 14, 2024

Unacademy co-founder Hemesh Singh transitions to advisory role as he steps down

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In Short:

Unacademy co-founder Hemesh Singh has stepped down as the chief technology officer and will take on an advisory role. Founded in 2015, Unacademy connects educators and learners for skill improvement through various courses. The company earns money through subscriptions. Singh expressed gratitude for his time at Unacademy and acknowledged the impact they made in the Test Prep Industry. Despite top-level exits, the company continues to grow, with operating revenue reaching ₹907 crore in FY23.

Hemesh Singh Steps Down as CTO of Unacademy

Big news in the world of education today as Unacademy’s co-founder, Hemesh Singh, has decided to step down from his role as Chief Technology Officer. But don’t worry, he’s not leaving the company entirely – he’ll still be around in an advisory capacity.

A Journey of Growth and Change

Unacademy, founded in 2015 by Gaurav Munjal, Hemesh Singh, and Roman Saini, has been revolutionizing the way educators and learners connect for skill enhancement through a wide range of courses. Their revenue comes from subscriptions for both online and offline learning platforms.

In a heartfelt post on X, Singh shared, “After almost a decade of building Unacademy with @gauravmunjal and @romansaini, I have decided to move from an Executive Role to an Advisory Role. It has been a wonderful ride and I am extremely grateful to have been a part of this journey.”

Changes in Leadership

The SoftBank-backed edtech unicorn has made changes to the voting rights structure for Munjal and Singh, allowing them additional voting rights through bonus shares issued in 2022. Reports suggest that a committee needs to be formed by March 2025 to work on the company’s initial public offering for Munjal and Singh to access these additional rights.

A Shift in the Company’s Landscape

Unacademy has recently seen some high-level departures including COO Vivek Sinha and CFO Subramanian Ramachandran. However, they have been quick to fill these gaps by bringing in new talent. Just last month, Pratik Dalal was appointed as the CFO of the offline division.

Impressive Growth for Unacademy

Despite the changes in leadership, Unacademy’s operating revenue has shown significant growth, reaching ₹907 crores in FY23 from ₹719 crores in FY22. The company continues to make strides in the edtech industry, offering quality educational content to learners around the world.

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