Unacademy Regrade Game

Hello reader,

Let’s start with some good news today. India has administered over 200 crore doses of COVID-19 vaccine in 18 months. Data from the Ministry of Health reveals that 98% of the country’s adult population have received at least one dose while 90% are fully vaccinated. Kudos to us!

Meanwhile, Elon Musk continues to dominate the news cycle. Business Intern reported that the Tesla CEO texted Twitter CEO Parag Agrawal and Twitter CFO Ned Segal on June 28, saying the company’s lawyers were trying to “cause trouble” by seeking information on how Musk planned to fund the social media giant’s $44 billion acquisition.

Last but not least, GST rates on certain items will go up starting today, meaning things will be more expensive. The list includes household items, hospitals, hotels, banking, and more.

To paraphrase Garfield, it’s time to put on your Monday face.

Unacademy Regrade Game

It’s the summer of layoffs in India’s startup ecosystem, with 12,000 jobs lost this year, according to Crunchbase. Edtech startups are feeling the most heat, with Unacademy CEO Gaurav Munjal announcing pay cuts for founders and senior management, along with other cost-cutting measures.

With many people once again looking for jobs, the edtech unicorn is leveraging its Relevel talent and skills assessment platform to firmly position itself in the talent hiring market. Last month, Gaurav announced that the company was expected to surpass $12 million in annual recurring revenue.

Shashank Murali, CEO of Relevel by Unacademy, says Your story that the idea behind creating a separate job search platform was to provide transparency for applicants. The platform conducts free tests for candidates in 19 different categories and creates profiles for those who pass the threshold.

“The platform has provided more than Rs 50 crore jobs in annual CTC (cost to business) till mid-June 2022. About 80% of users who received job offers are more recent years, while the remaining 20% ​​work as professionals, who received a 94% pay raise on average,” Shashank says.

Key Relevel metrics:

  • Unacademy invested $20 million in October 2021 for scaling.
  • Has a user base of 28 lakh, with 3 lakh candidates signing up for benchmarks every month.
  • Provides a three-month course costing Rs 35,000 to those who fail to pass the threshold.

Unacademy’s foray beyond test prep

Arunachal Pradesh kiwi wine

The Ziro Valley in Arunachal Pradesh is not only home to the famous music festival of its namesake, but also has the perfect climatic conditions to grow fruits like kiwi.

Tagus Rita realized that fruits grown in the valley can also be used to make wine. After devoting nearly six years to research and development, she launched Naara Aaba in 2016 to offer a range of kiwi-based wines.

Today, she not only runs a successful business, she also provides jobs for school and university dropouts in the garden and cellar, and trains them in different skills.

“Through our continuous efforts to shine a light on the plight of farmers and their products around the world, we have been able to attract the attention of the government and different agencies, which benefits them immensely,” she says.

Road to entrepreneurship:

  • Started Naara Aaba with a bank loan of Rs 4 crore and her own savings.
  • Received the Nari Shakti Puraskar on International Women’s Day for promoting female entrepreneurship.
  • Organizes wine tasting sessions for domestic and international visitors to spread the word.

RIYA Perfume Turnaround

The 1999 super cyclone not only devastated many lives in Odisha but also affected businesses. The manufacturing plant of RIYA, a brand that made talcum powder, was completely destroyed. But its founders, NK Daga and LK Soni, have not lost hope.

They moved to Delhi, reinvented their business model and started selling perfumes. Now, RIYA is a Rs 80 crore turnover brand.

“This storm was a nightmare, and after that they (NK and LK) were very cautious. But we overcame the adversity and launched various benchmarks in the fragrance category,” says Aditya Vikram Daga, second generation entrepreneur and son of NK Daga.

The 26-year-old entrepreneur restructured RIYA into Purpos Planet to diversify the brand’s reach in urban and metropolitan cities, and aspires to capture 20% market share by 2025.

Feel success:

  • Initially focused on perfume business only, making a turnover of Rs 5 crore before manufacturing.
  • Sells over 120 SKUs through 1,800 distributors.
  • Aims to touch revenue of Rs 240 crore by 2025 through diversification.

Get the daily capsule delivered to your inbox now. Subscribe to our newsletter today!

Comments are closed.