Unacademy CEO Gaurav Munjal dismisses acquisition by Allen Institute rumours, Physics Wallah's Alakh Pandey responds

Unacademy Co-founder and CEO Gaurav Munjal recently addressed rumors surrounding the company’s potential acquisition, clarifying that the company is not pursuing any mergers or acquisitions. This came after reports surfaced suggesting the edtech giant was in advanced discussions to sell to Allen Career Institute for $800 million. Taking to LinkedIn on December 7’2024, Munjal swiftly dismissed these claims as "rumors".

However, it did not take long for Alakh Pandey, the Founder and CEO of Physics Wallah, to respond with a thoughtful and empathetic comment: “This sounds so good. I miss the old times of fierce competition. I am waiting for the same. It is only when we compete that students get more options. I wish you Luck.”

The post has garnered 2,249 reactions and 47 comments, reflecting significant engagement on the post. 

For those familiar with the journeys of these edtech giants, Alakh Pandey’s comment carries deeper significance. Having once earned just INR 5,000 a month, he rejected Unacademy’s INR 75 crore offer to join them. Instead, he chose to stay independent, committed to his vision of providing affordable and accessible education for all. This decision became a defining moment in Indian edtech, with Physics Wallah emerging as a unicorn and reshaping the sector.

Physics Wallah’s journey from a YouTube channel launched by Alakh Pandey in 2012 to becoming aunicorn by August 2022 is nothing short of remarkable. In 2024, the company’s valuation reached $2.8 billion after securing $210 million in funding in its Series B round, reflecting its consistent growth and market potential.

Meanwhile, Unacademy, once a leader in Indian edtech, is at a pivotal juncture. Reports suggest it is in advanced talks to merge with Allen Career Institute, a coaching giant known for engineering and medical entrance exams. If the deal materialises, Unacademy would be valued at around $800 million, a steep decline from its $3.4 billion valuation in 2021.