Edtech platform Unacademy has launched an ‘Experience Store’ in New Delhi with plans to go public in two years. The amount invested in the stores has not been told by the company yet.
Gaurav Munjal stated that the company is planning to open three more stores in Jaipur, Lucknow and Kota and the company is on track to achieve profitability in its core business and is looking to go for an Initial Public Offering (IPO) in the next two years.
“We definitely want to do an IPO and, in the next 12 months, we are eyeing profitability in our core business, which is the test preparation platform, and we are on track to achieve it,” said Munjal Co-founder and chief executive at Unacademy.
Unacademy Stores will have a range of facilities for learners including an in-house library that is equipped with relevant reading resources to help learners study in their chosen fields; There will be a classroom where the company plans to conduct sessions for all the learners with different categories of teachers.
The store will have a merchandise wall with merchandise available for purchase of apparel, stationery, etc. and select Unacademy stores will also have a functional cafeteria, which will allow learners to plan extended schedules at the store.
In February, Byju’s said it would launch around 500 offline tutoring centers in India by investing $200 million. According to a report, Byju’s-owned Aakash Educational Services is also planning to open 75 new centers across India this year.