Yes indeed!
You see world is a cruel place.

Your brand positioning tends to reflect your collective contributions, standings in the market and pretty much other variables that altogether ranks you higher or relatively lower in the chain.

Valuations are one such huge parameters based on which startups (or companies?) are ranked and praised with a higher authority irrespective of it’s other attributes, because hey!
At the end of the day, it’s the cash in the bank that everyone’s care about!

And not just Byjus, take for example WeWork. Amidst all the chaos the board’s running through, they are still worlds’ most premium and recommended co-working space!
Uber sucks! Yet ranks above ola by all the means!

I love Byju's sales team. They are quite about them feels.

Depends who you speak with, people will value certain metric in a specific way that makes sense for their use case.

Eg. Total number of MAU might be 100000 but about 60% of your user base. But take Byju's it me just 10% of user base but their paying customer might be 5000000 so then thier market cap might be wau higher and more valuable interm of ROI for an investor.

Not necessary at all that high valuation means higher MAUs!

to be very honest, at this stage there is a high demand for skill oriented training programs/courses as the end result is to find a suitable job where unacademy has things going good for them in terms of active users, byjus on the other hand comes in as a value addition for the kids and those preparing for entrance exam and they should have their users pick up as things get back to normal for byjus decision makers are mostly parents while unacademy the story is quite different. Would be happy to answer if there is anything specific as well.

2 things -
1. The MAU was a post-pandemic number and this valuation is a pre-pandemic number. It's been more than 2 quarters. The valuation numbers (if calculated) would change for many growth stage startups.

2. The ticket size and the CAC of BYJU's is much higher than Unacademy. Hence the difference in valuations is not surprising.

In one of the talk on your story Gaurav Munjal, founder of unacademy, said that 'they have already crossed $80M ARR for this year and due to covid-19 their milestones are already achieved.'


Based on this revenue, I think when Unacademy will raise the fund again it will be either $1B or $2B valuation company.