EdTech Brand Unstop’s Phenomenal Growth After Shark Tank India

Unstop

Three points you will get to know in this article:

  • Unstop connects talents with 1.5K+ opps, backed by 6.5M users and brands like Amazon.
  • Ankit wanted 1 Crore for 1% equity. Amit offered 5 Crore for 10%, but Ankit declined.
  • After various offers, four sharks proposed INR 2 Crore for 4% equity, which Ankit accepted.

Shark Tank India Featured Unstop

Unstop logo

Unstop, previously known as Dare2Compete, is an innovative startup that links talented people with suitable employers. It aims to help students develop the skills and experience they need to thrive in their careers. The platform has built a community of over 6.5 million students, fresh graduates, and young professionals, with more than 200 companies using Unstop for their hiring processes. Prominent brands like Amazon, Flipkart, HUL, Reliance, Tata, Mahindra, Uber, Accenture, Infosys, EY, PwC, and many others rely on Unstop to recruit early talent. These organizations engage directly with students and young professionals on the Unstop platform, utilizing its capabilities to assemble their ideal teams.

Click here to visit their official website: Unstop

Unstop offers a distinctive online space where organizers can post various opportunities, including competitions, quizzes, hackathons, internships, workshops, scholarships, and more. Additionally, the platform features over 80 courses designed by internationally recognized industry experts to help students prepare for their ideal jobs. Participants can take part in more than 1,500 live opportunities to demonstrate their skills, with chances to win prizes and secure job offers. During their pitch on Season 2, Episode 26, they aimed for INR 1 Crore in exchange for a 1% equity stake, placing their company’s valuation at INR 100 Crores.

Shark Tank Negotiations

Ankit was eager to get all the sharks to invest in his venture. He complimented each shark, highlighting what he expected from them. Initially, Unstop received a significant offer of INR 5 crore from Amit Jain, the co-founder and CEO of CarDekho Group, in exchange for 10% equity. However, the founder of Unstop, Ankit Aggarwal, turned down this offer because he wanted to avoid giving away too much equity and having too many investors on the cap table.

Veenta was the first shark to exit the negotiations citing a conflict of interest. Meanwhile, Aman and Namita proposed an offer of INR 60 lakhs for 1% equity along with INR 40 lakhs as debt. Anupam and Amit then made a counteroffer of 5% equity for INR 2.5 crore. Ultimately, four of the sharks collaborated and presented Ankit with a deal of INR 2 crore for 4% equity, which he decided to accept.

Unstop After Shark Tank

During the Shark Tank episode, it was noted that Unstop had 5 million active users and recorded sales of INR 16 crore in the 2021-2022 period. By the first half of 2022-2023, they had already exceeded INR 12.5 crore in sales and are aiming to finish the year with total sales between INR 30 and 35 crores. For the 2021-2022 timeframe, Unstop achieved an impressive 90% gross margin and a 30% EBITDA. They charge companies between INR 100 and INR 150 for each participant, while candidates can take part in the hiring process at no charge.

According to a recent article in ZeeBiz, Unstop successfully raised $5 million in its first round of institutional funding, led by Mynavi, a Japan-based HRtech company. This funding will enable Unstop to enhance its platform and connect with more students and graduates seeking job opportunities.

Start typing and press Enter to search

Shopping Cart