Unstop has raised INR 2 crores from shark tank season 2. Amit, Anupam, Aman, and Namita invested in this startup. Pitcher asked for ₹ 1 cr. For 1% equity of the company at the valuation of ₹ 100 crores.
At first, Amit offered 5 crores for 10% equity at a valuation of 50 crore rupees. Then Aman and Namita gave a counteroffer of 60 lakhs for 1% equity and 40 lakhs debt. Anupam’s counteroffer was 1 crore for 2% equity. Later, Amit and Anupam combined to counter 2.5 crores for 5% equity. And the deal was done with Amit, Anupam, Namita, and Aman combined to offer 2 crores for 4% equity in the company.
Also Read WOL3D has raised INR 80 lakhs from shark tank season 2. Aman invested in this startup. The pitcher made an ask for 1.5 crores for 1% equity in the company.
The CEO and founder of Unstop is Ankit Agarwal. Because of poor internet facilities, he failed several competitive examinations while pursuing his MBA. In the year 2017, he started his own company Dare2compete. Later, he rebranded his company in the month May 2022.
Unstop is an Early Talent Engagement & Hiring Platform with a growing community of 5 million Students, Freshers, and 0-5 years Working Professionals. It is a new category creator called Edu-HR-Tech with a penetration of 98% across all major campuses. Across the globe, it connects students across domains to a world of opportunities. Their app has features like Discover, Engage, Assess and Hire.
For the tests in Unstop, more than 5 lakh people have participated. They have 10000 colleges with over 40 lakh students registered in Unstop. They also have more than 200 registered companies which hire from Unstop. Unstop organizing coding and quizzes like KBC ensure the smooth hiring process of the students. Students have opportunities like: Browse additional options, 1500 + live opportunities, Participating in hackathons, quizzes, and hiring challenges, Registering and completing the rounds, and Winning prizes and job offers.
They have an average of 1 lakh daily users and 15 lakh monthly active users. The hiring success rate is 98%. The renewal rate is 93%. Per the company, the average revenue is 10 lakhs to 12 lakhs rupees.
Unstop Business Statistics:
In the year 2021-2022, the sales were 16 crores. Till now, the sales are 12 crores and will end up with 30 crore sales. The gross margin is 90%, and the EBITDA is 30%. They don’t charge to register with them. They charge companies for the number of students they are dealing with. Per student average price is 100 to 150 rupees.
What Problem Do They Solve?
Unstop enables students to showcase their talent, upskill and learn and gain CV points while getting rewarded and giving them a chance to get hired by their dream employers. This helps companies brand, assess, source, engage, and hire talented students through new-age hiring and engagement solutions. It aims to give all the elements students need in their academic and initial career journey, like Learn, practising, mentorship, competing and getting jobs.
Please visit WEXT.in regularly for more details regarding Shark Tank India Season 2 updates. If you find this piece interesting, please forward it to your friends and leave feedback in the comment section.