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Physics Wallah

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Physics Wallah Private Limited
Physics Wallah
Company typePrivate
IndustryEducational technology
Founded2016; 8 years ago (2016) (as a YouTube channel)
2020; 4 years ago (2020) (as an ed-tech platform)
FoundersAlakh Pandey
HeadquartersA-13/5, Sector 62,
Noida
,
India
Number of locations
49 (March 2023)
Products
  • PW App
  • PW Vidyapeeth
  • PW Pathshala
Subsidiaries
  • FreeCo
  • Prep Online
  • Altis Vortex
  • iNeuron
  • Etoos India
  • PW Skills
  • PW MedEd
  • PW OnlyIAS
Websitepw.live

Physics Wallah Private Limited (also known as just Physics Wallah or PW) is an Indian educational technology company headquartered in Noida, Uttar Pradesh.[1][2] It was founded by Alakh Pandey and Prateek Maheshwari in 2020. It became a unicorn in June 2022 after raising $100 million at a valuation of $1.1 billion.[3]

History

Physics Wallah Private Limited, commonly known as "Physics Wallah" or "PW", was founded in 2016 as a YouTube Channel by Alakh Pandey,[4] an educator hailing from Allahabad, Uttar Pradesh. Along with co-founder Prateek Maheshwari, Pandey developed an app specifically designed for students aspiring to take the National Eligibility cum Entrance Test (NEET) and Joint Entrance Exam (JEE) in 2020. In addition, Physics Wallah launched courses for School Prep, JEE, NEET, GATE, SSC, UPSC, PSC, NDA, CA Foundation, CA Intermediate, CSIR NET, IIT JAM, MBA, NEET PG, and CUET.[5]

As of January 2023, the Physics Wallah app has been downloaded more than 10 million times. Recently, the company entered the unicorn club with $100 million in funding.[3]

Funding and financials

In June 2022, Physics Wallah became India's 101st unicorn company by raising $100 million in its maiden funding round led by WestBridge Capital and GSV Ventures.[6] During the same time, PW launched its first offline center named Vidyapeeth in Kota, Rajasthan. As of January 2023, Physics Wallah runs over 45 offline centers across 60 cities such as Delhi, Bhopal, Varanasi, Noida, Lucknow, Pune, Kolkata, Siliguri, Guwahati, Malda, Patna, Faridabad ,Ranchi and Srinagar[7]

Financials
Year Revenue (In crores) Profits/Loss (In crores)
FY 2021[8] Increase 24.6 Increase 6.92
FY 2022[8] Increase 233 Increase 98.23

Controversies

Allegations by former teachers

On March 21 2023, several prominent and established teachers at the ed-tech company alleged that their vision of the company is being disillusioned and in response started an independent YouTube channel by the name, 'Sankalp'.[9] They said that their resignation at PW was because of the atmosphere at the company and that at the Kota centre of PW, students were not getting the quality education worth their tuition fee.[10]

In response, a teacher of the company, Pankaj Sijairya, alleged in a video that the three ex-PW teachers – Tarun Kumar, Manish Dubey, and Sarvesh Dixit were offered INR 5 Cr each to resign from Physics Wallah and join the rival company, Adda247.[11] The three teachers, in a video claimed that Pankaj Sijairya falsely accused them of accepting bribes from rival platform Adda247.[12]

The company, in a statement to Business Today has addressed the controversy and called it a “distraction.”[13]

Acquisitions and expansions

In August 2022, Physics Wallah acquired FreeCo, a doubt solving platform and marked it as their first acquisition.[14][15][16] In October 2022, Prep Online and Altis Vortex both of which are focused on publishing books aimed at helping students prepare for various competitive exams were acquired.[17] In December 2022, Physics Wallah acquired iNeuron with 100% stake from S. Chand.[18]

A 6-episode web series named Physics Wallah on the life of Alakh Pandey and his company was released on 15 December 2022 on Amazon Mini TV. Alakh Pandey, the series' protagonist, was portrayed by Shreedhar Dubey. The series was created, directed and produced by Abhishek Dhandharia, under his production house, About Films.[19]

References

  1. ^ Gupta, Aryaman (7 December 2022). "PhysicsWallah, the unassuming underdog among ed-tech firms in India". Business Standard.
  2. ^ Majumdar, Debleena (22 November 2022). "What does it take to create Bharat's education lab: The story of PhysicsWallah, building on trust". The Economic Times.
  3. ^ a b Dilipkumar, Bhavya (7 June 2022). "Online learning platform Physics Wallah enters unicorn club with $100 million funding". The Economic Times. Retrieved 17 January 2023.
  4. ^ "The Unicorn Youtuber: Alakh Pandey". Entrepreneur. 11 July 2022.
  5. ^ "PW to revolutionize learning space for UPSC Aspirants launches UPSC Wallah". The Week. Retrieved 2023-04-08.
  6. ^ "Work, Force, Energy & PhysicsWallah: Meet 'Robinhood' Pandey, And His Freshly Minted Edtech Unicorn". Forbes India. Retrieved 2023-02-03.
  7. ^ "PhysicsWallah launches its first offline center in Kota". The Financial Express (India). 20 June 2022.
  8. ^ a b Ashrafi, Harsh Upadhyay & Md Salman (2022-11-10). "PhysicsWallah's profit nears Rs 100 Cr in FY22; revenue grows 9.5X". Entrackr. Retrieved 2023-03-30.
  9. ^ "All you need to know about Physics Wallah controversy as former teachers slam edtech giant in latest video". Free Press Journal. Retrieved 2023-03-29.
  10. ^ Kashyap, Hemant (2023-03-27). "Why PhysicsWallah's Star Teachers Are Falling Out Of Its Orbit". Inc42 Media. Retrieved 2023-03-29.
  11. ^ "WestBridge-backed edtech cos PhysicsWallah and Adda247 at loggerheads over aggressive poaching". Moneycontrol. Retrieved 2023-03-29.
  12. ^ "Amid Allegations They Were Paid Rs 5 cr As Bribe, Ex-Physics Wallah Teachers Seen Crying On Camera". IndiaTimes. 2023-03-27. Retrieved 2023-03-30.
  13. ^ "'We do not want distractions…': PhysicsWallah on former teachers' outburst row". Business Today. 2023-03-27. Retrieved 2023-03-29.
  14. ^ Roy, Shubhobrota Dev (18 August 2022). "PhysicsWallah marks first acquisition after becoming unicorn". VCCircle. Retrieved 27 February 2023.
  15. ^ "PhysicsWallah acquires edtech startup FreeCo in order to improve learning solutions | Startup Story". 18 August 2022. Retrieved 27 February 2023.
  16. ^ Thathoo, Chetan (17 August 2022). "PhysicsWallah Acquires Edtech Startup FreeCo To Enhance Learning Solutions". Inc42 Media. Retrieved 27 February 2023.
  17. ^ "PhysicsWallah makes acquisitions to foray into govt job prep, print books". Business Standard. Press Trust of India. 13 October 2022. Retrieved 14 February 2023.
  18. ^ Kaushal, Bhavya (22 December 2022). "Physicswallah acquires ed-tech start-up iNeuron for Rs 13.8 crore from S Chand". Business Today (India). Retrieved 17 January 2023.
  19. ^ Singh, Shubham (9 December 2022). "Amazon Mini TV unveils trailer of an upcoming show on unicorn Physics Wallah". Business Today (India).


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