PhysicsWallah is in talks with investors to secure 250 million dollars at a valuation of 3.3 billion dollars (Rs 27000 crore). The company was started by tuition-teacher-turned-YouTuber-turned-entrepreneur Alakh Pandey. A report said that the company has been seeking investment since the start of the year.
It will be done to increase the valuation of the company that is flush with funds. The company has no dearth of funds and is also profitable. In fact, it is the only ed-tech startup that is profitable.
Pandey's PhysicsWallah had clocked Rs 232.5 crore profit in FY 22. Its profit was a whopping Rs 100 crore. PhysicsWallah expected a revenue of Rs 1200 crore this year. The company is currently valued at more than Rs 8000 crore.
PhysicsWallah was founded in 2020 by Pandey and Prateek Maheshwari. They raised 100 million dollars at a valuation of 1.1 billion dollars.
In 2022-2023, Alakh Pandey is the ed-tech founder with the highest salary. In 2021, he received Rs 7.35 crore per year -- including Rs 75 lakh as salary and Rs 6.6 crore as professional fees.
In 2022-2023, he earned Rs 9.6 crore. He is the highest paid founder among 8 ed-tech companies.
Who is Alakh Pandey?
Alakh Pandey was a good student. He was studying in HBTI Kanpur when he quit his engineering course and launched his YouTube channel. After it became a hit, in 2020, he launched the company.
He is the CEO of PhysicsWallah. He married journalist Shivani Dubey this year. His first salary was Rs 5000 per month that he earned as a tution teacher.
His company is India's 101st company with a 1 billion valuation.
He was a topper in Class 10 and Class 12. He is from Allahabad. He left his course in the third year. He started his YouTube career in 2016.
His company has over 19000 employees.
