Alakh Pandey, the cofounder and CEO of PhysicsWallah, one of India’s leading online education platforms, witnessed a steep decline in his remuneration in the financial year 2022-23. According to the company’s filings with the Ministry of Corporate Affairs (MCA), Pandey’s annual salary was INR 4.57 crore, which is more than 50% lower than his earnings of INR 9.6 crore in the previous fiscal year.

The reduction in Pandey’s remuneration comes at a time when PhysicsWallah is facing intense competition from other edtech players, such as Byju’s, Unacademy, Vedantu, and Toppr, who have been aggressively expanding their market share and user base. PhysicsWallah, which started as a YouTube channel by Pandey in 2017, has grown to become a popular destination for students preparing for engineering and medical entrance exams, as well as school board exams. The platform offers live classes, recorded lectures, test series, doubt-solving sessions, and study materials for various subjects, especially physics.

However, PhysicsWallah’s growth has slowed down in the past year, as the company reported a 91% decline in its net profit to INR 8.9 crore in FY23, from INR 98.2 crore in FY22. The company’s revenue also fell by 18% to INR 111.8 crore in FY23, from INR 136.6 crore in FY22. The company attributed the decline in its performance to the impact of the Covid-19 pandemic, which disrupted the academic calendar and reduced the demand for online education.

PhysicsWallah’s cofounder and CTO, Prateek Jain, also saw a decrease in his remuneration in FY23, as he received INR 4.56 crore, compared to INR 9.6 crore in FY22. However, the average founder annual salary in the edtech sector rose by 69.7% to INR 5.77 crore in FY23, from INR 3.4 crore in FY22, according to a report by Inc42 Plus. This indicates that PhysicsWallah’s founders have taken a pay cut to cope with the financial challenges faced by the company.

Despite the decline in its profitability and revenue, PhysicsWallah remains optimistic about its future prospects, as it continues to invest in product development, content creation, and user acquisition. The company claims to have over 10 million registered users and 1.5 million paid subscribers on its platform, as of December 2023². The company also raised INR 120 crore in a Series A funding round led by Sequoia Capital India in November 2023, valuing the company at over INR 1,000 crore.

PhysicsWallah’s cofounder and CEO, Alakh Pandey, is widely regarded as one of the most influential and inspiring educators in the country, with over 8.7 million subscribers on his YouTube channel. He is known for his passion for teaching and his ability to simplify complex concepts in physics. He has also been featured in several media outlets, such as Forbes India, Business Today, and The Economic Times, for his entrepreneurial journey and achievements.

PhysicsWallah is one of the few edtech startups in India that have achieved the unicorn status, i.e., a valuation of over $1 billion, within a short span of time. The company aims to become the largest online education platform in the country, catering to students from class 6 to 12, as well as those preparing for competitive exams. The company also plans to expand its offerings to other subjects, such as chemistry, biology, and mathematics, and to launch new products, such as PhysicsWallah Junior, PhysicsWallah Pro, and PhysicsWallah Live.

As PhysicsWallah strives to achieve its vision and mission, Alakh Pandey’s leadership and vision will be crucial in guiding the company through the dynamic and competitive landscape of the online education sector. With his dedication and expertise, Pandey hopes to make quality education accessible and affordable for millions of students across the country.

contact for removal and copyright or correction – copyright@bullishmaze.com