KGanesh, 25, is an IAS aspi-rant.Employedataprivatefirm, he mostly studies at

night or early morning. Whenlookingforguidance,a friendsug-gested Unacademy, a self-learn-ingplatformthatoffers freevideosby subject experts.

Theplatform,which startedonYouTube,helpsaspirantscrackdif-ferentcompetitiveexams.‘‘Wewantto be the YouTube for education,create courses in different lan-guagesandeventuallylookbeyondIndia,”saysGauravMunjal,founder&chiefexecutive.Manycoursesarein Hindi; a tutor offers economicslessons in Punjabi. The ed-techstart-uphascreatedaplatformthatcanrunevenonsecond-generationtelecomnetworks. It got $1millionin funding from Blume Ventures,Sachin Bansal, Binny Bansal andVijay Shekar Sharma, among oth-ers, in August. Earlier in April, itraised $500,000 from BlumeVentures. Munjal had co-foundedFlat.to, which was acquired byCommonFloor, and rebranded toFlatchat.

Sanjay Nath, co-founder andmanaging partner at Blume, saysUnacademy is like the Bill Gates-backed Khan Academy, whichoffers free videos. ‘‘It is an age ofYoutube and Twitter. Youth willuse it for everything, includingexam preparation. Unacademyoffers live, interesting content ofshort 10-15minutes duration,” heexplains. It started as an experi-ment, whenMunjal started post-ing tutorial videosonYouTube in2010.Unacademynowhasat least3,000videosand2.5millionview-ers on its platform andYouTube.

It says ithasgained tractionwith-out spending money. “We spendless than$30,000amonth (about~20 lakh),” saysMunjal.

Educators can upload videosonvarious topics on theplatformandstudentscanaccess these freeof cost. Thevideos are 15-20min-utesandtheplatformismostpop-ular with aspirants of the civilservice exams. It wants to get thebestminds to shareknowledge inaway that it is easy for anyone tounderstand, use and create.

OpportunityThewidermarket foreducation in

India is $10 billion, estimatesMunjal. These include the testpreparationmarket forexams likethe GRE, GMAT, CAT, JEE, IIMs,IITs. Nearly 40 million peopletake exams for government jobsevery year, a focus area for thisstart-up,andthemarket forwhichis estimated at $1 billion.

There are coaching centreswhichgross~500-600croreayearfor a single exam and there arecoaching centres for almost allexams. ‘‘Weareaself-learningplat-form,targetingstudentsincollegeswho are self-motivated to taketheseexams,”saysMunjal. ‘‘Weare

still figuring the segments, whiletargeting the top funnel.”

Munjalclaimshisstart-upisthemarket-leaderforthecivil servicesexam, with 30 of the IAS 100 top-pers coming back to share videosonitssite.TheseincludeTinaDabiand Artika Shukla of 2016. ‘‘Wehave content from top educatorsandbuiltabrand,”saysMunjal.Hesays YouTube and Facebook didnot focus on a specific segment.‘‘Like them, we want to be thebiggestvideoeducationcompany.”

BusinessmodelThestart-upwasincorporatedonly

inJanuary2016andisstill tryingtofigureout itsproduct-market fit. Ithas some ancillary revenue but isstill pondering its revenuemodel.Itpaysasmall sumtoitscontribu-tors and users who benefit fromthevideosalsopaysomegurudak-shina; the firm takes a cut, andpasses on the rest to contributors.

Unacademy has 1.2 millionpageviewsand0.4mnpeoplevis-it it every month; its monthlygrowthis30percent.Thetarget istogettoamilliondailyactiveusersby 2017. “The focus is on creatingtraction, value proposition andstickiness.Revenuesareimportantbut not at the expense of growth,”saysBlumeVentures’Nath.

It is likely to settle for a sub-scriptionmodellikeNetflix,whereusers will have to pay if theywantad-freevideos,downloadtheseandtakeassessmentsonhowwelltheyare doing. It will also personalise:Users can reach tutors to havedoubtsanswered. ‘‘Thefocusrightnow is to get more educators, tocreate great courses,” saysMunjal.

ChallengesThe key challenge is to maintainthe quality of the videos when it

crowd-sourceshundredsof these.Though it interviews, trains andfilters the tutor-contributors,ensuring the quality of each andevery video is a key challenge forthe nine-month start-up.

The second challenge is howto encourage more people tocome and create courses for aparticular domain, get experts,when it barely pays them~500/lesson.Thedriver for tutorsis an opportunity to create abrand name. Many have 50,000followers; some even put printads to promote themselvesoffline, claiming 50,000 follow-ers onUnacademy.

AheadThe first goal, asmentioned ear-lier, is to get a million dailyactive users, its product-marketfit (figure out the revenue mod-el) and start monetising. It willlaunch an app for tutors, whichthey can use to create a lessonusing their smartphone. The appallows an educator to integratepictures, pointer, handwrittenmaterials, link, sound and graphinto a single video and upload itin very easy steps. “Our aim is tomake the process so simple thateven my grandmother canbecome an educator on the plat-form,” adds Munjal.

Learning through videosFA C T B O XFoundedin: January2016, initiallyonYouTube

Areaofbusiness:Testpreparation

Founders:GauravMunjal,HemeshSingh,RomanSainiandSachinGupta

Funding:$1.5millionfromBlumeVenture,Sachin&BinnyBansal,VijaySekharSharma

Traction:0.4millionvisitors/month

Target:1millionactiveusers/dayby2017

Unacademy,aself-learningplatform,isgainingtraction.Ithastonowfigurehowtomonetise,reportAAPPUURRVVAAVVEENNKKAATT&RRAANNJJUUSSAARRKKAARR

There could be thousandsof good restaurantswhichgo unnoticed due to lackof effective marketing.Now, there is an app tohelpmarket theseeateriesand also provide deals fortheir customers.

Crownit isanoffline-to-online app-only mer-chant discovery andprivileges platform. Itlists local merchantsand attracts customersbyoffering themcurat-ed options for eating,as well as shopping,based on their inter-estswithcashbackben-efits — known as‘crowns’.Onemayavailof these ‘crowns’ forbillpayments, onlineshop-ping,movie tickets, etc.

Recently, the start-up raised undisclosedamounts fromFreeCharge foundersKunalShah and Sandeep Tandon, Freshdeskfounder Girish Mathrubootham, and for-mer Snapdeal chief product officer AnandChandrasekaran. Crownit had raisedSeries-A funding of $5.5million fromAccelpartners and Helion ventures in Maylast year.

Founded in 2014 by Sameer Grover andAshishMunjal, Crownit charges a commis-sion on the basis of business driven to itsmerchants, which varies from 10 to 30 percent. It also charges a commission from itsonline partners on the ‘crowns’ redeemed.

“We are replicating the success ofMeituan (China’s largest offline deals com-pany) in India and will continue to scaleusingproduct innovationwithout theneedof large capital,” says Sameer Grover, co-founder and chief executive officer ofCrownit.

The start-up says it has a user base of900,000 and 15,000 merchants. Flipkart,BookMyShow, and Amazon are some of itsonline partners.

Currently, it has presence in the nation-al capital region, Mumbai and Bengaluru,and it aims to be operational in Kolkata,Chennai,HyderabadandPunebynextyear.It iseyeing20millionusersandannualgrossmerchandise value of $1.2 billion across25 cities by 2019. ABHISHEK JEJANI

LAUNCH PAD

Cashbackapptodrivebusinesstorestaurants

Withanicheconcept,Unacademyhasalreadyhadgreattractioninthemarket inashortspan.Withimpressivemanagementandinvestorswhobringimmenseexpertise

acrosssectors, theyshouldbeinapositiontofocusonastrongrevenuemodelsoon,toscalerapidly.Apart fromtheglobalsuccessofKhanAcademy,wehavenotseenpurelearningmodelsbecomingsuccessful. It is

alsoimportanttotiethebusinesswiththegoalofprovidingresult-orientedtraining,byhelpinglearnerspassanentranceexam,earnadegreeorcertification.Byhavingafocusedend-result, learnersclearlyknowwhattheyaresigningupforandwillalsogiveUnacademymuchmorecredibilityandtrust inthemarket.GloballyMOOCs(MassiveOpenOnlineCourses)havebuiltanimpressiveuserbase.Whiletheyprovidefreecontent,mostoftheplayers

arestillstrugglingtobuildasustainablebusinessmodelandinsustainingthemotivationlevelsoflearnerstocompletecourses.Withtargetedlearninggoals,thesoonerUnacademyfocusesonbuildingastrongrevenuemodel,thebetterforitsgrowthandsustenance.

KrishnaKumar, founder&chief executive,Simplilearn,acompanythat trains individualsgetprofessionalcertification

E X P E RT TA K E

(Fromleft)Unacademy’s co-foundersHemeshSingh,GauravMunjal,RomanSaini andSachinGupta

SameerGrover,co-founderandCEO,Crownit

MUMBAI | MONDAY, 12 SEPTEMBER 2016 START-UP CORNER 15. <

e-Procurement Tender NoticeTender Reference No.-WRD/IRRIGATION DIVISION KUNDAHIT F2-04/16-17

Date :- 08.09.16

GOVERNMENT OF JHARKHANDOFFICE OFTHE EXECUTIVE ENGINEER

IRRIGATION DIVISION KUNDAHIT

Note:- Only e-Tenders will be accepted.Further details can be seen on website http://jharkhandtenders.gov.in

Executive Engineer,Irrigation Division KundahitPR 148111 (Water Resource) 16-17 (D)

14 Ù§ü çÎËËæè|12 çâÌ¢ÕÚU 2016 âæð×ßæÚU

(` in Crs. except as stated)

S. No. PARTICULARS

QUARTER ENDED

30.06.2016 30.06.2015

UNAUDITED UNAUDITED

1 Total Income from operations 3364.95 3308.14

2 Net Profit/ (Loss) for the period (before Tax, Exceptional and/or Extraordinary items)

(759.29) (729.57)

3 Net Profit/ (Loss) for the period before Tax (after Exceptional and/or Extraordinary items)

(759.29) (729.57)

4 Net Profit/ (Loss) for the period after tax (after Exceptional and/or Extraordinary items)

(656.21) (728.16)

5 Total Comprehensive Income for the period [Comprising Profit/ (Loss) for the Period (after tax) and Other Comprehensive Income (after tax)]

(657.90) (727.96)

6 Equity Share Capital 45.30 45.30

7 Earning per share (of `2/- each)

i) Basic (`) (28.97) (32.15)

ii) Diluted (`) (28.97) (32.15)

NOTE: 1 The above is an extract of the detailed format of Standalone Financial Results for Quarter ended June 30,2016, filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com and on the Company’s website www.bhushansteel.com.

NOTE: 2 The limited review for the quarter ended on 30th June,2016, as required under Regulation 33 of SEBI (Listing obligation & disclosure requirements) Regulation, 2015 has been carried out by the Statutory Auditors. The financial results relating to quarter ended 30th June, 2015 under Ind AS have not been subjected to limited review by the statutory auditors of the Company. However, the management has exercised due dillgence to ensure that the financial results provide true and fair view of the Company’s affairs.

NOTE: 3 Reconcilation of Profit/(Loss) between Ind-AS and Previous Indian GAAP (` in Crores )

Quarter ended

30.06.2015

Unaudited

S. No. Nature of Adjustments

Net Profit/(Loss) as per Previous Indian GAAP (738.96)

1 Financial Liabilities at Amortised cost using Effective Interest Method 8.71

2 Financial assets at Amortised cost using Effective Interest Method (0.60)

3 Accrual of Benefits under Package Scheme of Incentive-2007(Maharashtra) 5.38

4 Actuarial gains and losses (0.33)

5 Effect of Amortisation of lease hold land 0.04

6 Others (3.81)

7 Tax effect 1.41

Net Profit/(Loss) for the Period (A) (728.16)

8 Actuarial gains and losses 0.33

9 On account of Measuring Investments at Fair Value (0.02)

10 Tax effect (0.11)

Other Comprehensive Income/(Loss) (B) 0.20

Total Comprehensive Income/(Loss) (A+B) (727.96)

For and on behalf of the Board

Sd/-Place : New Delhi NEERAJ SINGALDated : 10th September, 2016 Vice Chairman Cum Managing Director

BHUSHAN STEEL LIMITEDRegd. Office : Bhushan Centre, Ground Floor, Hyatt Regency Complex,

Bhikaji Cama Place, New Delhi-110066Telephone: 91-11-71194000 Fax : 91-11-46518611

Website : www.bhushansteel.com Email: bsl@bhushansteel.com CIN : L74899DL1983PLC014942

EXTRACT OF STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2016

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