Edtech unicorns brace for slower FY24; bottom lines hit by aggressive advertising, huge ESOP costs in FY22

Unacademy, PhysicsWallah, Vedantu, Eruditus, and upGrad cumulatively spent more than Rs 2,250 crore on ads and promotions, and Rs 5,465 crore on employees but with funding winter and slower growth these excesses are becoming a thing of the past.

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