Unacademy Co-founders Set to Exit, Shift Focus to New Venture AirLearn
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In a significant leadership shift at Indian edtech unicorn Unacademy, co-founders Gaurav Munjal and Roman Saini are reportedly stepping down to dedicate their efforts to a new venture, AirLearn, a language learning app. This move marks a rare instance of original co-founders exiting a major Indian edtech company.
Their departure follows that of the third co-founder, Hemesh Singh, who left in June 2023. Sumit Jain, co-founder of Unacademy's subsidiary Graphy, is expected to assume the leadership role. Jain joined Unacademy in 2020 after the acquisition of his startup Opentalk.
According to The Economic Times, Munjal and Saini are now focused on scaling AirLearn, which has already achieved an annual recurring revenue (ARR) of USD 400,000 in the US, just months after its launch.
Unacademy's board comprises representatives from SoftBank, General Atlantic, Bhavin Turakhia (Zeta), Sujeet Kumar (Udaan), along with Munjal and Saini. Data from TheKredible indicates the three original co-founders together held a 15% stake in the company.
The leadership transition signals a new era for Unacademy, which is aiming to sustain and grow amid evolving market conditions. Munjal recently noted that the company has significantly reduced its core business cash burn—from over INR 1,000 crore annually to under INR 200 crore. With INR 1,200 crore in reserves and profitable units like Graphy and PrepLadder, Unacademy remains financially stable.
The exit of its founding trio could usher in a fresh strategic direction for the edtech firm.
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Unlike stock markets, forex trading occurs 24 hours a day, five days a week, across major financial centers including London, New York, Tokyo, and Hong Kong. This 'follow-the-sun' structure allows for round-the-clock trading activity. Why Hong Kong? Hong Kong's unique position in the global financial ecosystem makes it an ideal environment for forex trading. Let's examine the critical factors: 1. Strategic Geographic Location Hong Kong operates in the GMT+8 timezone, making it a critical link between the closing of the U.S. session and the opening of the Asian markets. Traders in forex hong kong benefit from overlapping sessions that increase liquidity and trading opportunities. 2. Free Capital Flow Unlike mainland China, Hong Kong enjoys unrestricted capital movement, which is crucial for active forex traders. This openness allows investors to deposit, withdraw, and convert currencies without excessive regulatory friction. 3. Regulatory Integrity The Securities and Futures Commission (SFC) oversees financial markets in Hong Kong. Its strict but fair regulatory framework enhances the reputation of forex hong kong as a safe and reliable trading environment. 4. Institutional Presence Most major global banks, brokerage firms, and hedge funds operate from Hong Kong. Their presence increases liquidity, fosters competition, and provides retail traders access to institutional-level services. The Most Traded Currency Pairs in Hong Kong Traders in forex hong kong tend to focus on a mix of global majors and Asia-Pacific pairs. Some popular choices include: USD/HKD : Heavily monitored due to the Hong Kong dollar's peg to the U.S. dollar. : Heavily monitored due to the Hong Kong dollar's peg to the U.S. dollar. USD/CNH : Offers access to the offshore Chinese yuan. : Offers access to the offshore Chinese yuan. EUR/USD , GBP/USD , and USD/JPY : Widely traded with tight spreads. , , and : Widely traded with tight spreads. AUD/USD and NZD/USD: Favorable among traders watching Asia-Pacific economic indicators. Regulation and Safety for Traders The SFC enforces strict regulations to maintain the integrity of forex hong kong. All authorized forex brokers must: Be licensed under the Type 3 'leveraged foreign exchange trading' license. Maintain segregated client accounts to protect trader funds. Submit to regular audits and financial disclosures. Adhere to anti-money laundering (AML) policies. This regulatory oversight protects both retail and institutional traders from fraud, ensuring a level playing field. Best Forex Brokers in Hong Kong Several brokers, both local and international, operate in Hong Kong under SFC regulation. Some well-regarded names include: Saxo Markets – Known for deep liquidity and institutional-grade tools. – Known for deep liquidity and institutional-grade tools. IG Markets – Offers user-friendly platforms and reliable trade execution. – Offers user-friendly platforms and reliable trade execution. Interactive Brokers – A favorite among professional traders and high-frequency investors. – A favorite among professional traders and high-frequency investors. FXCM Asia – Tailored services for Hong Kong residents, including Chinese-language support. Always check the broker's license status on the SFC website before opening an account. How to Start Forex Trading in Hong Kong Getting started in forex hong kong doesn't require a massive investment, but it does demand education and risk awareness. Here's a step-by-step outline: Step 1: Learn the Basics Familiarize yourself with forex concepts like pips, leverage, margin, lot size, and spread. Many brokers offer free educational material and demo accounts. Step 2: Choose a Licensed Broker Pick a reputable broker regulated by the SFC. Consider fees, platform features, customer service, and ease of withdrawals. Step 3: Open a Live or Demo Account Start with a demo account to practice. Once confident, transition to a live account with small capital. Step 4: Develop a Trading Strategy Whether it's scalping, swing trading, or algorithmic trading, build a plan with clear entry/exit rules, risk limits, and position sizes. Step 5: Monitor the Market Use tools like economic calendars, price charts, and trading signals to stay informed and make strategic decisions. Challenges Facing Forex Traders in Hong Kong While the forex hong kong market is thriving, it's not without hurdles: 🔺 Volatility Global news, political events, or economic data releases can cause sudden market movements. Traders must always use stop-loss orders to mitigate risk. 🧾 Tax Considerations Forex profits may be considered personal income or capital gains. 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