India, Jan. 14 -- After failed acquisitions talks with upGrad, Bengaluru-based edtech unicorn Unacademy plans to exit its offline business by converting company operated centres into franchise partnerships.

In an internal email accessed by Inc42, Unacademy group CEO Gaurav Munjal told employees that the franchise model would allow the startup to employ an asset-light, capital-efficient business. The transition is expected to be completed by April.

"The franchise model has already shown that it works: great local operators run operations, and we provide the academics, technology and reach. It is asset-light, capital-efficient, and aligned with who we are," the mail read.

Aligning with the startup's bid to shift to a more capital-efficie...