Abha Maheshwari Steps Down as CEO of Allen Digital
Abha Maheshwari, who previously held an executive position at Meta, has announced her departure as CEO of Allen Digital after serving in the role for two years. She has revealed her plans to take a brief break before embarking on her next venture.
Reflecting on her time with the company, she mentioned, “When I first joined, we were a small team of 15 to 20 working out of a WeWork, scrappy, ambitious, and committed to building something meaningful.” She continued, “Two years later, I leave behind a buzzing office filled with passionate people, bold ideas, and the same deep sense of purpose, now backed by a much larger and stronger team,” in a social media announcement regarding her exit.
Development of Allen Digital
In April 2022, Allen Career Institute established a fully owned subsidiary, Allen Digital, aiming to compete with India’s multi-billion-dollar edtech field. This strategic move followed closely after Allen secured $600 million (approximately Rs 4,500 crore) from Bodhi Tree Systems, the investment firm led by James Murdoch and former Disney Asia-Pacific chairman Uday Shankar.
During Maheshwari’s leadership, Allen Digital successfully acquired the AI-centric doubt-solving platform Doubtnut in a slump sale valued at around $10 million. Furthermore, reports indicated that Allen was exploring a potential acquisition of Unacademy at a discounted valuation of about $800 million in December 2024. Nonetheless, Gaurav Munjal, co-founder and CEO of Unacademy, publicly refuted this assertion.
Achievements Under Maheshwari’s Leadership
Throughout her tenure, Allen Digital has focused on developing a digital-first EdTech enterprise centred on learning outcomes. Maheshwari stated, “Together, we built a digital-first EdTech business anchored in learning outcomes. We launched transformative technology, scaled rapidly, and most importantly, made a real difference in the lives of students.” Emphasizing their goals, she added, “From AI-powered learning to seamless offline–online integration, every step was guided by our vision to make education more accessible, deliver real learning outcomes, and truly empower students.”
Financial Performance in FY24
For the financial year 2024, Allen Digital’s revenue witnessed a significant increase of 42% year-on-year, reaching Rs 3,244.7 crore, driven by robust offline enrolments alongside an expanding digital presence. However, the company experienced a profit decline of 44%, resulting in profits of Rs 136 crore during the same timeframe.