upGrad Acquires Unacademy for $206 Million in All-Stock Deal
· Business · TechCrunch, India Today
The edtech company upGrad has acquired rival startup Unacademy in an all-stock transaction valued at approximately $206 million. This valuation represents a 94% decline from the Bengaluru-based firm's peak valuation of $3.44 billion reached in 2021. Unacademy co-founder Gaurav Munjal confirmed the deal has closed, noting that angel investors were cashed out at the time of the transaction. While Unacademy had achieved near-profitability, leadership determined that scaling further required integration with a partner like upGrad, which maintains a stronger presence in offline education. The future of Unacademy's language-learning app, Airlearn, remains under review for the next six months.
Why it matters
The deal marks a significant consolidation in the Indian edtech sector, reflecting the sharp valuation correction for startups that expanded rapidly during the pandemic.
Read the original report — TechCrunch
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.