UpGrad Completes $200 Million Acquisition of Unacademy
· Business · Economic Times, Moneycontrol
UpGrad has finalized its acquisition of Unacademy in a 100% share-swap transaction valued at just over $200 million. This deal represents a valuation drop of more than 90% from Unacademy's 2021 peak of $3.4 billion. Unacademy co-founder Gaurav Munjal will remain as CEO, and the company reportedly holds Rs 900 crore in cash with a topline of Rs 400 crore. The competition regulator cleared the merger on July 7, following negotiations that were initially called off in January due to valuation disagreements.
Why it matters
This acquisition marks a significant consolidation in India's edtech sector, reflecting a major valuation correction for once-high-flying startups.
Read the original report — Economic Times
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