UpGrad Acquires Unacademy For $200 Million, Nearly 94% Below Its $3.44 Billion Peak Valuation
New Delhi: UpGrad has completed the acquisition of Unacademy for just over USD 200 million, about 94 per cent off its 2021 peak valuation, with co-founder and CEO Gaurav Munjal acknowledging the steep markdown in a post on LinkedIn. Munjal wrote that the company became a unicorn (a privately held firm valued at more than USD 1 billion) six years ago. Unacademy had raised capital at its peak…
On June 6th, UpGrad completed the acquisition of Unacademy for a price of over USD 200 million, a significant 94% decline from Unacademy's 2021 peak valuation of USD 3.44 billion. In a LinkedIn post, co-founder and CEO Gaurav Munjal expressed disappointment at the steep markdown, stating that the company had become a unicorn six years ago.
However, Unacademy had raised capital at its peak valuation but ultimately sold for a fraction of that amount. Munjal highlighted that Unacademy sought to democratize education and helped establish a model for online learning in India. The company's free platform played a pivotal role in creating a generation of prominent educators, with their YouTube videos collectively amassing over 10 billion views.
Munjal also praised Airlearn, which became one of the world's top three downloaded language-learning applications within two years of its launch. The acquisition was finalized after discussions with founder Ronnie Screwvala, who expressed confidence in the merger's ability to create significant value for Unacademy's shareholders and emphasized the company's commitment to India's education ecosystem.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
