Unacademy, once one of India’s most valuable edtech startups, has been acquired by rival upGrad at a valuation of just over $200 million, about 94% less than its 2021 peak valuation.
The all-stock deal values Unacademy at ₹19.55 billion (about $206 million), upGrad’s co-founder and chairperson Ronnie Screwvala told TechCrunch. Unacademy shareholders are receiving upGrad shares as part of the transaction, while angel investors were cashed out at closing, Screwvala said.
Originally reported by TechCrunch. Read the full story at the original source.
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