UpGrad to acquire Unacademy for Rs 2,055 crore, 90% below peak valuation

Upskilling platform UpGrad is set to acquire Unacademy in an all-stock deal after many months of negotiations, valuing the Bengaluru-based edtech at 2,055 crore ($218 million), said people with knowledge of the.

The deal will likely peg Unacademy, which started life as a Youtube tutorial channel, more than 90% lower than its peak valuation of $3.4 billion, ascribed to it during the 2021 funding boom.

Unacademy is expected to have 900-950 crore in cash on its books at closing, a key draw for UpGrad.