UpGrad backs out of Unacademy deal citing valuation and business concerns

Edtech firm UpGrad has called off its proposed acquisition of Unacademy at a valuation of around USD 290 million, citing valuation concerns and business-related challenges within the Temasek and SoftBank-backed startup, according to sources.

The valuation of Unacademy, which had peaked at USD 3.4 billion in 2021, has now dropped by over 90 per cent.