Fb-backed edtech unicorn Unacademy’s acquisition spree continues with TapChief buy

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Unacademy has purchased a majority stake in TapChief, which allowed companies and professionals to attach with specialists on-demand, offering exit to all current buyers. (Representational picture: IE)

The edtech phase is about to turn into fiercer forward as SoftBank and Fb-backed India’s second Most worthy edtech unicorn Unacademy continues to give attention to driving progress inorganically. The corporate, which has been on an acquisition spree since final yr with 5 buyouts in 2020, introduced its newest deal on Tuesday. Unacademy has now acquired skilled networking platform TapChief at a valuation of Rs 100 crore. As soon as a YouTube channel, Unacademy was integrated as an organization in 2015 and had made its first acquisition — on-line research platform for presidency exams – WiFiStudy in 2018. The corporate had turned unicorn in September final yr with a $150-million funding led by SoftBank amid Covid-induced progress within the edtech market and at present competes with Byju’s, Toppr, Vedantu, and so on.

Unacademy has purchased a majority stake in TapChief, which allowed companies and professionals to attach with specialists on-demand, offering exit to all current buyers. The corporate had over 1.5 lakh professionals on its platform. “Our endeavour at Unacademy has at all times been to democratise schooling and make studying accessible and inexpensive for everybody. TapChief shares an analogous ethos in a distinct area, as evident from the open group of pros and learners they’ve created,” Gaurav Munjal, Co-Founder and CEO, Unacademy Group stated in a press release. 4-year-old TapChief catered to greater than 150 enterprise prospects throughout sectors resembling schooling, FMCG, e-commerce, enterprise SaaS, and so on. The corporate was launched by BITS Pilani Alumni, Shashank Murali, Binay Krishna, and Arjun Krishna.

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Unacademy had acquired Kreatyrx in March 2020 that supplied merchandise together with on-line take a look at sequence, video programs, postal programs, and training courses for GATE and SSC CGL aspirants. In June, it purchased serial entrepreneur and billionaire Bhavin Turakhia’s CodeChef for programmers to study aggressive programming. Unacademy additional acquired PrepLadder – a web based platform for medical entrance examination preparation for $50 million and later it purchased UPSC CSE prep platform Coursavy in September. It had additionally acquired take a look at prep startup NeoStencil for an undisclosed quantity in December. Unacademy claimed having a community of over 49,000 registered ‘educators’ and over 40 million learners and was backed by Tiger International, Dragoneer Funding Group, Basic Atlantic, Sequoia India, SAIF Companions, Nexus Enterprise Companions, Steadview Capital, and Blume Ventures as effectively prior to now. The most recent deal by Unacademy got here amid media experiences of Byju’s seeking to purchase Toppr for as much as $150 million.

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