India’s Unacademy sells to rival upGrad for $206M, about 94% less than its peak valuation

Unacademy was acquired by rival upGrad in an all-stock deal valuing the Bengaluru-based edtech group at ₹19.55 billion ($206 million), roughly 94% below its 2021 peak of $3.44 billion. The transaction includes the Airlearn language-learning app, PrepLadder and Graphy, retains the Unacademy brand, and keeps CEO Gaurav Munjal in charge of online operations. Unacademy entered the deal with about ₹9 billion cash, annual revenue near ₹4 billion, and roughly 1,000 employees.