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Edtech firm Unacademy acquires PrepLadder for Rs 112 cr
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SME Times News Bureau | 07 Jul, 2020
Bengaluru-based edtech firm Unacademy on Tuesday announced to acquire
PrepLadder, a leading post-graduate medical entrance exam preparation
platform, for $50 million (approx Rs 112.3 crore).
Founded by
Deepanshu Goyal, Vitul Goyal and Sahil Goyal in 2016, PrepLadder
prepares students for medical examinations and provides access to
education services and preparation material for exams such as NEET PG,
AIIMS PG, NEET SS, and FMGE.
Currently, PrepLadder has expert educators teaching over 85,000 active subscribers.
According
to Unacademy, the acquisition will strengthen its presence in medical
entrance examination categories. Unacademy recently acquired Kreatryx
and taken over the custodianship of CodeChef.
"The exponential
growth in Unacademy's subscriber base is a testament to the increasing
demand for quality online education and our consistent efforts. I look
forward to working with the PrepLadder team as they become a part of the
Unacademy Group," said Gaurav Munjal, Co-Founder, and CEO, Unacademy.
The
acquisition comes on the heels of news reports that Think and Learn,
the parent company of Bengaluru-based edtech unicorn BYJU'S, is in talks
to acquire Mumbai-based startup WhiteHat Jr for Rs 300 million.
In the last three months, Unacademy has recorded a 100 per cent increase in its paid subscriber base.
The
monthly watch time minutes has also reached an all-time high of over 1
billion. Additionally, over 525,000 learners attempted various mock
tests on the platform for competitive examinations such as UPSC,
NEET-PG, and CAT, among others, during this period.
"Unacademy
and PrepLadder are working towards the common goal of making quality
education accessible to all. We believe that the synergies between both
products will truly create a mark in the industry," said Deepanshu
Goyal, Co-Founder, PrepLadder.
Founded in 2015, Unacademy
currently has over 10,000 educators, more than 30 million learners and
caters to over 35 exam categories.
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