Edtech Unicorn upGrad Purchases Test-Prep Provider Exampur Marking its 5th Acquisition in 2022
upGrad, an Edtech company, recently acquired test-preparation company Exampur for an undisclosed amount. The new deal marks the 5th acquisition for upGrad in 2022 alone. According to upGrad, Exampur has high potential, and the 100% merger aligns with upGrad’s learning efforts.
Everything You Need To Know in 37 Words
Due to the Covid-19 pandemic, E-learning has become a hot commodity for students to gain an education at home. upGrad has obtained Exampur to expand its reach in India and the quality of Exampur’s subjects for students.
More About upGrad’s Efforts
According to upGrad, Exampur has high potential, and the 100% merger aligns with upGrad’s learning efforts.
Exampur, on the other hand, disclosed that it is looking to make an estimated revenue of 7.5 million USD. Exampur was established in 2018 by Vardan Gandhi and Vivek Kumar.
The learning platform, based in Noida, boasts around 10 million students and offers more than 200 test-preparation courses. Most courses are designed for government jobs.
The majority of content on the platform is delivered via Exampur 27+ YouTube channels for disciplines such as Defence, SSC, UPSC, Teching, Banking, and more.
Exampur has over 12 million subscribers and an average of 2.5 million students. 90% of the users have paid memberships. The learning platform has been looking for an acquisition agreement since 2021 because of a lack of funds.
upGrad Jeet, on the other hand, has been expanding its wings and is looking to grow organically. Exampur seems to be an ideal venture.
Discussing the deal, Exampur founders Vardan and Vivek said,
“The number of educated Indians has indeed grown immensely, yet the rate of unemployment remains high. Factors such as geopolitical situations, and COVID-19 and increasing inflation have had a negative impact on employment in India. So, we want learners to be able to crack the competitive examples, and that is why we created a hybrid learning platform via our digital presence… We have solid support from upGrad who are [successful] industry leaders….”
upGrad has also acquired firms such as Work Better Training, TaletEdge, Impartus Innovations, Global Study Partners, and KnowledgeHut. The most recent acquisition was the International School of Engineering, a 33 million dollar share deal.
The new deal marks the 5th acquisition for upGrad in 2022 alone
upGrad made revenue of about $75 billion with a net loss of $52.7 billion in 2021. However, the first quarter of 2022, saw the company making a profit of $300 million. As of August 2021, upGrad was valued at $1.2 billion. The company is looking to make more revenue thanks to its recent acquisitions of the International School of Engineering, and Exampur.
Other Related Developments From Around the Industry
UpGrad is not the only company venturing into the Indian Edtech market. The renowned E-learning platform, SkillShare, is expanding its operations in the country and increasing its reach.
Much like upGrad, the top-quality platform, Amphy, and its ultimate stay-at-home learning platform is increasing in popularity and size.