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Facebook-backed Unacademy acquires PrepLadder for $50 million [TechCrunch]
Indian online learning platform Unacademy said on Tuesday it has acquired Chandigarh-based startup PrepLadder for $50 million as the Facebook-backed edtech giant scouts for deals to expand its presence in the country.
PrepLadder, which employs about 150 people, offers courses aimed at medical students. The two-year-old startup, which never raised any capital from external investors, has more than 80,000 subscribers, said PrepLadder co-founder Deepanshu Goyal.
The acquisition of PrepLadder comes as both Unacademy and Byju’s — the two edtech leaders in India — have engaged with several startups in recent months to further their dominance in the nation. In a call with reporters today, Gaurav Munjal, co-founder and chief executive of Unacademy, said he was open to talking with more startups to see opportunities to work together.
Facebook-backed Unacademy, which began as a YouTube channel in 2015, has amassed over 30 million learners on the platform, more than 200,000 of which are paid subscribers. More than 700,000 users access its app and website each day.
More to follow…
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