India: Unacademy acquires exams preparation start-up WiFiStudy | #VentureCanvas
Prasannata Patwa | DealStreetAsia Startups
Online education start-up Unacademy (Sorting Hat Technologies Pvt. Ltd) has acquired WiFiStudy, a Jaipur-based YouTube channel, to increase its presence in tier-2 and -3 cities among students who prepare for public recruitment exams including railways and banking.
WiFiStudy was acquired in a stock and cash deal, according to a statement released by Unacademy.
WifiStudy primarily makes videos in Hindi, where the instructor talks about preparations related to exams including Bank PO and RBI. The channel has about 4.5 million subscribers.
“In the last few years, we have steadily grown with over 5,000 active educators who are imparting education to millions of learners. Getting WiFiStudy on board just seemed like the logical next step,” Unacademy co-founder and CEO Gaurav Munjal said. “With their exemplary set of teachers and strong presence in smaller towns and cities, we are one step closer to realising our vision. WiFiStudy will be part of the Unacademy group but will continue to operate independently under the leadership of Dinesh Godara, who will serve as the CEO.”
Unacademy is one of the country’s fastest-growing education start-ups with a network of 5,000 active educators, 5 million learners and over 50,000 courses in more than 10 Indian languages.
Founded in 2015 by Gaurav Munjal, Roman Saini and Hemesh Singh, Unacademy has raised roughly $39 million from investors such as Sequoia India, SAIF Partners, Nexus Venture Partners and Blume Ventures.
Munjal and Singh previously founded roommate discovery start-up Flatchat, which was eventually sold to CommonFloor in 2014.
This article was first published on livemint.com
The post India: Unacademy acquires exams preparation start-up WiFiStudy appeared first on DealStreetAsia.