Unacademy concludes $50 million secondary share sale
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Last Updated: Jan 13, 2021, 06:37 PM IST
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Synopsis
Tiger Global, Dragoneer, Steadview Capital and General Atlantic have purchased $50 million Unacademy shares from existing investors to increase their stake in the edtech startup.
Tiger Global and Dragoneer had in November last year invested an undisclosed amount in Unacademy Group at a valuation of $2 billion.
Bengaluru:Unacademy has concluded a secondary transaction round that saw Tiger Global, Dragoneer Investment Group, Steadview Capital and General Atlantic purchase $50 million-worth of shares from existing investors to increase their stake in the edtech startup.
Tiger Global and Dragoneer had in November
Small-town dreams to $1 billion valuation: How Aakash Educational Services grew wings
Byju’s is in talks to acquire Aakash Educational Services in a billion-dollar deal. But what makes this coaching-led education company founded by JC Chaudhry tick? How did it become the target of an acquisition? Read on to find out
Aakash Educational Services founder JC Chaudhry and son Aakash. Picture Courtesy: Forbes India
From a tiny coaching centre in Delhi to a Rs 1,200-crore-plus annual turnover, Aakash Educational Services (AESL) dreamt big ever since its launch in 1988 (as Aakash Institute). Starting a coaching business at a time when this was still a novel concept, founder JC Chaudhry ensured that the company stayed relevant to changes in the educational needs of students.
Byju s To Acquire Blackstone-Backed Aakash Educational Services For Rs. 7,300 Cr
The deal, one of the largest edtech acquisitions in the world, is expected to materialise in the next two or three months Website Outlook Web Bureau 2021-01-13T18:16:19+05:30 Byju s To Acquire Blackstone-Backed Aakash Educational Services For Rs. 7,300 Cr outlookindia.com 2021-01-13T18:30:10+05:30
India s leading edtech startup Byju s is reportedly acquiring test preparatory service provider Aakash Educational Services Ltd. for $1 billion, or nearly Rs. 7,300 crore, according to a report by Bloomberg.
The deal is expected to materialise in the next two or three months, and would emerge as one of the largest edtech acquisitions in the world.
It is expected to be a $1 billion deal.
13 Jan, 2021 - 09:06 AM IST | By indiantelevision.com Team
New Delhi: Byju’s, India’s biggest online-education startup, seems to be on an acquisition spree trying to create its dominance in the education market. After it acquired Whitehat Jr in mid 2020 for $300 million, the online ed-tech startup is now all set to acquire Aakash Education, as per media reports.
The online edtech startup is said to have signed an acquisition deal to acquire brick and mortar test preparation leader Aakash Educational Services for $1 billion.
The deal is expected to be one of the largest edtech acquisitions in the world and is expected to close in the next two or three months.
Byju s to acquire Aakash Educational Services for $1 billion: Report
The deal, one of the largest ed-tech acquisitions in the world, will be closed in the next two to three months.
Byju s Founder Byju Ravindran.
Byju s, India s biggest online education startup, is on its way to acquire Aakash Educational Servies Pvt Ltd for $1 billion, reported Bloomberg on January 12.
Backed by Blackstone Group, Aakash Educational Services runs Aakash Institute, the well-known chain of coaching centres that train students for engineering and medical entrance exams.
According to the report, the deal, one of the largest edtech acquisitions in the world, will be closed in the next two to three months. Aakash s founders, the Chaudhry family will exit completely, while Blackstone will swap a portion of its 37.5 percent equity in Aakash for Byju’s stake.