Ronnie Screwvala's UpGrad in Talks to Acquire Unacademy

Reknowned entrepreneur and filmmaker Ronnie Screwwala led Edtech major UpGrad is in talks to acquire Unacademy. The deal could value the test-prep platform at $300-400 million, people familiar with the matter said. The two companies could sign a term sheet within three weeks, according to sources.

Current Status of Unacademy

The potential valuation represents a sharp decline from Unacademy's last publicly known valuation of $3.44 billion in 2021. Sources indicate that under the proposed transaction, Unacademy's language-learning app AirLearn would be spun off into a separate entity.



At the same time, the core test-preparation business which includes its growing network of offline learning centers would be spun off. 

Unacademy's cash burn has declined sharply over the past three years from ₹1,000 crore annually to around ₹100 crore now. According to sources the company now has cash reserves of around ₹1,200 crore making it an attractive buy.