UpGrad has completed its acquisition of edtech firm Unacademy in a deal valued at just over $200 million (reported figures range up to $206 million). Multiple outlets cite Unacademy CEO and co-founder Gaurav Munjal acknowledging the size of the markdown from the company’s earlier peak valuation.
Several reports compare the deal value with Unacademy’s 2021 peak valuation of about $3.44 billion, describing it as roughly a 90–94% drop. TechCrunch and Business Line highlight that this is about 94% less than the peak valuation, while other coverage focuses on the final price and Munjal’s remarks. Munjal also says the company raised money at high valuations but exited at a far lower one, and he frames the sale as a candid reflection rather than a rebranding of the numbers.
Context across outlets includes that the acquisition is structured as an all-stock 100% share swap, and that Munjal is reported to continue as CEO after the transaction. Free Press Journal adds details on Unacademy’s finances at the time—revenue of around ₹400 crore and cash reserves cited around ₹900 crore—along with Munjal’s view that the combination with UpGrad is intended to expand opportunities for the education sector. Other outlets also note Unacademy’s contributions, including its educator community and consumer learning products, as part of the broader backdrop to the deal.
