India’s Unacademy sells to rival upGrad for $206M, about 94% less than its peak valuation

Unacademy, an Indian online education platform, was sold to competitor upGrad for 206 million dollars, according to an announcement by Unacademy co-founder and CEO Gaurav Munjal. Munjal stated in a written communication, "We raised at a peak, but sold at a fraction of that. I'm not going to dress these facts up." The sale price represents approximately 94 percent less than Unacademy's previous peak valuation. The transaction combines two of India's largest online education companies.

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