Bengaluru-based online education company Unacademy has acquired Jaipur-based online exam preparation platform and career portal Wifistudy in a bid to tap into the test prep market. The amount of the deal was around $10 million, mostly consisting of stock.
The following acquisition will assist Unacademy to establish its existence in smaller Indian towns and cities where WiFiStudy has a stronghold. While it is a complete acquisition, Wifistudy will continue to operate independently under the leadership of Dinesh Godara, its co-founder and chief executive.
“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,” Gaurav Munjal said. “With over 4.5 million subscribers and 70 million monthly video views, Wifistudy is one of the largest educational YouTube channels in the world,” he added.
With this acquisition, the company aims to go deeper into the test prep market. Founded in late 2013, WiFiStudy runs an online study platform for competitive exams like staff selection commission (SSC), insurance and banking, defence, state police services, civil services, railways and others, information on its Google Play Store page shows.
“Together, Unacademy, India’s largest learning platform, and WiFiStudy, India’s biggest YouTube channel for competitive exams can create massive impact on the Indian education system,” Godara stated.
On the other hand, Unacademy currently claims to have a network of 5,000 active educators, five million learners, offering over 50,000 courses in more than 10 Indian languages. Unacademy was launched as a YouTube channel in 2010 which lets tutors and educators create video courses that are published on the Unacademy platform.