Unacademy announced on Tuesday that it has acquired PrepLadder- an online learning platform for medical students. The acquisition is worth $50 million, and will see the Facebook backed platform assume full control of PrepLadder.
Facebook backed Unacademy is an Indian online learning platform that provides live classes, practice, and revision tests for its users, bundled with the comfort of learning anytime, anywhere. The platform, which started as a YouTube channel, now has more than 30 million students. Other than Unacademy’s live courses, all other content is free of cost, and is an ode to the company’s goal of “making quality education accessible to all.”
PrepLadder on the other hand, is an edtech startup operating from Chandigarh, and has just about 80,000 subscribers to date. It is a learning platform for College level Medical students, and helps them to prepare for entrance exams as well as other standardized tests. The startup is just 2 years old, and will now become a part of the much more prolific Unacademy.
“Happy to announce that PrepLadder, India’s largest higher medical education platform, is now a part of Unacademy Group,” tweeted Gaurav Munjal, Founder of Unacademy.
“Unacademy and PrepLadder are working towards the common goal of making quality education accessible to all. We believe that the synergies between the two products will truly create a mark in the sector, “ said PrepLadder’s co-founder Deepanshu Goyal.
The Indian edtech startup scene is gearing up for a war, with Byju’s the clear front-runner so far both financially as well as by consumer base. Both startups have engaged in the task of acquiring small scale platforms, such as Doubtnut and the star of this article, PrepLadder. As these rivals try to cover up as much market as they possibly can, we can expect many more consolidations in the coming months. In fact, Gaurav Munjal, co-founder and chief govt of Unacademy, mentioned he was open to speaking with extra startups to see alternatives to work collectively.
That is not all, Unacademy has also taken up the opportunity presented by COVID 19 and has started establishing connections with schools across the country.
Speaking about COVID, the pandemic poses a huge opportunity for the category in the country. Schools and Universities remain closed, with no word from the Ministry of Health and Family welfare about a possible reopening date. Thus, online classes are the only source of education in these times, something that the country’s institutions are still figuring out. However, ed tech platforms have been preparing for this for years, and now have a chance at exponential growth.