Unacademy Confirms M&A Talks as Munjal Flags Valuation Below $500 Million
The disclosure underscores a steep valuation reset from the pandemic peak, signaling a pivot to profitability.
Overview
- Gaurav Munjal said in an X post that Unacademy is exploring consolidation and would proceed only if it creates a stronger combined entity.
- Reports say upGrad has held talks for months and floated a $300 million to $400 million offer, with no agreement announced.
- Munjal acknowledged the company’s value has fallen below $500 million from a pandemic-era peak of about $3.5 billion.
- He reported annual burn cut to under INR 175 crore from about INR 1,400 crore in 2022 and revenue near INR 600 crore, with profitability targeted next year.
- The shift tracks a consolidating edtech landscape in India, with BYJU'S in insolvency proceedings and PhysicsWallah public and profitable.