Overview
- Unacademy, in messages shared with staff Tuesday, said cofounder and test-prep CEO Sumit Jain will leave on June 30 and remain an adviser, with Gaurav Munjal stepping in to lead.
- The company is the target of an upGrad takeover that has been filed with the Competition Commission of India, with reports pointing to a 100% share-swap valuing Unacademy at about ₹2,055 crore.
- Reports indicate the core test-prep business and the offline coaching network would fold into upGrad, while the AirLearn language app would be excluded.
- Moneycontrol reports that upGrad is seeking about ₹375 crore from existing backers to support the transaction, and Inc42 says Unacademy may close next year with ₹900–950 crore in cash.
- The move highlights a broader shakeout in Indian edtech after the pandemic surge, as investors drive consolidation following steep valuation cuts and high-profile stress at peers like BYJU’S.