Unacademy acquires test prep platform Wifistudy

BENGALURU: In a bid to tap into the test prep market, online education startup Unacademy has acquired Jaipur-based online exam preparation platform Wifistudy. The deal size is $10 million, mostly consisting of stock. While it is a complete acquisition, the company will continue to operate independently.

With over 4.5 million subscribers and 70 million monthly video views, Wifistudy is one of the largest educational YouTube channels in the world,” said Gaurav Munjal, chief executive of Unacademy. “This acquisition will help us go deeper into the test prep market.”

This acquisition comes a few months after Unacademy raised $21 million its series C financing from Sequoia India, Saif Partners, Nexus Venture Partners and other existing investors at a valuation of more than $100 million. The company, which allows educators to create content, had plans to utilise these funds to expand into K-12 and competitive exams such as the JEE.

Which makes Wifistufy a perfect fit for Unacademy, says Munjal. Founded by Dinesh Godara in 2013, Wifistudy helps aspirants through exam preparation tips, strategy, syllabus, and pattern. As part of this acquisition, Wifistudy will also launch a profile on the Unacademy platform, which will help its users access these videos.

“We were initially looking at a strategic investment, but we shared a similar vision with them. This is why we decided to go for a complete acquisition,” added Munjal.

Unacademy was launched as a YouTube channel in 2010 by Munjal, Roman Saini, Hemesh Singh and Sachin Gupta. It lets tutors and educators create video courses that are published on the Unacademy platform.