M&A
Multilingual edtech co Adda247 buys UPSC-focussed platform StudyIQ for Rs.150- Cr
Multilingual edtech platform firm Adda247 has acquired fellow New Delhi-based UPSC-focused edtech platform StudyIQ Education for USD 20 million (around INR 150 crore) in a cash and stock deal. StudyIQ Education claims to have over 11 million subscribers, receiving close to 100 million views a month. StudyIQ's gross revenue for 2020-21 stood at INR 33 crore, growing at over three times as compared to the previous financial year. Founded by Anil Nagar and Saurabh Bansal in 2010, Adda247 had acquired YouTube channel Success Ease in 2019.
From the Venture Intelligence PE-VC Deal Database: Between Oct-19 and Nov-21, Adda247 raised over $20-M from JM Financials, Asha Impact, Info Edge, and WestBridge. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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