upGrad not acquiring Noida-based test prep provider Exampur
By IANS | Published: December 17, 2022 02:00 PM2022-12-17T14:00:07+5:302022-12-17T14:10:06+5:30
New Delhi, Dec 17 Online higher education platform upGrad is not going ahead with its acquisition of Exampur ...
New Delhi, Dec 17 Online higher education platform upGrad is not going ahead with its acquisition of Exampur which is a test-prep provider for government jobs.
upGrad in August announced to acquire Exampur for an undisclosed sum.
"We are presently very focused on adult learning and, therefore, this is a strategic call for us. We are happy to re-evaluate this in the future," the company told in a statement.
"There have been no disagreements on the valuation," the company spokesperson added.
Noida-based learning platform Exampur aims to reach Rs 70 crore (nearly $7.5 million) in revenue this fiscal. Co-founded in 2018 by Vivek Kumar and Vardan Gandhi, the platform has a user base of over 10 million students.
Exampur offers over 200 test-prep courses for govt. jobs where most of the content is delivered through its YouTube channels for the UPSC, SSC, defence, banking, teaching and other state-level government jobs.
Ninety per cent of paid users of Exampur are from tier 2, 3 and 4 markets.
Additionally, Exampur offers online test series, free quizzes and live scholarship tests.
upGrad acquired more than a dozen edtech startups in the recent past, like Delhi-based Harappa Education, Bengaluru-based recruitment and staffing firm Wolves, and corporate training startup Centum Training.
Amid the deepening layoff winter, the online higher education platform may ask a major chunk of its employees about one-third or even more to go in days to come, according to people familiar with the matter. The company, however, has denied any upcoming layoff large or small.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
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