BENGALURU: Byju’s is going strong on its acquisition plans with the company’s eighth buyout in 2021. The Bengaluru-based decacorn has qcuired an online test preparation platform, Gradeup, and rebranded it as Byju’s Exam Prep.
Sources privy to the development said that the latest buyout of Byju’s could be worth’ $40-50 million.
This also gives the edtech leader an advantage to consolidate its position in the online entrance test preparation vertical which was dominated by Unacademy so far.
Gradeup will be rebranded as BYJU’S Exam Prep and will cater to students preparing for 150+ exams over 25 exam categories covering government jobs and PG entrance exams such as IAS, GATE, CAT, Bank PO/Clerk, Defence, UGC-NET, etc, as per the company’s statement.
“Gradeup has already proved its mettle and we are excited to join forces with the seasoned team. We aim to bring our complementary strengths and expertise together to create engaging and personalised learning experiences,” Byju Raveendran, Founder, and CEO, Byju’s, said .
The company has received investments more than $1.5 billion so far this year,which has been allocated towards acquisitions as well as business promotion strategies.