Unacademy suffers a loss of Rs 285 crore in FY24
Gaurav Munjal-led edtech platform Unacademy recorded a loss of Rs 285 crore in FY24 compared to Rs 1,592 crore in FY23.
Live online learning platform Vedantu on Thursday announced it has bought a majority stake in test preparation platform Deeksha (Ace Creative Learning Pvt Ltd) for $40 million.
Deeksha is one of the leading K-12 test preparation players in Karnataka and according to Vedantu, this strategic partnership will further its hybrid education strategy.
Advertisement
Since 1998, Deeksha has created over 65,000 success stories through its 39 centres across three states.
Advertisement
“With this acquisition, our mission is to empower and scale Deeksha’s current learning model by deploying our disruptive in-house hybrid technology to reach the masses in remote areas and create impact at scale,” said Vamsi Krishna, CEO, and Co-Founder, Vedantu.
This culmination of online and offline capabilities will help us expand our hybrid learning initiatives, Krishna added.
This partnership will leverage Vedantu’s technology and integrate it into offline centers to create a scalable hybrid model which provides access to quality teaching, even in remote tier 3 and 4 towns at affordable cost.
“Through this partnership, we will leverage Vedantu’s LIVE Class platform for our students and provide a hybrid solution that maximizes learning outcomes through personalized learning algorithms,” said Dr. Sridhar, Co-Founder, Deeksha.
Deeksha said it will bring in close to 13,000 of its students to Vedantu’s platform.
In addition, Deeksha will leverage Vedantu’s already existing strong credentials in LIVE Classes, educational technology, and strong pedagogical content.
On Vedantu more than 1 million students attend Live classes every month and more than 35 million users every month from over 10,000 cities and more than 50 countries access free content, tests, doubts, and videos on the platform and its channels on YouTube, according to the edtech company.
Advertisement
