Edtech Unicorn Unacademy aquires Rheo TV for Undisclosed amount
New acquisitions are booming in the Indian edtech space. Unacademy, the edtech unicorn, acquired Rheo TV, a live game-streaming platform, for an undisclosed sum last month.
Rheo TV is Unacademy's eighth acquisition since March 2020, after Kreatryx, CodeChef, PrepLadder, Mastree, Coursavy, NeoStencil, and TapChief.
The company, which is backed by SoftBank, General Atlantic, Facebook, and Tiger Global, is conducting a land grab across learning segments as India's edtech sector experiences a major consolidation wave following the COVID-19 outbreak.
According to Vivek, each acquisition had very strong post-acquisition synergies in terms of onboarding a good team, acquiring quality content, and acquiring a very loyal user base.
Unacademy COO Vivek Sinha states, "Acquisitions at Unacademy never happen just because of the fear of missing out."
Furthermore, the test prep business — Unacademy's most mature business — is rapidly expanding. As a result, he claims, the startup is under no pressure to grow organically, but if a valuable asset becomes available, the company will investigate it.
Furthermore, the test prep business — Unacademy's most mature business — is rapidly expanding. As a result, he claims, the startup is under no pressure to grow organically, but if a valuable asset becomes available, the company will investigate it.
The edtech behemoth also raised $440 million in its most recent Series H funding round, valuing the company at around $3.44 billion.
According to Vivek, a large portion of the funds will go toward improving the startup's product experience, solidifying its test prep business, and focusing on its pre-level and Graphy categories.
“We believe that we have built the best product in the K-12 space,” he says, adding the startup aims to make the product available to more learners.
Temasek Holdings led the round, with Mirae Assets also participating. Existing investors such as Tiger Global, General Atlantic, and SoftBank Vision Fund 2 took part as well.
In addition, OYO Rooms CEO Ritesh Agarwal and Zomato Founder Deepinder Goyal have joined forces with the edtech unicorn.
“This fundraise gives us enough ammunition to execute our vision for the next few quarters,” Vivek says.
According to Vivek, Unacademy is now looking to expand internationally.
During the pre-pandemic phase, the edtech unicorn grew by a factor of ten; the pandemic accelerated growth even further.
Vivek adds, “More than half of the business now comes from new categories that were launched in the last 12 months.”
Rheo TV is Unacademy's eighth acquisition since March 2020, after Kreatryx, CodeChef, PrepLadder, Mastree, Coursavy, NeoStencil, and TapChief.
The company, which is backed by SoftBank, General Atlantic, Facebook, and Tiger Global, is conducting a land grab across learning segments as India's edtech sector experiences a major consolidation wave following the COVID-19 outbreak.
According to Vivek, each acquisition had very strong post-acquisition synergies in terms of onboarding a good team, acquiring quality content, and acquiring a very loyal user base.
Unacademy COO Vivek Sinha states, "Acquisitions at Unacademy never happen just because of the fear of missing out."
Furthermore, the test prep business — Unacademy's most mature business — is rapidly expanding. As a result, he claims, the startup is under no pressure to grow organically, but if a valuable asset becomes available, the company will investigate it.
Furthermore, the test prep business — Unacademy's most mature business — is rapidly expanding. As a result, he claims, the startup is under no pressure to grow organically, but if a valuable asset becomes available, the company will investigate it.
The edtech behemoth also raised $440 million in its most recent Series H funding round, valuing the company at around $3.44 billion.
According to Vivek, a large portion of the funds will go toward improving the startup's product experience, solidifying its test prep business, and focusing on its pre-level and Graphy categories.
“We believe that we have built the best product in the K-12 space,” he says, adding the startup aims to make the product available to more learners.
Temasek Holdings led the round, with Mirae Assets also participating. Existing investors such as Tiger Global, General Atlantic, and SoftBank Vision Fund 2 took part as well.
In addition, OYO Rooms CEO Ritesh Agarwal and Zomato Founder Deepinder Goyal have joined forces with the edtech unicorn.
“This fundraise gives us enough ammunition to execute our vision for the next few quarters,” Vivek says.
According to Vivek, Unacademy is now looking to expand internationally.
During the pre-pandemic phase, the edtech unicorn grew by a factor of ten; the pandemic accelerated growth even further.
Vivek adds, “More than half of the business now comes from new categories that were launched in the last 12 months.”
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