Major EdTech Company upGrad Acquires Unacademy for $218M: A 90% Valuation Cut

A $3.4 Billion company now being acquired at $218 Million.

•upGrad is acquiring Unacademy in an all-stock deal at a ~90% valuation cut
•Peak: $3.4B (2021) → Now: ~₹2,055 Cr ($218M)
•Unacademy still holds ₹900–950 Cr cash at closing
•Temasek backs both — 22% in upGrad, 5% in Unacademy
•upGrad already bought Internshala — this is 2026’s second big move
•7+ acquisitions since 2022 — this is pure consolidation mode

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