Bengaluru-based edtech startup Unacademy has acquired Jaipur-based online education and career portal, WifiStudy, for an undisclosed amount in a cash and stock deal.
According to Unacademy, this acquisition will help expand its presence in smaller Indian towns and cities where WifiStudy has a stronghold.
WifiStudy was founded by Dinesh Godara in 2013. The platform provides users learning materials to help them prepare for competitive public-sector exams like SSC, banking, railways among others. The startup boasts of having over 4.5 Mn subscribers on its youtube channel, with 70 Mn monthly views.
“We share Unacademy’s vision and believe that education should be accessible, affordable and of the best quality. We are happy to join the Unacademy group,” Dinesh Godara, CEO, WiFiStudy.
According to Facebook post by Unacademy, WifiStudy will continue to operate independently under Godara. Online education sector is expected to clock a growth of $1.96 billion by 2021, with the number of paid users rising six-fold to 9.6 million. The Indian education industry is currently valued at $100 billion.