upGrad is all set to expand its market share through acquisition of Impartus

Online education soared to new heights amid pandemic. Classroom teaching remained at halt and online study became the need of the hour in 2020. This bolstered the growth of educational startups like Vedantu and Byjus ,  both the companies  have tailored study programs for students in middle and high school.

 

The pandemic was a blessing in disguise for upGrad. As the name suggests, the company founded in 2015, offers courses to undergraduate and postgraduate students. The platform is a hub for courses, and has a 55,000+ learner community.

 

 It also offers short term diploma and certificate courses to working professionals. 

 

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Company’s revenue skyrocketed by 95% in the year 2020. In the final quarter of 2020, the company's total revenue was 163 crore. upGrad has previously partnered with EyeWay Vision to introduce AR based immersive learning to Indian students.

 

upGrad’s operating revenue ranges between 100-500 crores for the year 2020. upGrad is currently valued at $1 billion. Ronnie Screwvala, Ravijot Chugh, Phalgun Kompalli, and Mayank Kumar are founders of upGrad.  

 

To expand its market reach, and to target high school students upGrad has acquired Impartus, a video learning platform. 

 

Impartus a Bangalore based startup makes education interactive through Video Learning. It provides a platform for rolling off new online courses. Educators can conduct live classes and it has a plethora of features for moderating live classes.

 

This acquisition will help upGrad to bring the high school and middle school teachers to its platform. Impartus will be renamed as “upGrad campus”. upGrad paid 150 crore to acquire Impartus. 

 

As reported by ZeeNews Ronnie Screvwala upGrad’s founder said,” upGrad Campus will bolster our presence in the university education space and help the youth learn the necessary skill sets to become more employable and join the workforce as leaders of tomorrow.” 

 

upGrad has previously made five acquisitions. It acquired Rekrut India, The Gate Academy, Pyoopil Education Technology, and AcadView with the purpose to expand its business and to reach a wider community of individuals. 

 

Unacademy is also working towards the transformation of online Education and is giving stiff competition to upGrad.  

 

As per Stastistics, the global E-Learning market is expected to reach $336.98 billion by the year end 2026.