The online learning platform Unacademy has made an announcement on Tuesday about its acquisition of Prepladder, which is a medical entrance preparation platform where students are provided with courses to enhance their skill and knowledge.
The Chandigarh based platform Prepladder was acquired by Unacademy in an attempt to strengthen its presence in the medical entrance examination category.
Reportedly, Unacademy owned Preladder for $50 million which is estimated to roughly 373.2 crores INR. The foundation of Prepladder was done in the year 2016 and the platform concerns only the preparation of medical entrance exams and provides their courses to the medical aspirants.
Unacademy looks forward to extend its services and sectors like NEET PG and FMGE that means Foreign Medical Graduates Examination.
The e-learning platform is backed by social media platform Facebook, as in the month of February, Unacademy received a funding of $110 from General Atlantic and Facebook.
Chief executive officer and Co-founder of the e-learning platform, Unacademy, Gaurav Munjal said in a statement, “As we strengthen our position as a market leader in the test prep market, bringing Prepladder on board will play a strategic role for Unacademy in the medical entrance examinations category.”
In the last three months, Unacademy witnessed 100% surge in their user base, and as far as the watch time on daily basis of the students are concerned, it also experienced a steep increase of 100 percent due to the COVID-19 situation. On the other hand, Prepladder also have upto 85,000 subscribers with the help of which, Unacademy will be strengthening their business.