Adda247 acquires UPSC focused platform StudyIQ Education in a deal of Rs150cr.
- ByStartupStory | December 17, 2021
Edtech platform firm Adda247 announced that it has acquired UPSC-focused edtech platform StudyIQ Education for around Rs 150cr in a cash and stock deal.
The multilingual platform said in a statement, “StudyIQ YouTube channel is India’s largest educational Youtube channel in terms of monthly viewership, while it is the second largest in terms of subscribers’ base after Wifistudy. By acquiring it, Adda247’s will be able to strengthen its position in the UPSC segment, which has one of the highest ARPUs (average revenue per user) in the test preparation segment,”
Adda247 founder and CEO Anil Nagar said “StudyIQ students will invariably figure among top-10 rankers in most of the state PSC exams. We will get a huge leverage of their strength in the segment and the brand they have created over the years,”
StudyIQ Education has over 11 million subscribers, and the platform receives close to 100 million views a month, as claimed by the company.
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