Talentedge’s owner takes stake in upGrad at $2 billion value after integration
- ByStartupStory | April 7, 2022
UpGrad, an edtech company, announced on Thursday that it has integrated all of Talentedge’s operations, which will now operate under its own brand, after its owner, Sekhsaria Family Office, purchased a $2 billion interest in the company. UpGrad stated in December of last year that it will buy Gurugram-based edtech rival Talentedge for Rs 350-400 crore.
The near 100 percent share swap transaction was done at an upGrad value of $2 billion, while Talentedge was valued at Rs 205 crore. According to the company, Talentedge is on track to surpass a gross revenue of Rs 150 crore in the coming fiscal year.
UpGrad, which was founded in 2015, is a LifeLongLearning technology firm with over 2 million learners in over 100 countries and over 300 university partners, as well as an enterprise business with 1,000 clients worldwide. The company has offices in the United Kingdom, the United States, the Middle East, India, Singapore, and Vietnam.
UpGrad announced a profit for the fiscal year ending March 31, 2022, thanks to a 150 percent increase in year-over-year revenues and a stable 70% gross margin across all income streams. The startup’s annual revenue run-rate topped $300 million.
In August of last year, the company joined the unicorn club with a $2 billion valuation. Meanwhile, it’s in talks to raise a second round at a valuation of $2.5-3 billion.
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