StudyIQ Acquired By Adda247

Edtech platform firm Adda247 has acquired UPSC-focused ed-tech platform StudyIQ Education for $20 million (150 crores) in a cash and stock deal.

Speaking on the acquisition, Adda247 founder and CEO Anil Nagar said it’s a strategic acquisition for Adda247. StudyIQ Education has over 11 million subscribers on Youtube and the platform receives close to 100 million views a month, the company claims. The current acquisition will give Adda247 an edge in the UPSC segment.

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 is India’s largest vernacular ed‑tech platform, focused on government job test prep. Since its founding in 2016 in Gurugram, it’s served over 40 million learners with live classes, mock tests, e‑books, and multilingual content
www.adda247.com

About Seller

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. StudyIQ’s gross revenue for 2020-21 stood at Rs 33 crores, growing at over three times as compared to the previous financial year.
www.studyiq.com