upGrad acquires edtech platform Harappa Education for Rs 300 cr
Higher education platform upGrad on Friday announced it has acquired online learning institution Harappa Education for Rs 300 crore (about $38 million).
upGrad closed the transaction with present Harappa shareholders - Bodhi Tree Systems (a newly-formed platform between James Murdoch and Uday Shankar) and Co-Founders Pramath Raj Sinha and Shreyasi Singh.
Harappa Education is likely to clock Rs 75 crore in revenue this year.
"A combination of upskilling courses along with these critical skills that Harappa has to offer would set us apart. We see strong demand from our clients and with Harappa coming in, we believe we'll be able to grow exponentially within the segment as we cross-leverage the synergies," said Ronnie Screwvala and Mayank Kumar, Co-founders of upGrad.
Co-founded by Sinha, also the Founding Dean of the Indian School of Business (ISB), Harappa Education offers self-paced courses to address the spiralling problem of poor employability, inadequate leadership, and an ill-equipped workforce.
Harappa has an active clientele of 100 mid and large-sized organisations.
"As a combined force, Harappa and upGrad will anchor our purpose and conviction to create a truly wholesome learning ecosystem for lifelong learners in India and abroad, with our time-tested pedagogy, flagship programs, and rich partnerships to guarantee unmatched outcomes for our learners and clients," said Sinha and Singh, Founders of Harappa.
upGrad has a learner base of over 3 million across over 100 countries and more than 300 University partners, along with an enterprise business with a client base of 1000 companies worldwide.
Earlier this month, upGrad Rekrut, a 100 per cent subsidiary of online higher education platform major upGrad, announced it has acquired recruitment and staffing firm Wolves India, for an undisclosed sum.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
12:37 PM IST