{"id":1244111,"date":"2023-03-27T10:21:04","date_gmt":"2023-03-27T04:51:04","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1244111"},"modified":"2023-03-27T10:21:38","modified_gmt":"2023-03-27T04:51:38","slug":"wait-what-unacademy-can-partner-with-byju-owned-aakash-via-cash-equity-mixed-deal","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/wait-what-unacademy-can-partner-with-byju-owned-aakash-via-cash-equity-mixed-deal\/","title":{"rendered":"Wait.. What? Unacademy Can Partner With Byju-Owned Aakash Via Cash-Equity Mixed Deal!"},"content":{"rendered":"\n

Unacademy and BYJU’S-owned Aakash are reportedly in talks of a possible merger, even if both parties have denied the same<\/em><\/strong>.<\/p>\n\n\n\n

\"Wait..<\/figure>\n\n\n\n

Education sector behemoth<\/strong><\/p>\n\n\n\n

If the talks succeed, Unacademy and Aakash will combine <\/a>to form one of India’s largest tutoring organisations.<\/p>\n\n\n\n

It will gain a stronghold on the offline and online test preparation markets in the country.<\/p>\n\n\n\n

BYJU\u2019S bought brick-and-mortar education player Aakash in a cash-and-stock deal worth about $950 million in 2021.<\/p>\n\n\n\n

Moneycontrol reports that the discussions are still in early stages and that any transaction may not actually go through.<\/p>\n\n\n\n

Cash and stock combined<\/strong><\/p>\n\n\n\n

It has not yet progressed to the term sheet level, the report added.<\/p>\n\n\n\n

However, if the talks do materialise, it will be a combination of cash and stock.<\/p>\n\n\n\n

A part of this merger deal, about $100 million, will be in cash.<\/p>\n\n\n\n

The combined entity will consider an IPO rather than Aakash acting alone to seek a public listing, the report noted.<\/p>\n\n\n\n

Investor interest<\/strong><\/p>\n\n\n\n

Both firms share a number of backers, including General Atlantic, Tiger Global, and Sequoia Capital.<\/p>\n\n\n\n

Common investors in both are interested in a merger since the combined entity could make a stronger case for a possible IPO.<\/p>\n\n\n\n

What the board will look like<\/strong><\/p>\n\n\n\n

BYJU\u2019S Co-founder Byju Raveendran and Unacademy Founder Gaurav Munjal have been in talks during the past month.<\/p>\n\n\n\n

If the deal goes through, Munjal is anticipated to lead the combined entity, but Byju\u2019s may be given a board position.<\/p>\n\n\n\n

Latest funding rounds<\/strong><\/p>\n\n\n\n

Unacademy last raised $440 million in August 2021 at a valuation of $3.4 billion.<\/p>\n\n\n\n

BYJU\u2019S raised its last equity funding round of $250 million in October 2022 at a fixed $22 billion valuation.<\/p>\n\n\n\n

BYJU\u2019S needs this<\/strong><\/p>\n\n\n\n

The merger should serve as a lifeline for BYJU\u2019S \u2014which is struggling with the delay in its fundraising due to a delayed due diligence process.<\/p>\n\n\n\n

Earlier this month, Bloomberg News reported that BYJU’S is planning to raise as much as $250 million through the issuance of convertible notes by Aakash.<\/p>\n\n\n\n

As per reports, Aakash had sales of roughly Rs 1,400 crore in FY22 and is anticipated to surpass Rs 2,500 crore this year.<\/p>\n\n\n\n

Image<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Unacademy and BYJU’S-owned Aakash are reportedly in talks of a possible merger, even if both parties have denied the same. Education sector behemoth If the talks succeed, Unacademy and Aakash will combine to form one of India’s largest tutoring organisations. It will gain a stronghold on the offline and online test preparation markets in the […]<\/p>\n","protected":false},"author":24,"featured_media":1244116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[303,327],"class_list":["post-1244111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-byjus","tag-unacademy"],"acf":[],"yoast_head":"\nWait.. What? 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