Acquisition-hungry learning platform Unacademy has acquired a majority stake in professional networking platform TapChief, enabling the exit of all existing investors, Financial Express has reported.
The deal value is undisclosed but the business is believed to be worth around 100 crore rupees (£9.9 million).
Founded in 2016, TapChief enables professionals to learn, network and win short-term ‘gig’ contracts. In a statement Bengaluru-based Unacademy said TapChief has more than 150 enterprises as customers, covering different sectors including education, fast moving consumer goods, e-commerce, and software.
It added that professionals using the platform have completed more than 50,000 gigs for Fortune 500 companies, unicorns, venture-backed start-ups, and small and medium-sized businesses in India.
Gaurav Munjal, co-founder and chief executive of Unacademy Group, said on Twitter: “Unacademy started by levelling the playing field for students who cannot travel to Kota, Delhi and other cities, by getting them access to these educators and highest quality content for a fraction of the cost. And now it is time for us to help students get their dream jobs by getting them the best education and access to top companies which they are not getting. This is the reason we are acquiring TapChief.”
Date published: 18 February 2021