On Tuesday, Ed Tech Unicorn Unacademy announced acquisition of majority stake in professional networking platform of TapChief.
It is reportedly set to acquire a majority stake in TapChief which will enable the exit of all existing investors as a part of the deal.
Post the acquisition, TapChief has confirmed to merge with the Unacademy Group for an estimated valuation of Rs 100 crore.
In the late 2019, TapChief had raised an amount of $1.5 million which was then led by Blume Ventures- also an initial investor of Unacademy.
TapChief proffers awide array of technology solutions for legitimizing professionals to interact and learn from experts and work with businesses globally.
However, it has more than 1.5 lakh registered professionals on board who utilise the platform for collaborating with a diverse group of experts from their chosen domains.
Acquisition of TapChief will play a pivotal role in helping students get access to the best jobs and companies in future.
Unacademy Group at present compromises of Unacademy, PrepLadder, Mastree, CodeChef, and Graphy.
Further, the company is funded by investors like Tiger Global, Dragoneer Investment Group, SoftBank Vision Fund 2, Facebook, General Atlantic, Sequoia India etc.
Also, it’s mission has been to empower the modern Indian professional with access to a broad spectrum of opportunities that enhance their career and growth.
The endeavour at Unacademy has always been to democratise education to make learning easily accessible and economical for everyone.
TapChief also shares a similar ideology in a different space which is clearly evident from the open community of professionals and learners generated so far.
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