Online test-prep company Unacademy is close to buying two smaller edtech startups—Mastree and PrepLadder—for an undisclosed amount. An announcement to the effect is likely very soon, according to people close to the development. Update: Unacademy in a press conference today officially announced the PrepLadder acquisition, for $50 million in cash and stock.
Neither of the two target startups has raised capital so far and their valuations aren’t publicly available. Bengaluru-based Mastree is an online tutoring company founded last year by Shrey Goyal and Royal Jain, both graduates of IIT Bombay’s class of 2016. It operates in the K-12 segment and helps students in grades 6-8 understand the concepts of math and science better. Chandigarh-based PrepLadder was started in 2015 by Deepanshu Goyal and Vitul Goyal, friends since school, to help students preparing for competitive medical exams.
Unacademy did not respond to an email asking about the