Ronnie Screwvalas upGrad to merge arms, become integrated global edtech – Business Standard

Ronnie Screwvala-led edtech unicorn upGrad has initiated a merger of its entities, to create one main company in India, to drive its vision for an integrated strategy. Upon the consolidation of the subsidiaries, upGrad will become an integrat…….

Ronnie Screwvala-led edtech unicorn upGrad has initiated a merger of its entities, to create one main company in India, to drive its vision for an integrated strategy. Upon the consolidation of the subsidiaries, upGrad will become an integrated higher edtech global player, offering short-form courses, campus programmes and government test preparation courses.

“We’re here to build a long-lasting company and we want to be an integrated firm. Our main focus is to look at the knowledge workers around the world, which is about 1.3 billion. That’s our real market,” said Ronnie Screwvala, chairperson and co-founder, upGrad, in an interview. “When we started, we wanted to solidify our approach in India, which is about 250 million target group, and then look at the rest of Asia, emerging markets like Latin America, and Africa and then the US. Our positioning compared to anyone else in this sector is that we (want) to be an integrated lifelong learning company.”

To achieve this ambition, upGrad is merging its subsidiaries. upGrad Campus (originally Impartus) is expecting to be a Rs 100 crore revenue entity by March, 2022. The firm is aiming at doubling it in FY 23.

upGrad Jeet (originally Gate Academy) has launched a very different offering in the government test prep segment. Also, upGrad KnowledgeHut (originally KnowledgeHut) on short courses has been an instant hit, and will cross Rs 200 crore ARR (annual revenue run rate) in March, 2022 and then double a year later. Here 70 per cent of the revenue and learners are global.

As the global integrated higher edtech player, upGrad will offer courses for college learners such as undergraduate degrees and study abroad programmes. For working professionals, it would offer executive and masters programmes.

“When we say integrated, it means we want to be in the full value chain of the 18- 50 years (including) college learners and working professionals,” said Screwvala, who co-founded upGrad in 2015 along with Mayank Kumar and Phalgun Kompalli. “We can make them job-ready, (help them) complete their undergraduate degree or take them to the next level in terms of employment.”

upGrad offers over 100 courses in collaboration with top-notch global universities. These include Deakin Business School (Australia), Duke CE (US), Michigan State University (US), University of Arizona (US), Liverpool Business School (UK), IIT Madras and IIM Kozhikode. The firm has impacted over 2 million total registered learners in about 100 countries across the world.

upGrad competes with players such as Simplilearn, Udemy, Coursera, Edureka, Byju’s, Vedantu and Unacademy, which are also eyeing to tap different segments in the education sector. This is because the country’s $180-billion education sector has gone online to adapt to the new reality, leading to …….

Source: https://www.business-standard.com/article/companies/ronnie-screwvala-s-upgrad-to-merge-arms-become-integrated-global-edtech-121112401113_1.html

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