edtech: upGrad eyes growth through M&As, looks to ramp up tech and content teams
The edtech company, which recently crossed $210 million in annual revenue, is looking to reach the annual revenue run rate of approximately half a billion dollars by March of 2022.
“Aside from our focus on enterprise education and B2B education, we’re also looking to acquire companies in emerging markets, and are talking to assets in Africa, southeast Asia, and Latin America,” said Mayank Kumar, co-founder.
“We are also looking to hire another thousand or so employees to the 3500-odd we have currently, for our content, sales and marketing, and technology teams,” said Kumar.
The edtech company is also looking to scale up its study-abroad programmes that opens a window for Indian learners to pursue a career outside of the country. The blended learning model helps learners save up to Rs. 50 lakh in tuition fees and living expenses as compared to the offline model and attain a globally recognised degree at one-tenth of the offline cost. Currently, the network includes global names like Northern Arizona University, University of Fraser Valley, Yorkville University, International University of Applied Sciences, Torrens University, James Cook University, and University of Canberra.