Edtech major Unacademy on Tuesday announced the acquisition of a majority stake in professional networking platform TapChief. and enable the exit of all existing investors, a statement said.
Unacademy said post the acquisition, TapChief will join the Unacademy Group with a valuation of Rs 100 crore. It, however, did not provide details about the quantum of stake acquired, the investors exiting and money invested by Unacademy.
TapChief is set to join Unacademy with a valuation of Rs 100 crore and with this move, has offered an exit to all the existing investors of TapChief, the company said in a statement.
While the company didn’t disclose details of the deal, three Entrackr sources have signaled that the investors and outgoing founders of TapChief have got a secondary exit at the company valuation of Rs 47.5 crore. “Unacademy poured in another Rs 26.5 crore in primary capital at a post-money valuation of Rs 100 crore,” added one of the sources on condition of anonymity.
Founded in 2016 by Shashank Murali, Binay Krishna, and Arjun Krishna, TapChief provides a suite of solutions to help professionals interact and learn from experts, work with businesses from across the world, and aggregate their personal brand online.
TapChief claims to have more than 150,000 registered professionals, who use the platform to collaborate with a host of experts from their respective fields and take up short-term professional projects, and over 150 enterprise customers across education, FMCG, e-commerce, enterprise SaaS, upskilling, among others.
