According to a top company official, CollegeDekho has acquired its rival firm Getmyuni for roughly Rs 50 crore in a mix of cash and equity deal, which will help the company’s revenue development. Getmyuni will continue to function independently following the acquisition. Part of its leadership will join the combined entity’s board of directors, according to Ruchir Arora, co-founder, and CEO of CollegeDekho.
“We have acquired 100 per cent of Getmyuni which is also a college discovery platform for about Rs 50 crore in cash and equity mix. They (Getmyuni) will continue to operate under their leadership. Some from their leadership team will also join CollegeDekho in the leadership ecosystem,” he said.
CollegeDekho, founded in 2015, is on a mission to institutionalize student counseling in India’s higher education sector.
“We have been growing close to 100 per cent year-on-year. Last financial year we closed with a net revenue of Rs 50 crore. Right now we are already expecting 4 times of that. With Getmyuni, we will have about 50 per cent of all students query through us,” Arora said.
CollegeDekho, he said, is attempting to build an entire ecosystem around student needs, including loan access. He added that Getmyuni is highly similar to CollegeDekho.
“They also run another website called IELTS material. They are very similar to CollegeDekho. They will solidify our position. Between CollegeDekho and Getmyuni, we will cater to almost 50 per cent of all higher education traffic in the country,” Arora said.
Getmyuni, he said, will help the merged organization become the country’s largest student enrollment platform, producing over 25 crores annual student traffic and supporting over 30,000 enrollments across almost 2,000 partner colleges.