Adda247, a test preparation platform for government and public sector exams, said on Thursday it has acquired YouTube channel Success Ease for an undisclosed sum.
Owned by Metis Eduventures Pvt. Ltd, the platform said that the acquisition would help it strengthen its test-preparation offerings for technical jobs. Delhi-based Success Ease, through its YouTube channel, helps technical job aspirants prepare for competitive exams including Graduate Aptitude Test in Engineering (GATE) and Staff Selection Commission Junior Engineers (SSC JE). It also helps students prepare for tests run by institutions and agencies such as the Delhi Metro Rail Corporation and the Railway Protection Force.
Adda247 chief executive and co-founder Anil Nagar said, “We help numerous students across India achieve excellence every year by providing curated course work.”
Adda247, launched by Nagar and Saurabh Bansal in 2010, claims to have over 40 million users. The platform offers products such as video courses, live classes and mock examinations. It also runs various websites including Bankers Adda, SSC Adda and CTET Adda.
In 2017, the firm’s parent company Metis raised a bridge round of funding worth Rs 10 crore ($1.5 million then) from Pune-based Sterlite Ventures, a firm backed by Sterlite Technologies Ltd. Metis also owns and operates physical centres under its Career Power brand.
Online education in India across ages and fields has seen a surge in popularity in recent years, with startups and investment companies aiming to capture the growing market. In March, iChamp, owned by RNM E-services Pvt. Ltd, raised an undisclosed sum in a Series A funding round led by Ariana Investment Management chief executive Raju Shukla.
In December last year, Byju’s, owned by Think and Learn Pvt. Ltd, raised $540 million in a round that valued the company at $3.8 billion. The investment was led by South African media and e-commerce firm Naspers, and joined by others including Canada Pension Plan Investment Board (CPPIB) and New York-based General Atlantic.
