Riding strong on its non-linear growth strategy, upGrad has earmarked USD 250 million for mergers and acquisitions over the next seven to nine months. Recent reports indicate that upGrad would cross half-a-billion USD annual revenue run rate by March’22 and is looking to raise close to USD 400 million at a valuation close to USD 4 bn.
Highlighting upGrad’s non-linear growth strategy, Ronnie Screwvala, Co-founder, and Chairman, upGrad commented, “We continue to build a very strong, integrated, connected model in higher education across multiple geographies including Middle East and South Asia. Personally, I am a strong believer that the whole is always bigger and more valuable than the sum of the parts. Outside of cash, we see a very strong value currency in our stock to look to merge/acquire companies with exceptional founders who will join us as fellow entrepreneurs to build this out over the next decade.”
upGrad has identified specific segments as well as target companies for its mergers and acquisitions, two of which will be announced over the next 60 days. Some of these target companies are based in the MENA region.
upGrad recently announced online learning programs for UAE and Saudi professionals that are designed to accelerate careers and grow regional businesses.
