Reliance Industries are looking at buying education portal ‘Embibe.com’ founded by Aditi Avasthi in 2012. Embibe products comprise of question banks, and time management tips (& more) for JEE aspirants, along with foundation course for Grade 8th – 10th.
People close to this matter confirmed that Mukesh Ambani owned Reliance Industries is looking to buy 100% stake in Embibe for Rs 100 crores. Embibe had earlier acquired medical entrance exam training portal ‘100Markes’, for an undisclosed sum.
Lightbox Ventures and Kalaari together invested $4 million in 2013. These were considered as early-stage investments, and the buyout from Reliance will allow these two companies to exit with handsome returns.
“The company would need content when data becomes big. And the company has not done enough in the education sector. After the acquisition, we expect data to play a major role here”, a company source quoted ET.
With Reliance Industries to take over the educational portal soon, we can expect dynamic changes to take place on Embibe.com, bringing the platform’s availability to a broader section of the audience. At the same time, industry experts believe that the company can well target ‘Byju’s’, given its deep pockets.