Education platform Uchi.ru (25% owned by Mail.ru Group) acquired 8.7% in online school TutorOnline, which has an office in Moscow. The amount of the transaction was not disclosed. TutorOnline intends to use the raised funds for platform development, content projects, as well as attracting new customers, Vedomosti reports.
The deal will enable Uchi.ru to expand its share of online education market for the mid- and high school, Ilya Parshin, CEO of the company, says. Sergey Libin, an analyst at Raiffeisenbank, estimates the amount of investment to be around $2.7-$5.4 million (200-400 million rubles), when evaluating the entire asset at a multiplier of 5-10 annual earnings. Mail.ru Group, the co-owner of Uchi.ru, plans to make based on this asset a "springboard" for investments in the edtech sector, the expert suggests.
The TutorOnline project was launched in 2011. It provides individual online tutoring services. The company's revenue, according to its data, in 2020 increased 2.8 times to $3.2 million (238 million rubles). According to this indicator, TutorOnline ranks 27th in the overall rating of the largest EdTech projects in the CIS, according to Smart Ranking.
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