India, Sept. 2 -- UpGrad has completed the acquisition of Unacademy for just over USD 200 million, about 94 per cent off its 2021 peak valuation, with co-founder and CEO Gaurav Munjal acknowledging the steep markdown in a post on LinkedIn.

Munjal wrote that the company became a unicorn (a privately held firm valued at more than USD 1 billion) six years ago. Unacademy had raised capital at its peak valuation but was ultimately sold for a fraction of that amount.

"Six years ago today, Unacademy became a unicorn. Today, Unacademy has closed its acquisition by UpGrad for just over USD 200 million. We raised at a peak, but sold at a fraction of that. I'm not going to dress these facts up," Munjal wrote on LinkedIn.

While Munjal did not quan...