Adda24-Owned Edtech Platform StudyIQ’s Cofounder Gaurav Garg Steps Down

Gaurav Garg, cofounder and managing director of StudyIQ, has stepped down from his leadership role at the edtech company, which was acquired by adda247 in December 2021.

Garg shared the news on social media, marking the end of his time at the company he co-founded in January 2015.

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“Today was my last day at Study IQ. I founded Study IQ in January 2015 and it had gotten acquired by Metis Eduventures (Adda24x7) in December 2021. Since then I was helping the company in transition and had been serving as its Managing Director,” Garg said in a post on social media platform X.

Garg did not share details about his next plans or who will lead StudyIQ going forward. In a brief post, he said, “What will I do next? Will keep everyone posted.”

Founded in 2015 by Garg and Abhishek Jain, StudyIQ runs an edtech platform mainly for students preparing for UPSC and State Public Service Commission (PSC) exams. The startup was acquired by Adda247 in 2021 in a $20 million cash-and-stock deal.

StudyIQ’s YouTube channel has over 2 crore subscribers, and its app has been downloaded more than 1 crore times on the Play Store.

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The Adda247-owned edtech platform reported revenue of INR 76.7 crore in FY24, more than double the INR 30.6 crore it earned in the previous year. At the same time, its losses fell 24% to INR 27.4 crore from INR 44.9 crore in FY23.

Garg’s exit comes as the Indian edtech sector goes through major changes. Former market leader BYJU’S is facing long insolvency and legal battles, while unacademy is reportedly up for sale.

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