PW acquiring Drishti IAS for ₹2,500 Cr — masterstroke or mistake waiting to unfold? A few years ago, BYJU’s acquired WhiteHat Jr, followed by Aakash and others. The result? Bloated burn, cultural mismatches, and post-acquisition chaos. Now PhysicsWallah, India’s edtech unicorn that proudly scaled profitably, is buying Drishti IAS — one of the most trusted names in UPSC coaching — reportedly at a ~3x revenue multiple. On the surface, it’s a sharp move: • Drishti has a strong Hindi belt UPSC hold • ₹405 Cr revenue and ₹90 Cr PAT in FY24 • Deep brand trust in a fiercely competitive category But acquisitions are like arranged marriages.Everything looks great on paper. The real test is post-deal integration — team morale, tech alignment, content transition, and student experience. BYJU’s failed to manage this with WhiteHat Jr. Will PW succeed where others didn’t? Is this PW’s leap towards a coaching empire that rivals traditional offline giants? I strongly hope they do.
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