Mail ru : completes investment transaction with Uchi Group

Mail.ru Group has invested in the Uchi.ru e-learning platform. The сompany now owns a 25% stake in Uchi Group and may increase it in the future by exercising options. The founders of Uchi.ru will remain its shareholders and continue working to grow the company.

Uchi.ru is Russia's leading platform within the K-12 e-learning segment, and its developer Uchi Group is a resident of the Skolkovo Innovation Centre's IT cluster. About 50% of Russian schoolers (8 million people) use the platform for free or on a subscription basis to study Math, Russian, English, and other subjects. The platform also offers classes in programming and exam preparations, as well as training for academic competitions. Over 350,000 teachers leverage the platform in their work. Educational materials designed by professional curriculum developers can be customised to match the individual abilities of each student. During the lockdown, Uchi.ru became the world's No. 2 most visited educational website, according to SimilarWeb's April 2020 ranking.

Uchi Group is also developing the Uchi.Doma (Study at Home) project focusing on one-on-one sessions with teachers. On top of that, it offers projects for international markets (HappyNumbers.com, Dragonlearn.org, BRICSMATH.COM) with a presence in the USA and Canada, as well as pilots in India, China, Brazil, South Africa, Indonesia and Vietnam.

'At Mail.ru Group, we are building an education ecosystem for people of all ages and from across the globe to study and improve their skills. We are happy to see Uchi.ru join us. The platform provides an excellent opportunity for school students to take individual classes with the best instructors, even if such professionals are unavailable in their vicinity,' commented Boris Dobrodeev, CEO (Russia) of Mail.ru Group.

'This year our services have grown exponentially in Russia and abroad. We will continue working hard to make quality education available to schoolers around the world. Partnership with Mail.ru Group will help us reach even more schoolchildren and provide them with greater learning opportunities,' said Ivan Kolomoets, co-founder of Uchi.ru.

Uchi Group has potential to deliver an annual growth of at least 30% in 2020-2023 with an even higher estimated margin.

About Mail.ru Group's education ecosystem

Mail.ru Group takes a comprehensive approach to developing online education services ranging from preschool to vocational training. Algoritmika offers courses in programming and mathematics; Uchi.ru helps improve knowledge in multiple school subjects, programming and soft skills, while Tetrika connects students with tutors for exam preparation. Educational projects supported by leading Russian universities enable students to master the most in-demand tech skills while getting a degree. The GeekBrains, Skillbox, and SkillFactory projects help develop professional competencies and master new skills. In addition, Mail.ru Group holds annual IT championships on its All Cups platform.