UpGrad has withdrawn from acquisition talks with Unacademy due to disagreements over valuation, ending months of negotiations. The proposed all-stock deal would have valued Unacademy significantly lower than its 2021 peak. Sources indicate UpGrad cited business challenges and competition as additional concerns. Unacademy has recently undergone internal restructuring and reported narrowed losses, while UpGrad is operationally profitable. This development highlights ongoing consolidation and valuation recalibrations in India's edtech sector.