Russian internet company Mail.ru Group said it has made an investment in the Uchi Group, Russia's platform within the K-12 electronic learning segment. The company will initially acquire a 25 percent stake in the group for RUB 3.75 billion in cash, along with a net cash adjustment payment to be finalised upon deal closure. Mail.ru will also be able to reach a controlling stake in 2022-23, with an initial call option to up the stake to 49.5 percent possible next year. Uchi Group's founders will remain shareholders and continue working to develop the business. The exercise prices under the options will be based on certain of Uchi Group's key future financial performance indicators.

Uchi Group's sales are expected to reach around RUB 3 billion this year, with nearly triple growth year-on-year. The company is targetting sales of over RUB 2.5 billion this year. This year, Uchi.ru's international sales are expected to exceed USD 2 million, up eightfold growth year-on-year.

Uchi.ru, the company's key product (90% of revenue in 2019), focuses on a free or subscription-based self-education school format and covers all the key school subjects, including Math, Russian, English and other subjects as well as disciplines beyond school programme like programming and soft skills. Students can also use the platform to prepare for exams and participate in online competitions. 

Currently, over 50 percent of all Russian pupils (8 million people) and over 350 000 teachers are registered on Uchi.ru, with 37 million in monthly visits. Uchi Group is also developing a Uchi.Doma (Study at Home) project focusing on one-on-one sessions with teachers. The project now offers English classes for pupils with unique content and approach. 

Uchi Group has also been developing projects for international markets with a presence in the US and Canada and pilots in India, China, Brazil and South Africa, Indonesia and Vietnam.