Is Meritnation still owned by Info Edge?

No. Info Edge fully divested its ~66% stake in Meritnation to Aakash Educational Services Limited for roughly Rs 50 crore in a deal announced January 3, 2020. Aakash was later acquired by BYJU'S in 2021, so Meritnation now sits inside the BYJU'S/Aakash corporate structure, which entered NCLT insolvency in July 2024.

Could AI replace Meritnation?

Largely yes for its core offering. Meritnation's main product is static video tutorials, NCERT solutions, and practice tests, content directly substitutable by free tools like ChatGPT and Google Gemini. No AI feature launch has been found for Meritnation in the 18 months through July 2026, unlike rivals Vedantu and Physics Wallah.

Who is Meritnation's biggest competitor?

Physics Wallah is the fastest-growing threat, reporting FY24 revenue of ₹2,015 crore and about 35 percent share of India's online JEE/NEET prep market as of 2025, plus a proprietary AI tutor called Sarthi as of 2026. Vedantu and BYJU'S proper also compete directly for K-12 students.

Is Meritnation profitable?

No standalone financials are disclosed by Meritnation, BYJU'S, or Aakash for the Meritnation brand specifically, so profitability cannot be confirmed. Third-party estimates for revenue vary wildly and inconsistently, from $2.2M to $144.5M, none independently verified as of 2026.

Who owns Meritnation in 2026?

Meritnation operates under legal entity Applect Learning Systems Pvt Ltd, owned by Aakash Educational Services Limited since a January 2020 acquisition, which itself was bought by BYJU'S (Think & Learn) in a roughly $1 billion deal in 2021. BYJU'S entered NCLT insolvency in July 2024, with Aakash ownership still contested as of mid-2026.

Has Meritnation shipped any AI tutoring features?

No evidence of AI feature deployment, such as personalization engines or AI tutors, has been found for Meritnation in the 18 months through July 2026. This contrasts with rivals Vedantu, which launched an AI Live tiered product and WAVE 2.0 platform starting March 2022, and Physics Wallah's AI tutor Sarthi as of 2026.

Education companies · subsidiary of Aakash Educational Services Limited (owned by BYJU'S / Think & Learn, which is in NCLT insolvency; ultimate ownership being contested mid-2026) · India

Meritnation

meritnation.com ↗

Indian K-12 tutoring site with videos, NCERT solutions, and practice tests, owned via Aakash/BYJU'S.

Little protection left

Assessed 22 July 2026 · Evidence as of 22 July 2026

Not much stands between this business and its pressures.

On the recordSince 22 July 2026 · Checkable from Q3 2026 · Every call on the record Checkpoint: Aakash/BYJU'S ownership settlement between Manipal, GLAS Trust, and Raveendran expected to finalize

The call

Meritnation sits as a static content product inside a company under insolvency proceedings, with free AI tools and better-funded rivals both pulling students away.

Meritnation offers video lessons, homework answers, and practice tests for Indian school students, all owned by BYJU'S and Aakash, which filed for bankruptcy protection in mid-2024. Students can now get the same answers faster and free from ChatGPT or Google Gemini, while competitors like Physics Wallah are adding AI features and taking students away. The real question is whether the parent company will survive its ownership crisis by mid-2026, but even if it does, that just means new owners will decide whether Meritnation is worth keeping or selling off cheap.

Why

AI pressure: ChatGPT and Google Gemini. Students now ask ChatGPT or Gemini for homework help and NCERT solutions instead of watching Meritnation videos. Could AI do the core job? Yes, likely.

Bigger players: Physics Wallah and Vedantu. Physics Wallah (Rs 2,015 Cr FY24 revenue) and Vedantu ship AI features and live classes while Meritnation's parent fights insolvency. Could a giant copy it? Yes, easily.

What protects it. Some installed base of paying families still using old subscriptions, but nothing stops them from leaving.

What would change this call

Aakash/BYJU'S ownership settlement (Manipal, GLAS Trust, Raveendran) finalizes or collapses by late 2026. Shows whether Meritnation gets a stable owner or stays in limbo, risking spin-off or shutdown.
Physics Wallah proceeds with its rumored $500-600M IPO in 2026. Would confirm a better-funded rival is pulling ahead in scale and student acquisition.
BYJU'S group layoffs or cost cuts specifically hit Meritnation staff or product spend. Would show Meritnation is being treated as non-core and starved of investment.

Key numbers

Info Edge sold its 66% stake for ~Rs 50 crore (2020-01-03)
Manipal Group holds ~58% of Aakash (2026-06-22)
Physics Wallah revenue: Rs 2,015 Cr (2024)

Named risks

Parent BYJU'S/Aakash ownership dispute remains unresolved with active NCLT insolvency proceedings since July 2024. Severity: high
Core content product directly substitutable by free generative AI tools with no proprietary data or licensing moat. Severity: high
Founder Byju Raveendran faces active contempt jail sentence and fraud FIR as of 2025-2026, adding reputational risk to group. Severity: medium
Rivals Physics Wallah and Vedantu actively shipping AI features and gaining market share while Meritnation shows no AI product moves. Severity: high
No verified current financial or headcount data exists, third-party estimates for revenue range from $2.2M to $144.5M. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Physics Wallah	losing to	PW reported ₹2,015 crore FY24 revenue and ~35% JEE/NEET online market share as of 2025, plus AI tutor Sarthi in 2026
Vedantu	losing to	Vedantu shipped AI Live and WAVE 2.0 AI platform starting March 2022, continuing into 2025-2026, no equivalent from Meritnation
BYJU'S (flagship brand)	losing to	BYJU'S proper still described as dominant in K-12 by market commentary as of 2026 despite its own insolvency, overshadowing Meritnation
Generative AI tools (ChatGPT, Gemini)	losing to	Free LLMs substitute for Meritnation's static video tutorials and NCERT solutions, no defensive AI product shipped as of July 2026

Questions people ask

Is Meritnation still owned by Info Edge?: No. Info Edge fully divested its ~66% stake in Meritnation to Aakash Educational Services Limited for roughly Rs 50 crore in a deal announced January 3, 2020. Aakash was later acquired by BYJU'S in 2021, so Meritnation now sits inside the BYJU'S/Aakash corporate structure, which entered NCLT insolvency in July 2024.
Could AI replace Meritnation?: Largely yes for its core offering. Meritnation's main product is static video tutorials, NCERT solutions, and practice tests, content directly substitutable by free tools like ChatGPT and Google Gemini. No AI feature launch has been found for Meritnation in the 18 months through July 2026, unlike rivals Vedantu and Physics Wallah.
Who is Meritnation's biggest competitor?: Physics Wallah is the fastest-growing threat, reporting FY24 revenue of ₹2,015 crore and about 35 percent share of India's online JEE/NEET prep market as of 2025, plus a proprietary AI tutor called Sarthi as of 2026. Vedantu and BYJU'S proper also compete directly for K-12 students.
Is Meritnation profitable?: No standalone financials are disclosed by Meritnation, BYJU'S, or Aakash for the Meritnation brand specifically, so profitability cannot be confirmed. Third-party estimates for revenue vary wildly and inconsistently, from $2.2M to $144.5M, none independently verified as of 2026.
Who owns Meritnation in 2026?: Meritnation operates under legal entity Applect Learning Systems Pvt Ltd, owned by Aakash Educational Services Limited since a January 2020 acquisition, which itself was bought by BYJU'S (Think & Learn) in a roughly $1 billion deal in 2021. BYJU'S entered NCLT insolvency in July 2024, with Aakash ownership still contested as of mid-2026.
Has Meritnation shipped any AI tutoring features?: No evidence of AI feature deployment, such as personalization engines or AI tutors, has been found for Meritnation in the 18 months through July 2026. This contrasts with rivals Vedantu, which launched an AI Live tiered product and WAVE 2.0 platform starting March 2022, and Physics Wallah's AI tutor Sarthi as of 2026.

Timeline

2026-07-17Singapore court declines to extend stay on Byju Raveendran contempt jail sentence; Aakash settlement near-final
2026-07-06CCI imposes second gun-jumping penalty on Manipal Group over Aakash acquisition
2026-06-22Manipal Education Group reported holding ~58% of Aakash amid ownership endgame talks
2025-09Mumbai EOW files FIR against Byju Raveendran over fraud allegations
2025-05-26Meritnation Android app updated to version 8.7.137
2024-07BYJU'S (Think & Learn) enters NCLT insolvency proceedings in India
2021Aakash Educational Services acquired by BYJU'S in roughly $1 billion deal
2020-01-03Info Edge sells entire ~66% stake in Meritnation to Aakash for ~Rs 50 crore
2017-11-02Info Edge invests Rs 38 crore in Meritnation, raising its stake to 66%
2013-02-25Info Edge invests Rs 30 crore in Meritnation

Revision history

22 July 2026

First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.

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