E-learning leader of the country, Byju’s, owned and operated by Think and Learn, has acquired the K-12 learning platform WhiteHat Jr in an all-cash transaction deal for $300 million.
As reported by ET (1), Byju’s will be making significant changes in WhiteHat Jr’s tech platform and product innovation, while expanding its teacher base to meet the demands of the new market.
Karan Bajaj, who founded WhiteHat Jr in 2018, will continue to lead and scale the company’s business in India and the US.
WhiteHat Jr operates as a K-12 leader in the market that teaches its students how to code, and help them in building commercial-ready games, animations, and other apps.
The startup claims to be clocking a revenue run rate of $150 million and has also developed a proprietary coding curriculum that is focussed on product creation and also imparts lessons via their live interactive classes.
The leader of live coding space
The acquisition allows Byju’s to launch coding to children, one of the fastest-growing segment among the K-12 space in the broader edtech sector.
Byju Raveendran, founder at Byju’s, while talking about the development, said that WhiteHat Jr is the leader in live online coding space and has achieved phenomenal growth in India and the US in the short span of time. He added that Karan, founder of WhiteHat Jr, has proven his mettle as an exceptional founder.
The acquisition of the Mumbai-based company is also likely to give its investors a strong exit.
Byju’s is also apparently in advanced stages of negotiations to acquire Doubtnut, another learning app, for around $100-150 million in an expected all-cash deal.
Link : https://timesnext.com/byjus-acquires-whitehat-jr-300-million/
Author :- Saumya Uniyal
August 06, 2020 at 12:02PM
TimesNext