Byju’s acquired WhiteHat Jr for US $300 million in an all cash deal. The news was recently confirmed by the company on their official blog. The acquisition is the biggest in the company’s history after it has acquired the likes of Osmo, Math Adventures, Vidhyarth and TutorVista in 2019.
While Byju’s, a well known name in India, is an edtech company offering academic learning programs targeted mainly towards kids, WhiteHat Jr is focused on teaching coding skills to the kids, having most of its customer base in India and US.
WhiteHat Jr, based out in Mumbai, was established in 2018 by Karan Bajaj, ex-CEO of Discovery Networks India. Since then, the startup has created a proprietary curriculum to teach kids coding and helping them build products like games, apps that are ready for the consumer market. In a unique model, the interactive online lessons are imparted on 1-1 basis with only one teacher having one student. The company claims to have a revenue rate of US $150 million.
Established in 2011, Byju’s growth is phenomenal and is now valued at more than US $5.5 billion. With DC advisors acting as the financial advisors for the deal, Byju’s acquired WhiteHat Jr as part of its expansion plans, particularly to tap the US market. The company says that it will operate WhiteHat Jr as a separate entity and is keen to invest more into it to expand the teacher base. Karan Bajaj will still lead the company to further expand its base in India and US.
Also, Byju’s is reportedly in talks to acquire Doubtnut, an online application that helps students solve problems in Maths, Physics, Chemistry and Biology, for as much as US $150 million.