Byju’s Acquired WhiteHat Jr For $300 Million Dollar
Byjus Class Still
Byju’s as a part of expanding its online educational business has acquired an 18-month-old ed-tech startup for $300 million. Byjus founded by Byju Raveendran is growing its business at a massive phase during recent times, expanding its network among the student. The deal was an all-cash deal makes WhiteHat Jr. as an integrated part of the Byjus. The startup was offering online coding classes to school-going students in India and the U.S for the past few months. The company has raised decent funding during its first quarter. The company has raised $11 million from Omidyar Network, Owl Ventures, and Nexus Venture Partners. In a short span of time, the company has raised $150 million as revenue. As of the time being the startup operates as a separate entity under the management of Byjus.
Karan Bajaj, founder of WhiteHat Jr during one of the press releases said that their mission for starting the online educational platform is to make kids creators instead of consumers of technology. In one of the official posts, he has expressed that “Technology is at the centre of every human interaction today and we had set out to create a coding curriculum that was being delivered live and connected students and teachers like never before”. This deal has given a positive mindset towards the Indian educational startups.
Byju Raveendran has “significant investments” in WhiteHat Jr will hire more teaching guides to expand it to new markets. WhiteHat Jr. has recently announced their future plans to expand its educational market in different countries other than India. The countries that the company will expand in the upcoming days are Canada, U.K., Australia, and New Zealand. Whitehat has adopted a new strategy to appoint each teacher to every student which increases more concentration and tracking of individual performance. Each session costs around about $10 while more than 5000 teachers are working in WhiteHat Jr.
The company has proved its potential in a short span of time by becoming a leader in the live online coding space. Experts believe that working on an idea to educate kids from their home as a unique potential that provide space for the students. Raveendran said, “The company has achieved phenomenal growth in India and the US in a short span of time under the exceptional leadership”. The deal proved that the growing phase of education startups in India, especially during the global pandemic, is great and assures to have futuristic development.
The acquisition of WhiteHat Jr becomes an added advantage to the online educational giant Byjus during the upcoming rounds of seeding investment. Other this acquisition the company has also planning to acquire many educational startups to merge with their core network. As many might knows that Byjus has also acquired U.S.-based startup Osmo into custom hardware in a $120 million deal early last year, The parent company is looking to expand its network to reach a student in the nook and corner of the country. Byju’s has raised about $400 million this year, from its investing portfolios. This acquisition will favor Byjus to fund and build its online educational portfolio. It’s evident that online educational platforms are the next generation educational medium reaching millions of young students.