WhiteHat Jr is India’s second largest ed-tech company at a revenue run rate of $150 Million.
Byju's, India’s largest online learning firm, on August 5 said it has acquired WhiteHat Jr., a startup focussing on online coding classes for kids, continuing the dealmaking frenzy in the ed-tech space. The deal gives Byju's an entry into a promising and early segment in Indian education.
Online coding classes have become the newest battle for supremacy for startups, with 1.5 year old WhiteHat Jr. having a revenue run-rate of $150 million at the time of its sale, the startup said. Founder and CEO of WhiteHat Jr. Karan Bajaj will continue to lead the company.
The deal also gives an early exit to WhiteHat's investors- venture firms Nexus Venture Partners, Owl Ventures and Omidyar Network.
WhiteHat currently offers live online coding classes to children in the age group of 6 to 14 and helps them build commercial-ready games, animations and apps.
Byju's, which started out by providing online classes for students from kindergarten to Class 12 (K12), it recently ventured into live classes, test preparation and entrance exams as well. Online education has become the hottest sector during the COVID-19 pandemic as students under lockdown have taken to online learning platforms at unprecedented levels.
Companies like Byju's, Unacademy, Vedantu and WhiteHat Jr. have doubled and tripled growth in the last three months.
Ref: moneycontrol.com
