BYJU’S, India’s largest online learning app, has acquired edtech startup WhiteHat Jr. for $300 million. It is an all-cash deal giving BYJU’S an entry into a promising sector.
WhiteHat Jr. teaches coding to young kids. The online platform is made for children to learn programming. They are then encouraged to create games, animations and applications. Karan Bajaj, the former CEO of Discovery Networks India founded WhiteHat Jr. in December 2018.
WhiteHat Jr. has achieved an annual revenue run-rate of $150 million at the time of its sale, the startup said. Also, they had recently announced their plans to expand to other global markets like Canada, UK, Australia and New Zealand.
BYJU’S will make significant investments in WhiteHat Jr’s technology platform, product innovation while expanding the teacher base to cater to demand from new markets. WhiteHat Jr. Karan Bajaj will continue to lead and scale this business in India and the US.
The deal sees increasing investment in the edtech ecosystem post the COVID-19 pandemic. Recently, edtech startup Toppr raised Rs 350 crore in a Series D funding. Companies like Byju’s, Unacademy and Vedantu have almost tripled their growth in the last three months. Online education has seen a big boost during the lockdown, with a sharp increase in their usage by students.
According to TechCrunch, BYJU’S is also in talks to acquire Doubtnut — a two-year-old startup whose app allows students from sixth grade to high school to solve and understand math and science problems in local languages — for as much as $150 million.