In the current new normal, several online educational platforms are flourishing with high revenues. And it is no doubt that Byju’s is one among those companies. WhiteHat Jr is an online learning platform which offers online coding classes. Byju’s reported that it acquired WhiteHat Jr for $300 million. And it has been one of the most uncommon all-cash deals in the startup ecosystem. This deal has been in the progress for the past few months and it will definitely boost the growth of this Unicorn startup. On the other hand, WhitHat Jr claims for the annual revenue of $150 million.
The two-year-old WhiteHat Jr will give its Mumbai based investors and founders one of the most profitable exits in the startup ecosystem. WhiteHat Jr was founded by former Discovery Networks India CEO Karan Bajaj and backed by few others. WhiteHat Jr was already in the discussion of raising venture capital funds and they have also got many offers. But WhiteHat Jr chose the deal with Byju’s. The Unicorn also recently reported about their expansion across Canada, UK, Australia and New Zealand. But their main revenue was from the US.
Recently Byju’s was valued at $10 million after raising funds from Mary Meeker’s Bond Capital. It claimed that it doubled its revenue in the financial year 2019. Byju’s also reported that it has 64 million registered students, over 4 million paid subscribers. On the other hand, Byju’s has also signed up with Walt Disney to teach the kids through cartoon characters and it has also been a lead cricket sponsor.
What do you think of the Byju’s acquisition of Whitehat Jr? Having any idea on Byju’s further moves after this deal with WhiteHat Jr? Ideas popping up? Here is the platform to express your views.
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