Ed-tech firm BYJU’S has acquired Mumbai-based online coding provider WhiteHat Jr in an all-cash deal worth $300 million or roughly Rs 2,246 crore.
BYJU’S will make significant investments in WhiteHat Jr.’s technology platform, product innovation while expanding the teacher base to cater to the demand from the new markets.
WhiteHat Jr. founder and former Discovery Networks India CEO Karan Bajaj will continue to lead and scale the business in India and the US.
“WhiteHat Jr is the leader in the live online coding space. Under Karan Bajaj’s leadership, the company has achieved phenomenal growth in India and the US in a short span of time,” said Byju Raveendran, founder and CEO of BYJU’S.
Whitehat Jr is India’s second largest ed-tech company at a revenue run rate of $150 million.
The acquisition will also accelerate BYJU’S US expansion plans.
WhiteHat Jr had recently announced their plans to expand to other global markets like Canada, UK, Australia and New Zealand after a stellar growth in the US for its one-to-one online coding classes.
After launching their courses in the US in February, the company is growing at more than 100 percent month-on-month in the country.
Founded in November 2018, WhiteHat Jr. helps kids aged 6 to 14 years build commercial-ready games, animations and apps online using the fundamentals of coding.
BYJU’S has witnessed phenomenal growth in the country with 64 million students cumulatively learning from the app, 4.2 million annual paid subscriptions and an annual renewal rate of 85 percent. BYJU’S doubled its revenue from Rs 1,430 crore to Rs 2,800 crore in FY19-20.