Think and Learn, which owns and operates education technology platform Byju’s – The Learning App, announced that it has acquired Mumbai-based WhiteHat Jr in a $300 million all-cash transaction.
Founded in 2018 by Karan Bajaj, WhiteHat Jr is a Live online 1:1 platform that connects kids age 5-12 to top early childhood coding teachers. WhiteHat Jr teaches kids the fundamentals of coding logic, structure and algorithmic thinking to help kids generate creative outcomes. The curriculum is designed by IIT/ IIM alum.
WhiteHat Jr’s mission is to empower a whole generation to become creators versus consumers of technology, teaching students to code, and helping them build commercial-ready games, animations and apps, using the fundamentals of coding.
According to an official statement released by Byju’s, it will make significant investments in WhiteHat Jr’s technology platform, product innovation while expanding the teacher base to cater to demand from new markets. Karan Bajaj, founder of WhiteHat Jr, will continue to lead and scale this business in India and the US. DC Advisory acted as the exclusive financial advisors for the deal.
The acquisition will now allow Byju’s to launch coding to children, a niche but fast-growing segment among the K-12 space in the broader ed-tech sector.
“WhiteHat Jr is the leader in the live online coding space. Karan has proven his mettle as an exceptional founder and the credit goes to him and his team for creating coding programs that are loved by kids. Under his leadership the company has achieved phenomenal growth in India and the US in a short span of time,” said Byju Raveendran, founder and chief executive of Byju’s.
The WhiteHat Jr acquisition is also likely to give its investors a strong exit. The Mumbai-based company, which last raised capital in late 2019 from Silicon Valley-based investor Owl Ventures, Omidyar Network and Nexus Venture Partners, has till date raised a little over $11 million across its seed and Series A rounds.
The closure of the deal comes even as Byju’s is reportedly in advanced stages of negotiations to acquire Doubtnut, a two-year-old learning app, for as much as $100-$150 million, in what is also expected to be an all-cash transaction.
Earlier in 2019, Byju’s had acquired Osmo, a US-based learning platform, for $120 million. Before that, Byju’s had acquired Math Adventures, TutorVista and Vidyarth.
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