This acquisition is second in line in the coding segment after Byju’s acquired Whitehat Jr for $300 Mn in August 2020.
US-based Tynker is set to be acquired by India’s leading start-up BYJUS. The former is a coding platform for kids, adding to the list of acquisitions BYJUs has undertaken in the past year. With this acquisition, the EdTech platform is set to consolidate itself as a leader in the K12 segment. This acquisition is second in line in the coding segment after Byju’s acquired Whitehat Jr for $300 Mn in August 2020.
In 2021 alone, the 416.5Mn startup has acquired half a dozen companies by spending over $2 Billion. These range from upskilling, schooling, college education and competitive exams. Since its foundation, this will be its fifteenth acquisition. This comes a year and a half earlier than when Byju’s is planning to go public
Tynker was founded in 2012 by Srinivas Mandyam, Krishna Vedati, and Kelvin Chong in California. It teaches children aged between 5 and 18 how to develop coding skills including creative coding, Minecraft, among others. It has reached 90,000 schools covering 60 million children.
Source: Business World