Ed-tech firm BYJU'S has acquired Mumbai-based
live online coding provider WhiteHat Jr. in a USD300 million deal.
India: Leading ed-tech firm BYJU'S announced the
acquisition of 18-month old Mumbai-based EdTech startup WhiteHat Jr. The
all-cash deal is worth USD300 million (roughly INR 2,246 crore). After the
acquisition, BYJU'S will make investment in product innovation and technology
platform of WhiteHat Jr so as to cater to increasing demand from the market.
WhiteHat Jr. Founder will continue to
lead and scale the business in India and the United States. The company had
recently announced their plans to expand to other global markets such as
Canada, UK, Australia and New Zealand after significant growth in the United
States for its one-to-one online coding classes.
BYJU’s founder and CEO said, “WhiteHat
Jr is the leader in the live online coding space. The company’s coding product
capabilities, combined with our pedagogy, expertise and scale, will help expand
our learning offerings for school students”.
According to TechSci Research, With
64 million students cumulatively learning from the app, 4.2 million annual paid
subscriptions and an annual renewal rate of 85 per cent, BYJU'S is one of the
world’s most valued ed-tech startup. During the COVID-19 pandemic, students are
enrolling in online classes at unprecedented levels. This has helped companies
like BYJU’s, Unacademy and Vedantu to witness significant growth in the country.
According to the published report by TechSci Research, “Global Digital Education Market By Learning Type (Instructor-Led Online
Education, Self-Paced Online Education),By Course-Type(Entrepreneurship and
Business Management Courses, Science and Technology Courses, Others), By
End-User (Academic Institutions, Enterprises, Government Organizations,
Individual Learners, Others), By Region, Forecast & Opportunities, 2025,” global digital education market is
expected to grow at a CAGR of over 20% during the forecast period. The main
reason for growth of digital education is that aspirants can opt for it from
anywhere, with the flexibility in time for them coupled with added advantage of
online certifications. Increased use of smartphone, tablet, laptop coupled with
high speed internet penetration is further expected to drive the market growth
of digital education through 2025. Growing adoption of cloud-based technology
and internet penetration has enabled the learners to opt for online education.
Presence of large number of content providers in the market is bringing huge
educational content online. The hosting cost has declined and growing need for
accessing educational content online is propelling the growth of digital
education.
According to the recently published
report by TechSci Research, “Global Online Learning Platforms Market By Type (Academic, Corporate,
Government), By Deployment Mode (On-Premise v/s Cloud), By Vendor (Content
Provider v/s Service Provider), By Learning Mode (Self-paced v/s
Instructor-led), By Learning Type (Synchronous v/s Asynchronous), By Technology
(Mobile E-learning, Learning Management System, Application Simulation Tool,
Rapid E-learning, Podcasts, and Virtual Classroom), By End User (Higher
Education Institutions, K-12, Enterprises, Others), By Region, Competition,
Forecast & Opportunities, 2025”, the global online learning platforms
market is projected to grow at a CAGR of 11% during 2020 - 2025 on account of
rising adoption of technologies such as AI, IoT, big data, among others, to
make the teaching and learning experience more efficient and personalized.
Additionally, benefits of online learning platforms such as flexibility,
availability at anytime and anywhere, and low cost are further expected to
propel the market over the next five years. Furthermore, technological
advancements, increasing smartphone user base, new product launches and
increasing expenditure by the major players is expected to spur the growth of
market through 2025.