Byju's speeds up its US expansion - Acquires K-12 coding platform Tynker

Date:
Fri, 17 Sep 2021 05:05:34 +0000

Description:
The acquisition will expand Byjus US footprint by providing access to the
more than 60 million students and over 100,000 schools in Tynkers existing global user-base.

FULL STORY ======================================================================

India's top-valued unicorn, Byju's , which is eyeing the US market with a lot of seriousness, is acquiring the US-based creative coding platform Tynker. Though the company did not specify the value of the deal, market reports have it as being close of $200 million. The Indian online education company had earlier this year acquired the US-based reading platform Epic for $500
million (roughly Rs 3,730 crore). Six acquisitions for Byju's in a year so
far - Great Learning and Toppr in its kitty now Amazon India enters ed-tech with Amazon Academy WhiteHat Jr's troubles raise disturbing questions about Indian ed-tech cos But why Tynker?

Byju's, which claims to have more than 100 million students on its platform, has entered into a definitive agreement to acquire Tynker, touted to be among the worlds leading K-12 creative coding platform.

The acquisition is expected to help Byju's expand its US footprint by providing access to the more than 60 million students and over 100,000
schools in Tynkers existing global user base.

"The acquisition will enable Tynker to introduce its creative coding platform to even more kids, educators, schools and coding camps globally. Tynkers creative coding platform has been used by over 60 million kids and 100,000 schools in 150 countries," a press statement from the company said.

Tynker co-founders Krishna Vedati, Srinivas Mandyam and Kelvin Chong will remain in their roles. Since its inception in 2013, Tynker has helped kids create over seven billion lines of code.

Byju Raveendran, Founder and CEO, Bujus said: Our goal is to ignite a love
for programming in children globally and we feel strongly that Tynker's creative coding platform and approach to making programming fun and intuitive for kids will get us there even faster. Byju's US plan on course

Tynker has notable partners like the BBC Learning, Google, Microsoft, Mattel, and NASA. Additionally, Tynker is also known for providing fun and engaging coding games and puzzles to the Hour of Code, a global movement to introduce people of all ages to computer programming, with millions of students participating each year.

Over the last year and a half, Byju's has acquired two additional major
edtech companies in the US Osmo, the award-winning playful learning system for creating healthy screen time experiences, and Epic, the leading online digital reading platform.

All three acquisitions are part of Byju's goal of investing $1 billion in the US edtech market over the next three years. Flipkart Big Billion Days: New launches and expected deals of tech products



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Link to news story: https://www.techradar.com/news/byjus-speeds-up-its-us-expansion-acquires-k-12- coding-platform-tynker/


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