Byju’s acquires coding platform Tynker for $200 million in US expansion push

Byju’s said on Thursday it has acquired California-headquartered Tynker, a leading coding platform for K-12 students, the latest in a series of major purchases as the Indian edtech giant attempts to aggressively expand to international markets.

The companies didn’t disclose the terms of the deal, but a person familiar with the matter told TechCrunch that the Indian firm is spending about $200 million on the acquisition.

Tynker operates an eponymous coding platform. It has established itself as a leader in the space, having amassed over 60 million kids on its platform, Tynker founders told TechCrunch in an interview.

The eight-year-old startup, which gamifies the learning experience to make it more exciting for kids to participate, also maintains partnerships — and has presence in — over 100,000 schools across 150 nations, said Srinivas Mandyam.

Mandyam, as well as Tynker’s other co-founders — Krishna Vedati and Kelvin Chong — will continue with the firm after the acquisition, they said. Vedati said in an interview that the startups began exploring ways to collaborate earlier this year.

Byju Raveendran, founder and chief executive of Byju’s, told TechCrunch in an interview that Tynker’s asynchronous offering fits perfectly in Byju’s current portfolio. India’s most valuable startup acquired WhiteHat Jr, a coding platform that offers synchronous classes, last year in a $300 million deal. “Tynker’s offering is complimentary to WhiteHat Jr’s,” he said.

Tynker is the latest firm to be acquired by Byju’s, which has amassed over 100 million registered users — about 6.5 million of whom are paid customers — across the globe. The Bangalore-headquartered startup has this year along acquired Scholr, Aakash Institute, Hashlearn, Epic, and Great Learning for over $2 billion in cash and equity deals. Just last week it revealed that it had also purchased Times Internet-backed Gradeup for an undisclosed amount.

Raveendran said that Byju’s is continuing to explore more merger and acquisition opportunities. These acquisitions are helping Byju’s aggressively broaden its offerings and tap international markets in more meaningful ways, he said.

On the other side of the business, the Indian edtech giant is also beginning to explore an initial public offering. The startup has began conversations with bankers, some of whom have given the firm a proposed valuation of up to $50 billion, TechCrunch reported first last month.

Raveendran confirmed that “IPO is on the cards,” but said it’s too early to comment on a precise timeline.

This is a developing story. More to follow…


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