Byju’s acquires US-based coding platform Tynker


NEW DELHI: Continuing its aggressive wave of acquisitions, Byju’s said Thursday that it will acquire K-12 creative Tynker encoding platform for an undisclosed amount, as the educational technology specialty seeks to further consolidate its presence in the US market.
In July, Byju’s had acquired the US-based digital reading platform Epic for $ 500 million (around Rs 3,729.8 crore) and had announced an additional investment of $ 1 billion (around Rs 7,459.7 crore) during the next three years in the North American market to expand its operations. there.
In a statement Thursday, Byju’s said it has signed a definitive agreement to acquire Tynker.
The acquisition will allow Tynker to introduce its creative coding platform to more children, educators, schools and coding camps globally, he added.
Tynker’s creative coding platform has been used by more than 60 million children and 100,000 schools in 150 countries. Since its inception in 2013, Tynker has helped children create more than seven billion lines of code.
“Tynker co-founders Krishna Vedati, Srinivas Mandyam and Kelvin Chong will remain in their roles and continue to carry out Tynker’s mission of providing each child with a strong foundation in computer science, programming and critical thinking skills,” he said.
Joining forces with Tynker will allow us to bring the imaginations of hundreds of millions of students to life through encryption, said Byju Founder and CEO Byju Raveendran.
“Our goal is to ignite the love of programming in children around the world and we firmly believe that Tynker’s creative coding platform and approach to making programming fun and intuitive for children will get us there even faster.” added.
The acquisition will help expand Byju’s US presence, which has more than 100 million students on its platform, by providing access to Tynker’s existing global user base. The partnership is also key for both brands sharing the same vision of democratizing access to encryption for students, according to the statement.
Tynker’s approach is to understand what kids are passionate about, whether it’s building games, animating, or modifying Minecraft, and then creating specific experiences, apps, and custom learning paths to empower them to code, Co-Founder and CEO from Tynker, Krishna Vedati. said.
“We wholeheartedly believe that joining the Byju family can help children globally develop foundational STEM skills that will serve them well as they progress through school and ultimately help prepare them for careers in fields. technical and non-technical, “Vedati added. .
Over the past year and a half, Byju’s acquired two other major educational technology companies in the US: Osmo and Epic.
The edtech space has seen strong growth globally, including in India, with the Covid-19 pandemic serving as a tipping point. Many offline classes were put online to ensure continuity of education while adhering to social distancing rules.
Byju’s is estimated to have raised around $ 1.5 billion since April last year in multiple tranches. Byju’s (Think & Learn Pvt Ltd) is backed by major investors including General Atlantic, Sequoia Capital, Chan-Zuckerberg Initiative, Naspers, Silver Lake, and Tiger Global.
Filled with funds, Byju’s has been on a wave of acquisitions, buying Aakash Educational Services Ltd (AESL) for around $ 1 billion to bolster its presence in the test prep segment in April this year.
In July, it acquired Singapore-based Great Learning for $ 600 million (approximately Rs 4,466 crore) and announced an additional $ 400 million investment to strengthen its position in the vocational and higher education segment. Post that, you acquired Epic.
Previously, Byju’s had acquired TutorVista and Edurite (from Pearson in 2017), Osmo (2019), and coding training platform WhiteHat Jr for $ 300 million last year.

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