India’s largest e-learning company Byju’s has cracked its fourth acquisition deal as it buys math learning startup Math Adventures. However, Byju’s has refused to disclose the exact valuation of the deal, giving weigh to rumors that this may be an acquihire and not acquisition per say.
Following the acquisition deal, Math Adventures’ entire team will merge with Byju’s content & R&D team.
“Math Adventures’ activities will help us with our K-3 product development,” Byju Raveendran, CEO & Founder of Byju’s told Economic Times.
Math Adventures was founded by husband-wife duo ,Ashok Nair and Vidya Jayaraman, in 2012. Through Math Adventures, the Duo’s aim was to make boring & tough subject like maths into an interesting subject by combining short videos & activity based approach.
How Byju’s plans to benefit from latest acquisition
Math Adventures has gained lot of market traction in Bengaluru and surrounding areas. According to reports, the company has already enrolled 7,000 students from 12 schools. Most of these students are taught by appointed facilitator almost every week. The facilitator seeks to simplify mathematical concepts by simplifying them through interesting & engaging activities.
Byju’s would surely aim to use Math Adventures’ expertise in maths subject for its targeted market, which constitutes of students from class VI to XII.
Meanwhile, Byju’s was recently in news for unconfirmed reports that it is in talks with existing investor Tencent and others to raise nearly $150 Mn.
Separately, Byju’s is sitting pretty cozy as it keeps marching ahead of all its competitors. After securing the coveted Unicron status earlier this year, the company now claims that it is one of the very few unicorns to become profitable. Although this claim is yet to be ascertained independently, there is no denying that today Byju’s is the undisputed poster boy of India’s edutech sector.