Byju Raveendran, co-founder and CEO of Byju’s, says joining forces with Tynker will help unlock the ability to bring imagination to hundreds of millions of students through coding.
Banglore-based edtech giant with market valuation of $16.5 billion, Byju’s continues to be in the spotlight for boosting its market expansion by acquiring Tynker.
The US-based company, Tynker is a leading innovative programming platform allowing its users to learn how to develop coding skills. The company is the eighth acquisition of unicorn establishment Byju’s. However, it is reported that the value of the deal is yet to be disclosed.
It is believed that this acquisition will fuel the company’s market expansion across the borders of our country. Not only to Byju’s but this step will also contribute to bolster the exposure of the coding platform globally through the unicorn edtech company. Tynker will most likely be induced with even more users including kids, schools, education providers, etc. Currently, the innovative establishment is used by millions of kids from age 5-18 in more than a hundred countries.
Founder and CEO of Byju’s, Byju Raveendran, commented on the potential of the merger saying, “Joining forces with Tynker will unlock the ability for us to bring imagination to life for hundreds of millions of students through coding.”
“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,”
After the tie-up, the US-based company will continue serving kids, schools and educators with its courses including Minecraft Modding, Minecraft Game Design, Python, Creative Coding, CSS, etc. These courses adds up to more than 60 other courses that the platform offers to its users. Founded by Krishna Vedati, Kelvin chong, and Srinivas Mandyam, this coding company aims to make an impeccable impact in our existing education segment.
CEO and co-founder of Tynker, Krishna Vedanti shared , “Our focus is on understanding what kids are passionate about- whether that’s building games, making animations or modding Minecraft.”
“We then create specific experiences, apps, and personalized learning paths to empower them to create with code. We wholeheartedly believe that joining Byju’s family can help children on a global level develop fundamental STEM skills. It will serve them well as they progress in school and ultimately help prepare them for careers in both technical and non-technical fields.”
Vedati unveiled the reason for merging with Byju’s. he said that although the company has been showing good growth and performing profitably, it is far from a big public establishment which is why they finally took this step of joining hands with the edtech unicorn. He expressed further, “We saw how they are executing at an enormous scale to become the number one edtech company in the world.”
Byju’s has merged with edtech companies on a large scale. It currently serves a hundred million students with more than six million subscriptions. Merging with Tynker will unlock new opportunities for both the companies. The coding platform aims to expand its student-reach from sixty million to two hundred million as Vedati said, “One of the goals is how do we reach from 60 million to 200 million kids in the next 2-3 years.”
Before this programming platform, Byju’s recently acquired an exam preparation platform, Gradeup which is now familiarized as ‘Byju’s Exam Prep’. This merger will serve students with over 25 types of exam preparations. Categories include Post Graduate entrance exams like, CAT, UGC-NET, IAS, LAW, GATE, SSC, JEE, etc. Along with Tynker and Gradeup, Byju’s has tied up with many other edtech companies including Aakash Educational Services Ltd., Great learning, TutorVista, Scholr, etc. These enormous mergers will further the unicorn startup to dominate the edtech market in the $180 billion worth Indian education sector.