According to recent reports, Brightchamps, a Flipkart co-founder, Binny Bansal backed ed-tech startup is known to have acquired Schola, Singapore-based communication and English learning platform, for a total sum of about 15 million dollars in cash and stock deal.
Not just that, all of Schola’s employees including its core founding team have been retained after the purchase, Brightchamps co-founder and CEO told in an interview. Moreover, as a matter of fact, Bhushan also said that this acquisition would surely be helpful for the platform in adding English an speaking and communications vertical, a segment that is focused on helping it scale faster in its key markets especially Southeast Asian countries such like Indonesia, Thailand as well as Vietnam.
“Brightchamps started with the Middle East, went into Southeast Asia, and then expanded to North America, but more than half of the business is from Southeast Asia, so we have a better understanding of that market and then we realized that in that market, a lot of countries like Vietnam and Thailand have a language barrier and as people join global workforce, speaking English becomes vital,” Bhushan told Moneycontrol.
“Schola is focused on that and the founders of Schola are from Vietnam and Singapore and so they have a deep understanding of the market,” Bhushan added.
In addition to this, founded by former senior Facebook executives, Nhu Tran Le Thanh as well as Aditya Gupta, Schola is known to offer a variety of different courses in a live, one-on-one class model for kids between 4 to 15 years of age in order to build necessary skills. Also, the company is said to offer its classes in about 12 countries currently and looks forward to expanding its reach soon.
Moreover, this acquisition comes just a few months after Brightchamps had said that the company will earmark as much as 100 million dollars for just mergers as well as acquisitions next year. Bhushan also mentioned that the company would surely explore acquisitions to expand to new geographies and verticals to generate user growth.
Furthermore, Brightchamps, founded back in 2020 by Bhushan, simply claims to have its operations in not less than 30 countries including UAE, Canada, Indonesia, the US, and more. The firm runs a platform to teach coding, robotics as well as financial literacy to kids aged 6-16 years.
Reading so far, I hope you must have gotten a fair insight into Brightchamps acquiring Schola, a Singapore-based start-up for 15 million dollars, and by now I believe you will be able to decide on your own whether or not you think it was the right thing to do and what do you think will be their next step!
In conclusion, what are your thoughts on Brightchamps acquiring Schola for 15 million dollars? Do let us know in the comments area below. To know more about such reports, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!
Also Read: Water purification startup Drinkprime raises Rs. 60 crores in funding!
