Unacademy has announced the acquisition of CodeChef, an online platform for algorithm and coding. The acquisition is likely to help the Facebook-backed firm to launch coding skills vertical for school kids.
While the size of the deal is undisclosed, it’s not clear how CodeChef will be positioned as it was not for a profit venture under its previous owner – Directi.
“Codechef is one of the best platforms in the world for programmers and their vision is aligned to what we do here at Unacademy Group,” said Gaurav Munjal, co-founder, and CEO of Unacademy while announcing the development on Twitter.
CodeChef is an eleven-year-old platform that helps programmers get a foothold in computer programming through active participation via contests. The Mumbai-based company claims to have grown to over 10 lakh programmers globally.
“All our existing programs, contests, etc. will continue to remain exactly as they are, and will only grow better in our new home. This change in custodianship will mean that we have access to greater resources, teams, technology, platforms, and capital,” said Anup Kalbalia, chief executive officer of CodeChef.
This is the second announcement from the Munjal-led company on Thursday. It appointed Sujeet Kumar as a board member. It’s worth noting that Directi and CodeChef’s founder, Bhavin Turakhia, is already a member of the board of directors of Unacademy since 2017.
CodeChef is the second acquisition by Unacademy in 2020. In March, it acquired Kreatryx, an online preparation platform for GATE and the Engineering Services Exam (ESE), in a cash plus stock deal.
In 2018, Unacademy acquired YouTube-focused learning platform WiFiStudy. Entrackr had exclusively reported the development.
Unacademy had recently launched a separate app Graphy with a different founding team. The new app aims to change the way students read books.
Since the Covid-19 crisis has put a lock on educational institutions, edtech companies have been witnessing a surge in usages and adoption. Unacademy has also gained significantly due to fear of the spread of the virus. The company had claimed 82% revenue growth in April as compared to the previous month.
