Scaler Academy, an ed-tech upskilling platform, has acquired an online learning platform Coding Minutes for $1 million (roughly ₹7.48 crores) in an all-cash deal. This is another acquisition for the edtech startup after acquiring Coding Elements in August, the sale value of which was not disclosed. In a previous conversation with BusinessLine, Abhimanyu Saxena, Co-Founder, Scaler Academy, whose flagship product is InterviewBit, noted that the firm intends to make a few acquisitions this year and has set aside more than $20 million for the same.
What is Coding Minutes?
Bootstrapped by Prateek Narang and Mohit Uniyal, Coding Minutes was founded in early 2021 and, within four months of its launch, announced it has registered more than 20,000 learners from 120 countries over their diverse courses. Coding Minutes was begun with a thought to bring a first-class digital education experience for young coders at an affordable price point.
The platform allows short duration courses covering significant concepts across data structures, algorithms, programming languages like Python, C++, Java, version control systems, data science, machine learning and competitive programming.
“One of the things about our journey has been that we have to turn down 70 per cent of the people who were applying to Scaler. This was because we were only running the courses for people with an intermediate level of skills. But given the massive talent crunch in the ecosystem, there is also a need for reskilling for people who either want to switch careers or are studying. We felt Coding Minutes can add value in teaching people in the zero to one level,” Saxena said.
From next month on, Scaler will formally begin the intake of people at the beginner level. The team will also be working on creating very affordable or free content for broader distribution. Coding Minutes gives pre-recorded lectures along with doubt support. The company onboards instructing assistants to provide doubt support to the students for ₹5000 to ₹10,000 fees. According to Narang, Coding Minutes spends 20 percent to 30 percent of the company revenue on such teaching associates. Further, the four instructors who record the lectures also earn a monthly recurring income from course sales.
With Scaler, Coding Minutes expect to extend its hiring pipeline because many students on the platform who come from Tier 3 cities do not get several job opportunities. 70 percent of the students on Coding Minutes are told to be from India. Coding Minutes has recorded 6 million minutes of watch time across all their courses. The e-learning platform is also projected to touch an ARRR (annual revenue run rate) of ₹1 crore in the current financial year.
Coding Minutes will become a part of Scaler and will continue to make pocket-friendly specialised courses for newcomers as part of the acquisition. Prateek Narang has entered as the Engineering Lead & Instructor for Scaler Academy, and Mohit Uniyal has been associated as the Instructor for Scaler Data Science & ML Program.
Narang added, “When we launched Coding Minutes, our vision was quite similar to Scaler. We wanted to empower the masses with industry-ready tech skills without spending heavily on educational degrees. Mohit and I strongly believe that we can add more value to students’ lives after this acquisition and help them crack great opportunities given Scaler’s strong industry connect. Together we can accelerate the pace at which Indian engineers and techies contribute to the larger global technology ecosystem.”
Skill Enhancement Platform
Started in 2019, Scaler Academy is a skill enhancement platform for tech buffs and raised $20 million in Series A investment driven by marquee investors such as Sequoia Capital, Tiger Global, and Rocket Internet, among others, in January 2020.
To increase its offerings, the company have newly introduced the data science & machine learning program and a subscription-based lifelong career accelerator called Forever. Now, Scaler has over 650 employees and 1,000+ mentors and teaching partners on the platform to connect the tech talent gap in India. So far, more than 8,500 learners have registered Scaler’s educational programs.