Private Equity Fund Investments
Blackstone to acquire majority stake in skilling firm Simplilearn for $250-M
US-headquartered Blackstone Group is to acquire a controlling stake in Bengaluru-based edtech startup Simplilearn Solutions Pvt Ltd for USD 250 million (about INR 1,870 crore). VC investors in Simplilearn - Kalaari Capital, Helion Venture Partners and Mayfield Fund - who have invested USD 28 million for an over 50% stake in the company, are exiting with a return of 6-15 times their investment. Founded in 2010 by its CEO Krishna Kumar, Simplilearn is an online learning ‘bootcamp' based offering digital skills training and courses to working professionals all over the world. Profitable for the fourth year in a row, the platform offers over 100 programs to help early to mid-career professionals acquire digital skills across Cloud, DevOps, Data Science, Artificial Intelligence & Machine Learning, Digital Marketing, Cyber Security and many more. Simplilearn offers programs in partnership with top global & Indian universities such as Caltech CTME, MIT Schwarzman College of Computing, UMass Amherst and the Isenberg School of Management, Purdue Online, Jagdish Sheth School of Management and IIT Kanpur and companies such as IBM, Microsoft, Amazon, Facebook and KPMG. More than two million professionals globally have used Simplilearn to date.
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