Codecademy

Codecademy is an interactive online platform for teaching 12 programming languages: Python, PHP, JavaScript, Ruby, Java, etc., as well as working with the jQuery library and the markup and design languages ​ ​ of the HTML and CSS web pages.

History

2021: SkillSoft bought Codecademy for $525 million

At the end of December 2021, digital learning company Skillsoft announced a deal worth $525 million to acquire the Codecademy online education platform. The buyer will pay for the transaction with cash (40%) and his shares (60%). It is planned to close it in the first half of 2022.

As of December 2021, Codecademy offers courses in 14 different programming languages, covering a wide range of topics, including cyber security cloud technology, application development, and data science. The service brought about $42 million in revenue in 2021 and has $47 million dollars in applications for 2022. According to Skillsoft estimates, the company's income in FY 2022 could reach $700 million.

SkillSoft acquired Codecademy for $525 million

Codecademy and other digital learning platforms are increasingly partnering with companies to provide technical courses. Skillsoft CEO Jeffrey Tarr said they expect significant revenue synergies when they combine Skillsoft's corporate customer base of more than 12 thousand corporate customers and more than 46 million students, with 40 million Codecademy students.

Since its inception, Codecademy has focused on empowering our students to build inspiring careers in technology. We have helped tens of millions of people around the world learn new technological skills. Together with Skillsoft, we will be able to quickly increase the size of our content library and extend Codecademy to millions of students and thousands of companies, including about 75% of the Fortune 1000 list, which collaborate with Skillsoft around the world. Having gained additional resources and opportunities for growth, we will gladly begin this important activity in 2022, "said Zach Sims, founder and CEO of Codecademy.

Representatives of Skillsoft added that they plan to include their artificial intelligence program in Codecademy's offers, and the ultimate goal is the ability to increase sales and cross-sales through each company's customer base, which is expected to lead to customer growth and revenue synergies. Skillsoft has raised funding from Barclays and Citigroup.^[1]

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