Codecademy Gets Acquired for $525 Million by Skillsoft
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Codecademy Gets Acquired for $525 Million by Skillsoft
Launched in 2011 with an in-browser coding experience, Codecademy has now over 40M learners.
Codecademy, which teaches learners how to code, has been acquired by Skillsoft for $525 million in cash and stock.
The company went viral in 2011, because it taught coding basics interactively within the browser itself. This was around the time MOOCs appeared on the scene.
Codecademy’s in-browser code editor in 2022Within 72 hours of launching, it acquired 200,000 learners, and a few months later, it raised $2.5 million. Last year, the company raised $40 million for a total of $87.5 million in funding.
In 2017, they launched a subscription, Codecademy Pro. Initially, only course exercises and projects were made part of the subscription, while conceptual lessons remained free-to-access. Now, about half of Codecademy’s 130+ courses are only accessible to subscribers. Codecademy Pro costs $39.99 per month, or $19.99 per month if paid annually.
Like MOOC providers, Codecademy has been eyeing the lucrative enterprise market.
Currently, the company makes $50 million dollars in recurring revenue and has over 40 million registered learners.
Dhawal Shah
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