A spokesperson from the edtech company said, that it is optimizing Whitehat Jr for ‘organic and efficient growth’.
WhiteHat Jr., the edtech coding startup purchased by BYJU'S in 2020, will not be shutting down, according to the media reports.
According to TechCrunch, BYJU'S was planning to close WhiteHat Jr. in order to save costs and get rid of the business unit that has drawn a lot of flak for the Bengaluru-based company.
"We don't have any plans to shut down WhiteHat Jr. "we are simply optimising it for organic and efficient growth" : said a BYJU'S spokesperson.
"At the group level, BYJU'S continuously assesses and improves its business operations with a view to achieving operational profitability and achieving worldwide expansion. All of our business units are being actively evaluated as part of a continuous process to make sure they are in line with our strategy for profitability," the representative continued.
BYJU’S had announced acquiring WhiteHat Jr. for $300 million in 2020. It eventually spent less than $235 million on the deal, TechCrunch noted.