This acquisition is valued at US$38.875 million in cash and shares and increases Animoca Brands ownership from a mere 3.73% to 84.13%, giving them majority ownership of TinyTap.
TinyTap which is a user generated content (UGC) educational technology company that provides a no-code platform for educators to create and distribute interactive educational content while earning a usage-based revenue share.
Whats Next? Animoca Brands CEO, Yat Siu and TinyTap CEO, Yogev Shelly were both in a video explaining the acquisition.
TinyTap was founded in 2012 and currently employs 30 staff. The company has raised US$13 million from investors including Aleph Venture Capital, Inimiti, Reinvent VC, Omega Group Enterprises Ltd., Radiant Ventures HK, including Animoca Brands and others.
What is TinyTap?
TinyTap provides a code-free platform that empowers educators to create and share interactive educational content and to receive a revenue share when that content is used by learners. Creators can create TinyTap content and activities on iPad or the TinyTap website. TinyTap is available on iOS, Android and web platforms.
More About The Acquisition
TinyTap Limited, the entity that operates as TinyTap is incorporated in Israel.
Animoca Brands issued 2,289,395 fully paid ordinary shares at a price of A$4.50 per share as well ass cash consideration totaling US$27,181,033 (net of amounts payable to Animoca Brands and its controlled entities of US$4,335,083)
Other shareholders of TinyTap include Mario Ghio and Guilherme Mélega, respectively the CEO and the vice president – K12 of Somos Educação, which is part of the Brazilian high-growth K-12 education company Vasta Educação group (NASDAQ CM: VSTA), as well as current and former TinyTap team members.
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