TinyTap, an Israeli edtech startup, has been acquired by the Hong Kong based gaming startup Animoca Brands. Animoca is a unicorn – a startup with over a $1 billion valuation – and so it clearly has the resources for such an acquisition.
The deal is for an 80.45% share of the issued capital of TinyTap Limited for a consideration of $38.875 million in cash and shares. Animoca Brands now holds an 84.13% stake in TinyTap.
Founded in 2012, TinyTap is the first mobile platform for making, sharing, and playing educational games. TinyTap is a user-generated content (UGC) educational technology company that provides a no-code platform enabling educators to create and distribute interactive educational content while earning a usage-based revenue share.
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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.
The company has raised $13 million from investors including Aleph Venture Capital, Inimiti, Reinvent VC, Omega Group Enterprises Ltd., Radiant Ventures HK, including Animoca Brands and others.
Animoca Brands is a provider of gamification and blockchain and holds a large portfolio of over 200 investments in NFT-related companies and decentralized projects contributing to building the open metaverse. Founded in 2014, It develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP, and Formula E. The company has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay and Pixowl.
Yogev Shelly, CEO of TinyTap, said, “Since inception, TinyTap has worked to free educators from the limitations of traditional education systems and inadequate budgets. We empower educators to create engaging learning activities that can reach millions of kids directly and that enable them to earn based on the success of their creations. By becoming a part of Animoca Brands, we will leverage blockchain to advance this vision and build a new education system that is independent of schools and governments, and that is owned and led by educators themselves.”