Teachable, the edtech platform that allows anyone to affordably create and sell online courses, has been acquired by Hotmart, a global platform for online courses. Terms of the transactions were not disclosed but sources close to the transaction have indicated that the transaction amount was approximately $250M.
Founded in 2016 by Ankur Nagpal and Conrad Wadowski, Teachable had raised $12.5M in reported equity funding. Investors in the company include Accomplice, Naval Ravikant, Learn Capital, Winklevoss Capital, E-Merge, Maiden Lane Ventures, Matt Brezina, Ding Zhou, and Billy Draper. AlleyWatch chatted with Nagpal after Teachable’s Series A round in 2018.
Teachable earned $21M in revenue in 2019 and is on pace to do $25M this year, making the reported transaction value 10x revenue. The company charges a monthly fee to use the services and depending on the client’s plan level, takes a small cut of sales. The company will continue to operate under the Teachable brand with Nagpal leading the company.
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