Bengaluru-based Masai School said it was a cash and stock deal, but did not disclose details of the financial terms.
“We are not disclosing it at the moment. It has a few milestones linked to it,” cofounder Prateek Shuka told ET.
“The acquisition will help strengthen Masai School’s existing curriculum by introducing comprehensive learning programmes on UI & UX design, and product management, taking the company from a coding-centric to a career-focused learning platform,” it said in a press statement.
Design Shift will continue to operate under its own umbrella after the acquisition, according to the statement.
Masai School is aiming to make design education a “multidisciplinary aspect through this acquisition”, Shukla said.
“Most design aspirants did not possess industry-relevant skills, posing a challenge for companies to find the right talent. Our aim was to enable aspirants with the right skill set, and focus on the actual science of design and the role of human intervention,” Design Shift Academy cofounder Sudhir Mor said.
Ankur Pahwa, partner and national leader – consumer internet at EY, said this was the right move for Masai School.
“It’s helpful for them to differentiate themselves from the others who are focused solely on coding. It’s creating a stronger ethos for the person who’s learning coding. It builds a good integrated package and improves employability as well,” Pahwa said.
The company has raised around $8 million so far from investors including Omidyar Network India, Unitus Ventures and India Quotient.
Masai School is valued at around $25 million, Shukla said. “We are on track to do close to $1 million MRR (monthly recurring revenue) in the next six to eight months. Currently we are on track to do close to $200,000 from a monthly revenue perspective,” he said.