Amazon buys Rohit Agarwal’s TenMarks

The acquisition will be closed in the fourth quarter of 2013.

October 11, 2013 10:17 pm | Updated 10:17 pm IST - CHENNAI:

Online retail giant Amazon has acquired TenMarks, a mathematical education company founded by entrepreneur Rohit Agarwal, in a deal that adds to the clutch of Indian-led technology firms that have been bought out by their bigger American counterparts in recent times.

Mr. Agarwal’s previous venture was TechTribe, an India-focussed tech networking site that was backed by Canaan Partners, but shut down in 2009 due to funding-related issues.

While the financial details of the TenMarks’ acquisition were not disclosed, the company clocked a sizeable turnover last financial year, according to industry insiders.

The acquisition will be closed in the fourth quarter of 2013.

TenMarks, which is based out of California and was initially backed Catamount Ventures and Birchmere Ventures, focuses on helping to maximise teacher effectiveness in the classroom with an emphasis on mathematics.

“TenMarks’s award-winning math programmes have been used by tens of thousands of schools, and Amazon engages with millions of students around the world through our Kindle ecosystem," said Dave Limp, Vice President, Amazon Kindle, in a statement.

“Together, Amazon and TenMarks intend to develop rich educational content and applications, across multiple platforms, that we think teachers, parents and students will love,” Mr. Limp added.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.