Simplilearn, a start-up, which provides professional certification courses, has acquired Silicon Valley-based digital marketing training company Market Motive for $10 million (Rs. 63 crore).
Market Move was co-founded by Google’s digital marketing evangelist, Avinash Kaushik. The acquisition will help Simplilearn expand its presence in the U.S. and provide digital marketing courses to working professionals and college graduates. It will offer courses like social media marketing, digital advertising and web analytics.
“The digital marketing ecosystem is at the tipping point and this is the right time for us to expand our products in this hot segment,” said Krishna Kumar, founder and chief executive of Simplilearn. “We are impressed with Market Motive’s enriched content and domain expertise.”
Market Motive was co-founded in 2007 by Michael Stebbins, John Marshall and Avinash Kaushik. It has delivered web-based certification programs to multi-national firms like Microsoft Dell and JP Morgan Chase. The firm will operate as an independent arm of Simplilearn. Stebbins will also join Simplilearn as the chief innovation officer and continue to work as chief executive of Market Motive.
“I see the need for short term certification to put knowledgeable workers in higher paying roles,” said Stebbins. “Degree or not, the economic value of these courses is huge and it is rewarding to see lives changed through the training.”
Navin Chaddha, Managing Director of Mayfield Fund, one of the investors in Simplilearn said that the Market Motive adds a fast-growing online marketing training vertical to Simplilearn as “they meet a demand for e-learning expected to exceed $169 billion by 2018.” Simplilearn which has a network of 2,000 trainers has trained over 400,000 professionals across 150 countries.