Teachmint hires team of Teachee's Indian arm
By Abha Lohia ·
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AcquisitionBengaluru
- Teachmint took over the Indian team of Teachee, a startup based in Singapore, in what is called an acqui-hire (buying a company mainly for its people)
- This was the second purchase Teachmint made in December 2021, following the Teachmore deal
- The terms of the deal were not shared publicly
What happened
- Teachmint acquired the Indian arm of Singapore-based Teachee.
- It is an acqui-hire, meaning the main prize is the team.
- It followed the Teachmore purchase within days.
Terms in this story
- Startup: A startup is a young company built to find a new way of doing something and to grow fast, usually by serving many customers at low extra cost. India's government also has a narrower legal definition that decides who gets scheme benefits.
- Acqui-hire: An acqui-hire is a deal in which a company buys a startup mainly to get its people, not its product. The product is often wound down, and the team joins the buyer.
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