Perdoceo Education, an academic institution offering a quality postsecondary education primarily online to a diverse student population, along with campus-based and blended learning programs, has recently announced that it has acquired Coding Dojo, a Bellevue-based global education technology company.
According to Perdoceo’s annual report filed on Thursday, it completed the purchase on Dec. 1, with a preliminary purchase price of $64.9 million that includes an initial $52.8 million cash payment, “as well as an estimate of the fair value of contingent consideration of $12.7 million and estimated post-closing working capital adjustments.” Part of the post-closing contingent consideration payment will be made in early 2024 and the rest in early 2025, up to a total maximum payment of $15 million based upon achieving specific financial metrics.
Founded in 2013 by Richard Wang and Michael Choi, Coding Dojo offers a three-full-stack coding bootcamp, full-stack part-time programs, and courses on data science and other emerging technologies. The company aims to train students to become self-sufficient tech professionals, support underserved communities, and increase diversity in the tech industry. The platform is dedicated to helping students realize their potential through digital literacy and technical skills training.
The startup is proud to have a diverse group of business, tech, data, and design leaders offering transformative courses that adapt to industry innovations and employer demands. As part of this global network, one can lend full-time or part-time expertise to industry-leading classes, workshops and events. Its vision is to become the digital literacy school of the world by democratizing and proliferating in-demand 21st-century digital skills for all.
This acquisition provides us with new resources and better capabilities to reach students in more states and countries than ever before! We can’t wait to see what the future holds and look forward to continuing our mission of transforming lives through digital literacy. Coding Dojo will maintain its day-to-day operations and strengthen its brand and employee base. The company has around 700 employees, according to LinkedIn.
Coding Dojo shifted to an online-only business when the pandemic hit but has reopened some physical locations. The firm now describes itself as part of Colorado Technical University. It no longer operates physical offices.
Perdoceo’s regionally accredited institutions – Colorado Technical University (“CTU”) and the American InterContinental University System (“AIU”) – provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels. It offers students industry-relevant and career-focused degree programs that are designed to meet the educational needs of today’s busy adults. CTU and AIU continue to show innovation in higher education, advancing personalized learning technologies like their intellipath® learning platform and using data analytics and technology to support students and enhance learning. It is committed to providing quality education that closes the gap between learners who seek to advance their careers and employers needing a qualified workforce.
Headquartered in Schaumburg, Illinois, Perdoceo Education has approximately 4,000 full- and part-time employees nationwide. It reported $695.2 million in total revenue and a net income of $95.9 million last year.
In June 2022, Coding Dojo raised $10 million in non-dilutive venture debt financing from Eastward Capital Partners.