Quizac Gets Acquired by Tekedia Capital, Seven Days to Shutdown

Surprisingly, Quizac, an innovative edtech startup, has been acquired by Tekedia Capital just days before its scheduled shutdown. 

The acquisition comes as a lifeline for Quizac, which faced significant challenges in monetization despite attracting nearly 13,000 learners since its inception in 2019. 

Both Quizac and Tekedia Capital have chosen not to disclose the financial details of the deal, which was finalized in less than a week, according to co-founder Tade Samson.

The Rise and Challenges of Quizac

Founded by Tade Samson, Tobi Awogbemi, Hussein Alayo, and Babatunde Caleb, Quizac aimed to revolutionize education in Africa by creating gamified learning content tailored for the continent’s students. 

The startup leveraged a network of contributors to produce engaging educational materials that appealed to young learners. 

In 2021, recognizing the potential for growth, Quizac expanded its offerings to corporate organizations, providing training solutions designed to enhance employee learning and engagement.

Despite these efforts, Quizac struggled with monetization. 

While the startup initially focused on individual learners, it eventually identified corporate users as a more lucrative customer segment. 

However, the transition was not enough to sustain the business, leading the team to make the difficult decision to shut down operations. 

The acquisition by Tekedia Capital not only saves Quizac from closure but also provides an opportunity for its technology and educational model to thrive within a larger ecosystem.

Tekedia Capital: A New Home for Quizac

Tekedia Capital, known for its diverse portfolio of startups such as OurPass, Mecho Autotech, and Vetifly, is a sector-agnostic investment syndicate that focuses on nurturing innovative companies across various industries. 

The firm also runs several educational initiatives, including the Tekedia Mini MBA, which aims to empower entrepreneurs and business leaders.

The acquisition of Quizac aligns with Tekedia Capital’s mission to integrate advanced learning technologies into its offerings. 

In a statement, Tekedia Capital expressed its commitment to enhancing the educational experience for learners. “We will bake Quizac technology into the core engine of Tekedia, offering learners an immersive experience,” the statement read. 

This integration aims to gamify the pursuit of entrepreneurial capitalism and equip learners with the tools necessary to navigate market challenges.

Read Next: The Startup that Turned Down $250k is Shutting Down

A New Beginning for Quizac

Following the acquisition, Quizac’s founders will exit the business, although the existing team will remain to facilitate a smooth transition. 

Tade Samson, reflecting on the acquisition, stated, “They say all good things must come to an end, but for Quizac, this is more of a new beginning. With this acquisition, I am confident that Quizac will not only continue to fulfill its mission but also expand into broader markets, helping to transform learning beyond Africa.”

Samson’s optimism highlights the potential for Quizac’s technology to reach new heights under Tekedia Capital’s guidance. 

By leveraging Tekedia’s extensive data assets and resources, Quizac is poised to enhance its educational offerings and reach a wider audience, ultimately contributing to the transformation of learning experiences across the continent and beyond.

The Future of Edtech in Africa

The acquisition of Quizac by Tekedia Capital underscores the growing interest in the edtech sector in Africa, where innovative solutions are increasingly recognized as essential for addressing educational challenges. 

As the continent continues to embrace digital learning, the integration of gamified educational content into mainstream platforms could play a significant role in enhancing engagement and learning outcomes.

With Quizac’s technology now part of Tekedia Capital’s ecosystem, the future looks promising for both the startup and the broader edtech landscape in Africa. 

As educational needs evolve, the collaboration between Quizac and Tekedia Capital may pave the way for new initiatives that further enrich the learning experience for students and professionals alike. 

Lastly, the acquisition of Quizac by Tekedia Capital not only prevents the shutdown of a promising edtech startup but also marks the beginning of a new chapter that could redefine educational engagement in Africa and beyond.

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