Parent to kindergarten contact app and platform LiveKid has acquired its largest competitor in Spain, Dinantia in an all-cash deal. Considering that the Polish startup had raised a ‘mere’ $2.4 million in a seed round announced last August, and all-cash buyout estimates to be valued at several million dollars, including the final earn-outs, this type of deal speaks highly not only of Livekid’s service but the revenues it's able to generate therein.
LiveKid was founded by Jakub Pawelski and Mateusz Kulesza and provides a platform that facilitates communication between parents and early educators. Children’s needs, absences, and/or food preferences can all be communicated, and parents receive updates throughout the day via photos and videos provided by educators.
The startup counts over 250,000 monthly users across Europe and South America, which, according to the company account for transactions via the platform in excess of $81 million per year.
On the acquisition, Pawelski commented, “We had been looking closely at a number of players on the Spanish market. The choice was determined by several factors: the size of the Dinantia company, its extensive customer base, low churn and the profitability of our existing competitor.”
The Dinantia purchased marks the third for LiveKid, who clearly aren’t done yet, as Pawelski added, “Now we are scanning other markets for future acquisitions as well as a suitable financial partner in order to consolidate the whole European market.”