Baims' Orcas Takeover: Step Towards Educational Excellence in the Middle East
Baims, an education technology company, has revealed its move to acquire Orcas EdTech, signaling a consolidation to capture the US$100 billion education market in the MENA region.
The 100 percent acquisition deal between Baims, founded by Yousef AlHusaini & Bader AlRasheed, and Orcas, founded by Hossam Taher & Amira El Gharib, has garnered widespread attention. The newly consolidated company, backed by an investment of over US$11 million from leading investors such as Access Bridge Ventures, Algebra Ventures, NFX Ventures, and others, is to become the leading EdTech player in the MENA region.
Regional EdTech Dominance
In response to the evolving educational landscape in the MENA region towards hybrid learning models, Baims and Orcas aim to provide comprehensive education solutions, covering both synchronous and asynchronous formats. This strategic move positions Baims as a dominant player, uniquely addressing the challenges faced by students in the region.
Yousef AlHusaini, CEO of Baims, emphasised the significance of the acquisition, stating, "By acquiring Orcas Tutoring, we are not just expanding our reach; we are redefining the EdTech landscape in MENA. This consolidation enables us to offer a comprehensive learning experience, combining our online tailored recorded courses with Orcas Tutoring's personalised one-to-one tutoring platform."
Product and Market Expansion
Baims, known for its online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan, sees the acquisition of Orcas as a strategic move to enhance their offerings. Orcas' personalised tutoring services will be seamlessly incorporated into the Baims platform, creating a well-rounded and adaptable educational experience for students across the MENA region.
Hossam Taher, CEO of Orcas Tutoring, expressed their vision, stating, "Our aim is to establish product and market synergies by introducing personalised K12 tutoring services in the GCC and subsequently expanding our portfolio to cater to the diverse needs of university students."
Expansion in MENA with Focus on Saudi Arabia
While expanding in the GCC is part of Baims’ plan, a primary focus will be on the rapidly growing Saudi Arabian market. With Riyadh recognised as the future startup hub of the region, Baims aims to solidify its presence, capitalising on its dominant market share in Saudi Arabia. The company plans to launch a specialised AI-driven test preparation product and expand its offerings by incorporating one-to-one tutoring services, demonstrating a commitment to addressing the specific needs of students.
A Stronger Team with Solid EdTech Experience
The consolidation brings together seasoned professionals with over 35 years of combined experience in the EdTech space. Hossam Taher joins Baims as Chief Strategy Officer, Amira El Gharib as Chief Operations Officer, Shams Adly as Chief Marketing Officer, and Mohammed Khalaf as Chief Technology Officer, strengthening the leadership team.
Shareholders Upside & EdTech Sector Potential
The acquisition has garnered support from investors who recognise the potential of the consolidated entity in transforming education in the MENA region. Issa Aghabi, Managing Partner at Access Bridge Ventures, commented, "Today marks a monumental day for EdTech in the Middle East and the globe." Abdullateef AlThuwaini from AK Holding added, "The acquisition of Orcas by Baims proves once again that EdTech is fast growing in the region."
Unconquered Territory: MENA's US$100 Billion Education Market
Despite its immense potential, MENA's US$100 billion education market remains largely untapped. Bader AlRasheed, Baims co-founder, highlighted the profound impact of education on individuals, stating, "Education is not just about acquiring knowledge; it's about empowering individuals to thrive in the workforce."
Impact on the Employment Market
Baims envisions contributing to job creation in the MENA region. Yousef AlHusaini noted, "Our goal is not only to solve the education problem but also to create more job opportunities in KSA, Kuwait, EG, UAE, and Jordan."
Egyptian Founders Exit Revives Hope
The exit of Orcas founders, Hossam Taher & Amira El Gharib, serves as a beacon of hope for the Egyptian startup ecosystem. Taher remarked, "Our journey with Orcas has been about empowering students and teachers, and with Baims, we see this impact expanding even further."
Baims and Orcas invite the media, stakeholders, and the public to follow this exciting journey, contributing to the transformation of education in the MENA region. This consolidation is a significant step towards realising that vision.
