EasyA, the developer education platform reported by FF News to have 1.3 million users, has reached a $1.1 billion valuation without raising traditional venture capital.
The company, founded in 2019 by brothers Philip and Dominic Kwok as a developer-education business started from the founders' childhood bedrooms.
It makes its platform free to users and generates revenue instead from corporate partners such as Google and Ripple, which pay to reach developers through contracts reported to range from mid-six figures to mid-seven figures.
EasyA distributes its mobile coding-challenge app through more than 350 academic institutions, and has broadened its focus from blockchain development to AI applications and AI-agent projects.
The $1.1 billion figure was produced by an independent third party that assessed audited financial statements, operating performance, growth plans and comparisons with public companies, and it reflects a private valuation rather than a market-set price.
EasyA confidentially submitted a draft Form F-1 registration statement to the SEC on September 25 for a proposed direct listing of its shares.
This is a structure that typically lets existing shareholders sell shares publicly without the company raising new capital in the offering.
The company has also completed two years of audits in preparation, and is targeting a direct listing in the first half of 2027, with a possibility of making its shares available in tokenized form from the first day of trading.
