Byju’s acquires digital reading platform Epic for US$500 million
Accelerating its plans to build the world’s largest learning brand, BYJU’S on Wednesday announced that it has acquired Epic, a leading US-based kids digital reading platform, for USD 500 million. The acquisition is intended to support BYJU’s larger strategy of bridging the learning gap among children in the US, an official statement released by the company read.
BYJU’S, a global leader in personalized online learning with 100 million students on its platform, is backed by notable investors like General Atlantic, Sequoia Capital, Chan-Zuckerberg Initiative, Naspers, Silver Lake, Tiger Global and other notable investors.
Byju Raveendran, Founder and CEO, Byju said that the partnership between the two companies will provide them with the opportunity to make children an impactful experience for lifelong learners.
“Our partnership with Epic will enable us to create engaging and interactive reading and learning experiences for children globally. Our mission is to foster curiosity and encourage students to love learning. Knowing that Epic and its products are one It was a natural fit that we are rooted in the mission itself. Together we have the opportunity to create impactful experiences for children to become life-long learners,” added Raveendran India TV.
Read more: General Atlantic BYJU’S . invested 200 million USD in
Byju’s Chief Strategy Officer Anita Kishore also said that Epic’s model is in line with her company’s mission of helping millions of children learn throughout their lives to inspire the next generation through interactive reading. “We welcome Epic’s talented leadership team and employees to the BYJU’S family as we strive to help students love learning around the world,” he added.
BYJU’S said the latest acquisition will help expand BYJU’s US footprint by providing access to Epic’s existing global user-base of more than two million teachers and 50 million children, more than doubling from last year. Epic CEO and co-founder Kevin Donahue Suren Markosian will continue in his roles and continue Epic’s mission to unlock the potential of every child through reading, the release said.
Epic Suren Markosian CEO and co-founder said the acquisition will ignite enthusiasm for learning around the world.
“We created Epic to make quality books more accessible to kids everywhere, and create a safe space for them to discover the joy and magic of reading in their own way. The alignment of our missions and the shared passion BYJU’S makes it an ideal partner, as we believe this acquisition will ignite enthusiasm for learning around the world. Together, we can help empower future generations of children by fostering a lifelong love for reading and learning. are,” Marcosian said.
BYJU’S has aggressive plans for international and U.S. market expansion, and the acquisition with Epic will not only lead to a significant investment in technology that will help create personalized learning for students, but help BYJU’S become a natural part of America’s learning culture. will enable. The company said.
The statement further added that BYJU’S has begun laying the foundation to encourage the playground of active learning through its synchronous and asynchronous learning programmes. BYJU’S Future School, an online live learning platform for math and coding, was released last month, empowering 11,000 female teachers to help them learn these subjects in an engaging and interactive way. BYJU’S acquired Osmo 2 years ago, and the Osmo scale has been seen 4 times since the integration. BYJU’S has integrated Osmo’s computer vision technology into its products to create a magical hands on learning experience combining the best of the physical and digital worlds.
BYJU’S will invest $1B in North America to accelerate its vision of helping students learn. The news follows the recent announcement of BYJU with Disney in the US last month.
Read more: BYJU’S to acquire Aakash Educational Services in $1B deal
.