Edtech Giant BYJU’S Acquires US-based Edtech Startup Epic For $500M
BYJU’S, a Bengaluru-based edtech decacorn, has acquired Epic, a US-based digital reading platform for children aged 12 and under, for $500 million.
As part of the deal, BYJU’S will get access to more than two million teachers and 50 million children who are part of Epic’s existing global user base, helping BYJU’S expand its US footprint.
Speaking on the development, Byju Raveendran, Founder and CEO of BYJU’S, said,
“Our partnership with Epic will enable us to create engaging and interactive reading and learning experiences for children globally. Our mission is to fuel curiosity and make students fall in love with learning. Knowing that Epic and its products are rooted in the same mission, it was a natural fit. Together, we have the opportunity to create impactful experiences for children to become life-long learners.”
Started by Suren Markosian and Kevin Donahue, Epic is currently one of the largest digital reading services for children and is used in almost every school in the US. The Us-based startup has over 40,000 books and over 300 publishers on the platform.
Coming back to the development, both the co-founders will remain in their roles and continue carrying out Epic’s mission to unlock the potential of every child through reading.
Anitha Kishore, Chief Strategy Officer at BYJU’S, said that edtech decacorn is now looking to make a revenue of $300 million from the US market in the coming year and also plans to invest $1 billion in North America, with a focus to accelerate its growth in the region.
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