Byju’s has recently acquired the rights of US digital reading platform Epic for $500 million. The company focuses on kids who are 12 and younger. This acquisition will provide a push to Byju’s strategy of growing its footprint in the US. It is a part of the Bengaluru-based ed-tech giant’s plan to invest $1 billion in North America.
In the past year, Byju’s has made various acquisitions, which include the acquisition of WhiteHat Jr for $300 million, and Aakash Educational Services for an amount of nearly $1 billion. Two years ago, the company also acquired US-based educational games maker, Osmo for $120 million.
Recently, Byju’s and Walt Disney joined hands to launch a co-branded learning app with the focus on students from kindergarten to class 3.
Byju’s founder and CEO, Byju Raveendran recently stated that the company is transforming the way children are learning to use tech as a strong enabler. It aims to create interactive formats that are interactive. Raveendran further added that the company plans to personalize books that are recommended to kids based on their reading proficiency.
So far, Byju’s has raised around $2.7 billion from investors, much of which was raised in the past year, and the company received a valuation of $16.5 billion in the last round of funding. Raveendran further added that Epic is the largest B2C ed-tech platform for this age bracket within the US.
