Expanding its footprint in the US, Bengaluru-based edtech decacorn BYJU’S has acquired Epic, a digital reading platform for under-12 children, for $500 million. This acquisition will give BYJU’S access to more than two million teachers and 50 million users who are a part of Epic’s global user base.
Anitha Kishore, Chief Strategy Officer at BYJU’S, told YourStory, “There are products that focus on learning by watching or learning by playing for different age groups, and Epic is focused on learning by reading. This, we believe, is a lifelong skill.”
The acquisition mirrors the phenomenal rise the sector has seen since the start of the pandemic. According to YourStory Research, between March 2020 and February 2021, the edtech sector in India witnessed more than 70 deals — becoming the highest-funded sector in 2020, fetching a record $2.2 billion in venture capital.
BYJU’S acquisition of Epic follows other notable M&As that took place recently, hinting at sectoral consolidation.
These include Unacademy buying out PrepLadder for $50 million, and acquiring a majority stake in Mastree for $5 million; Unacademy acquiring a majority stake in TapChief for an undisclosed amount, and scooping up NeoStencil; Vedantu buying out Instasolv; Unacademy pocketing Coursavy for an undisclosed sum; BYJU’S acquiring LabInApp; upGrad acquiring The Gate Academy and Rekrut India, among other deals.
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In an exclusive interaction with YourStory, Simplilearn CEO Krishna Kumar talks about the startup’s mission in education, why the platform kept 60 percent of its business free, and how Blackstone will help it in building for the next stage.
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Before you go, stay inspired with…
Byju Raveendran, Founder and CEO, BYJU’S
“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.”
— Byju Raveendran, Founder and CEO, BYJU’S
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