BYJU acquired “Epic” digital reading platform with a $500M deal

BYJU is India’s largest Ed-tech company that you might have heard about million times till now. It was launched in 2011 and now it has become one of the most favorite learning and educational apps for millions of learners. Recently, Byju company has become a $16.5billion worth company. Making it one of the most valuable educational technology companies.

It was founded by Byju Raveendran and Divya Gokulnath. Byju app has helped millions of students in India to better understand concepts and crack competitive exams. Now Byju will be entering the US market.

Based on reports, Byju has acquired a US digital reading platform “Epic” for $500 million. Epic is the gold mine of digital books, audiobooks, and video classes. It is an American kids subscription-based learning and reading platform.

Epic offers over 40,000 ebooks for children ages 12 and under. Children can use this service both on mobile and desktop. This leading digital reading platform was founded by Suren Markosyan and Kevin Donahue. It was officially launched into the US education market in 2014. Epic offers personalized reading for kids based on age and interest among millions of book collections.

Epic app best teaching and learning app that has become a part of India’s leading Ed-tech company Byju. Both the platforms come together on a common mission to make education personalized, interactive and fun. Education is getting better and better throughout the world. Both the platforms are good at what they do so there will be a global raise in education and learners.

Byju’s $500M acquisition was made in terms of both cash and stock. It is the second-highest acquisition made by the company. Previously Byju had acquired Aakash Educational Services for a lump sum amount of $1 billion.

Akash Educational Services are physical coaching centers in India that are more than 33 years old. It is India’s leading educational institute that offers professional coaching for medical and engineering entrance exams in India. Also, they have more than 100 study centers across India. Making it the largest physical coaching institute in India. So it became a valuable asset for Byju, just like Epic.

Byju is on a mission to become a global leader in making education as interactive as possible for students in every corner of the world. As a part of this, Byju made its steps in every opportunity that it could find. Currently, it has successfully stepped into the American education market with the latest deal made with the Epic digital reading platform.

In a recent interview, Byju announced its plans to invest $1 billion in the North American market to increase its growth rate in the next two years. Based on recent stats, Epic has nearly two million teachers and 50 million kids registered on the platform. During the COVID crisis, Epic had an exponential growth in its user base. So it is a goldmine for Byju to make its plans for expanding its influence overseas. Making education and learning more interactive and fun worldwide. Education and technology combined to break the barriers of old-school methods.