India’s Byju’s acquires US firm for $500m – MENAFN.COM

US india mena byju
UAE
  • Date: 07/22/2021
  • Source: MENAFN
  • Sector: Economy
  • Country: UAE

India’s Byju’s acquires US firm for $500m – MENAFN.COM

(MENAFN - Asia Times) India's leading e-learning platform Byju's continues to increase its footprint in the US with a series of acquisitions. In its latest move, Byju's has bought California-based Epic , a digital reading platform for children. Epic is used by 50 million children , aged below 12, and two million teachers and has a presence across 90% of elementary schools in the US. Its CEO Suren Markosian and co-founder Kevin Donahue will remain in their roles and the acquisition is a combination of cash and stock. Started in 2013, the Redwood City-based Epic now has more than 40, 000 digital books from 250 publishers. It also collects and analyzes real-time data on how many children read a book and their engagement levels. From last year onwards, Epic's growth has been meteoric with its user base soaring from 20 million children to 50 million now. Byju's founder and CEO Byju Raveendran 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