Byju's aquires US-based reading startup Epic for $500m
Byju's, India's most valued internet company, said on July 21 it has acquired US-based reading platform Epic for $500 million, continuing its spree of large acquisitions to expand its education services beyond the Indian market and across categories.
Epic is built on a collection of over 40,000 popular, high-quality books from 250 of the world's best publishers. Its recommendations are customised to the child's interests and parents can track progress and see the time spent in reading. It also has original stories which will appeal to kids. The cash and stock breakup of the deal was not specified.
"Epic's model for inspiring the next generation through interactive reading is in lockstep with our mission to help millions of children become life-long learners," said Anita Kishore, Chief Strategy Officer, Byju's.
Byju's said it will invest a billion dollars in North America and considers the region one of its most lucrative markets. This is not Byju's first foray into the US. In 2019 it acquired educational games-maker Osmo, another US-based firm for $120 million.