Byju’s Buys US App Epic For $500 Million
- ByStartupStory | July 22, 2021
Byju’s buys US app Epic for $500 million. Epic is an online reading platform for kids, and with this India’s most valuable internet company takes steps to deepen its presence in the US and expand into other English-speaking markets. The purchase will help the Bengaluru-based online education provider accelerate its overseas expansion plan as well as venture into a new complementary segment—online reading. In 2019, Byju’s bought US-based educational gaming startup Osmo. Byju’s has seen a spike in business since, schools shut down physical classes because of the pandemic, said it will invest $1 billion in North America to help students fall in love with learning.
Epic, which sells subscriptions for a digital library for students under 12 years, will soon be available in India and other English-speaking markets such as Australia, New Zealand and Canada. The transaction follows Byju’s acquiring classroom tutorial chain Aakash Educational Services for $950 million earlier this year. Last year, it bought coding startup WhiteHat Jr for around $300 million. Byju’s has made around 10 acquisitions in recent years. Besides Aakash and Epic, it also acquired tutoring firm HashLearn and doubt clearing platform Scholr this year. Acquiring Epic will help Byju’s expand its US footprint with access to more than 2 million teachers and 50 million kids in Epic’s existing user base, which more than doubled over the last year due to the pandemic.
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