Report: “India’s BYJU’s Buys Reading app Epic for $500 Million”

From Protocol:

Indian educational software giant BYJU’s has acquired the Bay Area-based reading app maker Epic (not to be confused with Epic Games) in a stock and cash deal valued $500 million. Epic will continue to operate as a standalone service, and its two co-founders, Suren Markosian and Kevin Donahue, as well as their staff of 160 will all join BYJU’s.

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From VentureBeat/GamesBeat:

The acquisition is a combination of cash and stock, and it makes for a great payday for the founders of Epic (nothing to do with Fortnite maker Epic Games), Suren Markosian and Kevin Donahue, who started the company in 2013. I knew Markosian as the cofounder of Crowdstar, the social game company that created titles like Design Home before being acquired by Glu Mobile, which was then acquired by Electronic Arts. After leaving Crowdstar, Markosian moved right on to Epic.

Markosian and Donahue made a reading platform for digital devices like iPads that they hoped would help their children learn to read. They wanted to create something that at its heart was fun, as opposed to just being a digital version of a book.

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