Chegg, Inc. (NYSE: CHGG), a student-first connected learning platform, has acquired Busuu, a language learning platform. Busuu offers courses in 12 languages to over 500,000 paying subscribers in over 160 countries.
Busuu is a content-focused education platform intended for users that are serious about learning a new language. The firm operates via free and paid subscriptions on a monthly, annual and bi-annual basis. Busuu provides a combination self paced courses designed by its in-house team with instant feedback from a community of native speakers.
Chegg expects Busuu’s full year revenue in 2021 to be $45 million with year over year growth of over 20%. The deal is expected to be worth $436 million in an all cash transaction.
“This partnership will give us an opportunity to leverage Chegg’s tremendous reach to fuel our expansion, particularly in the US,” said Bernhard Niesner, CEO & co-founder of Busuu. “Our vision is to empower everyone in the world through languages, and we believe our relationship with Chegg will enable us to achieve this goal even faster.”