Course Hero acquires LitCharts, founded by the creators of Sparknotes – TechCrunch

I admit it: I was a student who taught my teacher that half of our English classes, including me, “read” using Sparknotes Twelve nights By Shakespeare instead of actually reading the text itself. This site, which provides cliff notes and book summaries chapter by chapter, was the best way to review a novel before a quiz. A book in the first place.

With history in mind, it makes sense that the creators of Sparknotes, everyone’s favorite procrastination tool, are paying attention to the edtech unicorn. A derivative of Sparknotes, Litcharts was scooped up today by the newly created edtech unicorn, Course Hero. The price of the transaction has not been disclosed.That said, the course hero is the last $ 80 Million Series B in August 2020, And perhaps some of that check went to this deal.

Sparknotes creators Ben Florman and Justin Kestler created Lit Charts as an extension of their first success. LitCharts provides notes, definitions and translations for over 2,000 literary texts. Like Sparknotes, LitCharts aims to make complex passages less complicated. Grauer estimates that about 30% of LitCharts subscribers are teachers and educators.

“We make sure we have the best solution for a particular area and can make really genuine recommendations for other tools or products that may help you at the right time. I want to [as a student]”Glauer said, of course, the long-term ambition of the hero. That webbing, or student connection from one resource to another, can be one of the benefits of virtual education. This is because there is essentially a history log of all the errors, trips and pauses that students encounter while taking lessons.

According to founder Andrew Grauer, the heart of Course Hero is to create a very high level of specificity question and answer platform for students. Sell ​​subscriptions to students and unlock access to all learning and educational content, including course-specific materials created by teachers and publishers. Not surprisingly, most of Course Hero’s strategy is to provide material on common subjects that students are struggling with. English is one of those subjects.

“We’ve been looking at the data on the platform. We’re looking at where students are actually most stuck, where they need the most help, and where they ask the most questions,” Grauer said. I am. “And it’s very informative.”

The company has been building a literature library for the past 5-6 years. With LitCharts under its wings, Course Hero is investing heavily in a literary library packed with notes about videos, illustrations, and text.

This is the second acquisition of Course Hero in the last eight months. During October Course Hero Acquires SymbolabAn artificial intelligence-powered computer that helps students answer and understand complex math questions. The deal will help strengthen Course Hero’s math offerings, and today’s acquisition should help Course Hero deepen its bibliographic resources. Both of these brands will continue to operate independently. According to Grauer, this choice is part of his management paper to support “distributed empowerment of entrepreneurs.”

“If you centralize everything, it may have power. [since] Everything looks the same, but when you run it many times, you can actually move slowly and optimize for so many small specific use cases that you move fast and make decisions. , I can’t move forward towards my goal. “He said. The two recent startups acquired by Course Hero have been in operation for over a decade, and Grauer believes it’s worth keeping their size and brand power, rather than forcing them into a comprehensive brand. I will.

On a variety of platforms, Course Hero predicts that it will grow from 1 million subscribers last year to 2 to 3 million paid subscribers this year.

Course Hero acquires LitCharts, founded by the creators of Sparknotes – TechCrunch Source link Course Hero acquires LitCharts, founded by the creators of Sparknotes – TechCrunch

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