McGraw-Hill Education, a learning science company, has taken a €6 million (approximately $6.5 million) minority equity stake in busuu, the world's largest social network for language learning with more than 55 million users.
The transaction includes an agreement that will give McGraw-Hill Education exclusive global rights to distribute busuu to B2B customers, including schools, private language institutions and corporations. Additionally, the two companies will explore adding McGraw-Hill Education's industry-leading adaptive learning technology to busuu products.
Founded in 2008, busuu has been adding as many as 100,000 users each day. The product has a strong market presence in Brazil, Russia, China, Turkey, Germany and the US. The company offers free and paid audio-visual language courses for 12 languages and includes direct interaction with native speakers around the world. Approximately two-thirds of busuu's users access the platform via mobile devices.
