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Edtech provider Britannica Group, publisher of Britannica encyclopedia and Merriam-Webster dictionary products, is eyeing an initial public offering that could be valued at more than $1B.
Britannica, which now receives the bulk of its revenue from digital products, could hold the IPO as early as 2023. If and when the company lists will depend on market conditions, according to Bloomberg.
Britannica Chief Executive Officer Jorge Cauz told Bloomberg that his company was on track to report nearly $200M in revenue for 2022. He added that the edtech space was highly fragmented, with no one playing holding a stake larger than 2%.
Based in Chicago, Britannica has been publishing educational products for more than 250 years.
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Image and article originally from seekingalpha.com. Read the original article here.