Encyclopaedia Britannica Inc, publisher of the Merriam-Webster dictionary and educational technology company, will conduct an initial public offering (IPO). Bloomberg writes about this. Britannica has been published since 1768 and is considered the oldest English-language encyclopedia.
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The company expects to receive a market valuation of $1 billion. IPO is scheduled for June.
The publishing house, acquired in 1996 by investor Jacob Safra, has in recent years moved from printed encyclopedias to digital publications and online learning.
Its subsidiaries include Britannica Education and Melingo AI, an artificial intelligence-powered language processing platform used for language learning.
More than seven billion pages of Britannica products are viewed annually and used by more than 150 million students.< /p>
According to the results of 2022, the company’s revenue amounted to almost $100 million.