Top Hat, a startup that digitizes textbooks and turns them into an interactive expertise for faculty college students, introduced on Wednesday that it has acquired yet one more enterprise: Fountainhead Press. The acquisition marks Prime Hat’s third scoop of a publishing firm previously 12 months.
Consolidation goes to be enormous within the subsequent few years for edtech, as greater gamers elevate sufficient financing (and acquire income) to have the ability to afford different companies.
Prime Hat’s entire enterprise proposition is a subtweet to Zoom College: It desires to make studying an energetic, on-line expertise and fully digital. That focus has allow them to attain 3.5 million college students and hundreds of universities. With a brand new acquisition, Prime Hat is bringing extra content material into its fold, and with it, extra prospects who want a greater answer to a dusty textbook.
I caught up with Prime Hat CEO and founder Mike Silagadze to know what has triggered this string of content material acquisitions. Whereas the M&A isn’t tech-focused, we are able to study how a well-funded edtech startup is navigating the early innings of 2021.
We’ll speak concerning the shift from offline to on-line, edtech’s consolidation atmosphere and why the “promote to Pearson or bust” mindset would possibly formally be out the door for the sector.