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Go1 snaps up speed reading app Blinkist to expand in enterprise learning

Variety

08-05-2023 | 07:28

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Go1 snaps up speed reading app Blinkist to expand in enterprise learning

After raising $100 million at a valuation of over $2 billion last year, the Australian ed-tech startup Go1 is making an acquisition and getting some investment to expand its reach and technology to serve the market of corporate online learning.

First, it is snapping up Blinkist, a startup out of Berlin that had built a platform to discover and read abbreviated versions of longer non-fiction books — “Blinks” that typically take no more than 15 minutes to read or listen to.

Second, while financial terms of the acquisition are not being disclosed by the two companies, but we have confirmed other details with Go1’s co-CEO and founder Andrew Barnes: the acquisition is a mix of cash and shares. And it will also involve Blinkist’s biggest investor, Insight Partners, taking an additional $30 million in equity in Go1 at an “upround,” but again with the exact numbers not being discussed.

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