Edtech: hotter than the Acropolis in August

At the beginning of the week I was in Athens celebrating my birthday. Let’s just say I was born in the 1970s :). I’ve always had an interest in Greek mythology (it was a good choice to read Mythos on the way) and as a man of learning, I wanted to see more of the homeland of Socrates, Plato and Aristotle.  An inspiring and thoroughly enjoyable visit!

News broke of the sale for $1.75B of plagiarism-checker Turnitin, more than the total amount that all edtech startups raised in 2018 ($1.45B) and also one of the biggest edtech deals this decade, beating LinkedIn’s purchase of Lynda, but smaller than the Ellucian deal.  This underlines the growing importance of technology in learning markets. In the meantime, Sanoma Learning is, with the intended acquisition of Iddink Group, emerging as Europe’s leading edtech company, with a couple of hundred million euros of digital/multichannel revenues and more than 300 tech employees.  It’s a hot place to be.  Hotter than the Acropolis in August!

The immediate focus back at the office was the steering of our High Five program.  At the beginning of March we went live with our Next Gen EdTech Team, where we have created one technology team for the whole of Sanoma Learning. It was good to see we are well on track to launch Kampus in Finland & Sweden, and Bingel in The Netherlands.  Overall I feel we are making great leaps forward with High Five!

Then we spent time with the Iddink team in preparing ourselves for finalizing the intended transaction.  There’s a good click between us, which is a great starting point.

At the end of the week we did the monthly business reviews with each of the units. We’re deploying a new stage-gated investment process into new courses and had a couple of very interesting cases from Poland. I was highly enthusiastic about how the team is approaching this and really appreciated to be able to spend time with them to learn more.  Well done!

Looking forward >>

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