South Korea-based artificial intelligence education company Riiid has acquired its Japanese distribution partner Langoo, TechCrunch has reported.
Langoo offers Riiid Tutor, a test preparation app for the TOEIC English-language proficiency test in the region.
Riiid stated that more than 2.5 million users have downloaded the Riiid Tutor app in South Korea and Japan.
Riiid’s co-founder and chief executive YJ Jang said: “The exceptional capacity of Langoo in its local business with Riiid Tutor was the main reason for this acquisition. Riiid’s strength is our scalability and ability to apply our technology anywhere, regardless of regions, languages and domains. By leveraging this investment, we will capture broader Japanese market opportunities. This acquisition is the first step in an inorganic strategy to ultimately apply Riiid’s AI technology to the global market and help more learners around the world.”
Date published: 11 October 2021