Amsterdam-based StuDocu (known locally as StudeerSnel), an online platform for students to share knowledge, has acquired its German equivalent Studybees.
Founded in 2013, Studybees is an ed tech start-up offering online content for German college and university students in the fields of business administration, economics and law, and exam preparation. It claims to reach 100,000 students every month.
Studybees’ co-founder Julia Koper said: “We are very happy that we found a partner who shares our mission to help all students become successful in their studies, and in life. With this shared ambition and StuDocu’s proven track record we know Studybees and our users will be in good hands.”
StuDocu’s co-founder and chief executive Marnix Broer, added: “Germany is one of our key markets where we see very promising growth. Being able to add the high-quality, course-specific content from Studybees to our German offering and welcoming 100,000 students a month, will accelerate this growth significantly. Besides that, we are thankful to have the founding team of Studybees with all their relevant experience staying on as advisors.”
Last year, StuDocu raised $50 million in a Series B round from venture capital firm Partech to help its international expansion. The company said it caters to 20 million students from 2,200 universities in 60 every month.
Broer added: “We use a freemium model, which means that 80% of our documents are freely accessible to anyone and the top 20% content with the highest quality is premium, which means they are behind a paywall. However, students can view these premium documents also by uploading their own study materials, so they don’t have to pay. Although we use very student-friendly prices for our subscriptions, our business is doing very well.”
Date published: 4 April 2022