LitCharts is a literature guide that presents a bulleted-list-style summary of every single plot point in the book side-by-side with analysis and color-coded themes for each point.On June 10th, 2021, LitCharts was acquired by Course Hero. The terms of the transaction were not disclosed.
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Latest LitCharts News
Mar 10, 2022
For an undisclosed price, Course Hero has acquired Scribbr , a proofreading and editing service for academic writing. This is Course Hero’s latest deal in a string of buys – including CliffNotes, LitCharts, QuillBot and Symbolab – all powered by a duo of financings that saw the edtech platform valued at $1.1 billion. Founded in 2012, Scribbr says it has an international network of 700 editors that offer a variety of services, from edits, to notes and clarity checks. The deal will help Course Hero expand its footprint in Europe, since Scribbr is a Netherlands-based business. Overall, Scribbr’s focus specifically compliments Course Hero’s 2021 buy of Quillbot, an AI tool that helps clarify writing that feels somewhat reminiscent of Grammarly. Course Hero CEO Andrew Grauer has explained that the mission of his company is to create a question-and-answer platform with extreme levels of specificity for students. It sells subscriptions to students that unlock access to all of its learning and teaching content, which include course-specific material created by teachers and publishers. The startup wants to be subject-agnostic, meaning that it can connect students to any specialty that they need advice in, whether it’s a niche grammar rule or a one-off algebra question. In some ways, that feels like the future of education: students shouldn’t have to piecemeal together advice, and even better if it’s on-demand help. Edtech companies that help the same students across different subjects can even poke out consistent gaps in their understanding. What if a company could tell a middle-schooler that they constantly get stumped when it comes to inferential questions? The flipside, though, is hard to ignore. Just because a student wants to come to Course Hero for math help, doesn’t automatically mean that they want to come to the company for a summary of the Shakespeare reading. That reality can take away from Course Hero’s assumed goal of creating a stickier, more useful product for customers. Graeur’s response to that concern is that he says he doesn’t plan to rush the integrations between the new, and different companies within the Course Hero umbrella. “We start with the thesis of ‘let’s be decentralized, let’s empower and continue the entrepreneurialism of building out those individual companies,” Graeur said. “And then if and when there’s these moments, and you’re gonna start to see more and more of integration of different content, tools and services between the offerings at the right moment in time.” The answer suggests that Course Hero wants to play a backseat, and more of a platform role in these companies’ lives, versus combining and paywalling them to drive more subscriptions. And to take a minute to believe the founder, who started the company in 2006 and only recently began using venture capital as a leverage to grow the core business, it does appear that every acquisition continues to stand alone in its own, specific world. There’s more to come, he tells me, which means that we’ll see what the edtech’s appetite looks like as it scales. “We’re a company of relatively more independent, autonomous brands,” he said. “There is so much amazing opportunity for integrating each other’s technology and services with each other. And the question is how to stack rank those and prioritize them.” Join the tens of thousands of people who subscribe to my newsletter, Startups Weekly . Sign up here to get it in your inbox.
LitCharts Frequently Asked Questions (FAQ)
When was LitCharts founded?
LitCharts was founded in 2013.
Where is LitCharts's headquarters?
LitCharts's headquarters is located at 225 Eastern Parkway, Brooklyn.
What is LitCharts's latest funding round?
LitCharts's latest funding round is Acquired.
How much did LitCharts raise?
LitCharts raised a total of $500K.
Who are the investors of LitCharts?
Investors of LitCharts include Course Hero and FireStarter Fund.
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