Nine Ventures Acquires Stake In LiteracyPlanet
Nine Ventures is pleased to announce its investment in LiteracyPlanet.
Established in 2008, LiteracyPlanet has gone from strength to strength and currently reaches more than 85,000 students across Australia and international markets. It is a cloud based English literacy teaching and learning resource that equips teachers and parents with a motivational learning platform that is highly engaging for students of all ages and ability.
David Gyngell, Chief Executive Officer, Nine Entertainment Co. (NEC) welcomed the investment, “We’re pleased to be investing in such a fantastic business. Digital education is a high growth sector with strong economics, making this an attractive investment for NEC. At Nine we’re committed to entertaining and informing Australians and LiteracyPlanet offers world class online learning tools for Australian children that entertain while increasing their literacy skills”.
Shane Davis founder of LiteracyPlanet said, "The Nine investment represents a significant milestone for our company. It's an endorsement that reflects our commitment to providing parents and teachers with the best possible resource for improving the literacy skills, and ultimately the life opportunities, of children in their care. I'm very excited by the enthusiasm and passion that Nine has shown for the social benefits to flow from this partnership. It means we are now well positioned to achieve even more amazing things in the world of digital education."
Nine Ventures will be a large minority shareholder in LiteracyPlanet. Nine Ventures’ Managing Director Melanie Kansil noted “NEC has a demonstrated ability to add value beyond our financial investment, through media support and integration. We have a strong track record with prior investments including iSelect, 3P Learning, Carsales, Seek, eBay and Betfair. We look forward to growing the LiteracyPlanet business with the support of NEC’s leading portfolio of media assets”.