Google Capital invests $300 million in web education
With a fresh investment of 300 million dollars to utilize this year, Google Inc. has started with investing into web education.
According to Mashable, manager of Google Capital, David Lawee said that the company has got two times the amount of money it got last year. Lawee also said that they were investing 40 million dollars into Renaissance Learning Inc., and aim at doing five or six deals this year.
Founded in the 1980s, Wisconsin based Renaissance Learning Inc. provides digital tools for education allowing students and teachers to exchange ideas via the web or on mobile devices. The software aims at improving the students' reading and maths skills from kindergarten through high school.
Lawee said they are expecting to get a 1 billion dollar valuation from Renaissance Learning Inc., which is being used by 20 million students and teachers in 60 countries.