Brisbane-based corporate training tech unicorn Go1 has closed the biggest deal in its history, to buy a popular German book and podcast summary subscription service.
the sale process had been conducted slowly, and that he had been “trading notes” about the corporate learning market with Blinkist founders Holger Seim and Tobias Balling since 2019.
The respective teams decided to meet halfway between Australia and Germany, in Seattle, initially to discuss business collaboration ideas. Mr Barnes declined to disclose the financial size of the deal, citing confidentially clauses, but well-placed industry sources suggested a deal for a company of Blinkist’s size would be worth around $100 million., closing an equity funding round featuring existing investors like AirTree Ventures, Salesforce Ventures, SoftBank and Madrona, while bringing Insight Partners and Greylock on to its cap table.
The acquisition deal was done in a combination of cash and scrip, with Hogan Lovells serving as legal counsel to Go1 for the acquisition, Orrick HerringtonYoung as financial and tax adviser., which had about 55 employees and provided a similar service to Go1 in French, and it has also made a couple of other much smaller acquisitions.
He said Go1’s international expansion plans had been progressing successfully, with about a third of its customers and revenue in the United States. A third comes from Asia Pacific, and the other third from Europe, the Middle East and Africa.AirTree Ventures co-founder and partner Craig Blair said the deal made a lot of sense for Go1, as it offered it the chance to expand its educational content offerings, and tap into personal users as well as its existing corporate market.
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