Encyclopaedia Britannica Inc. Aims for $1 Billion Valuation in IPO

Encyclopaedia Britannica Inc., the education technology company and publisher of books such as the Merriam-Webster dictionary, is moving forward with plans for its initial public offering (IPO) aiming for a valuation of about $1 billion, as reported by Bloomberg.

 The Chicago-based company, recognized for its renowned encyclopedia, is collaborating with advisors and is expected to launch the IPO as soon as June, following the announcement in January that it had filed confidentially for the IPO.

While details including the valuation and timing are subject to change, the IPO would culminate Britannica's efforts to go public, a journey that has spanned at least two years amid a subdued period for first-time share sales. Founded over 250 years ago, Encyclopaedia Britannica is the oldest English-language general encyclopedia. Under the ownership of investor Jacob E. Safra since 1996, the company has transitioned from print encyclopedias to digital editions and online learning in recent years. Its subsidiaries encompass Britannica Education and Melingo AI, an artificial intelligence-powered natural language processing platform employed in language learning and dictionaries.

Britannica's products draw over 7 billion page views annually and are utilized by more than 150 million students.