São Paulo – September 7, 2011– Abril Educação (BM&F Bovespa: ABRE11), one of the largest and most respected education companies in Brazil, and Livemocha™, the world’s largest language learning community, announced a partnership in which Abril Educação becomes the exclusive representative of Livemocha in Brazil. This partnership combines Livemocha’s powerful social language learning methodology with Abril Educação’s expert skill in serving the existing education marketplace in Brazil. The two companies will work together to deliver affordable and engaging language learning to the sizeable Brazilian market.
Under the terms of the agreement, Abril Educação – a BM&FBovespa-listed company and controlled by Grupo Abril, one of the largest and most influential media corporations in Latin America – will promote Livemocha to consumers and organizations throughout Brazil. The partnership with Livemocha comes shortly following Abril Educação’s highly anticipated initial public offering on the Brazilian Stock Exchange that was announced on July 6 and raised 371 million Brazilian reais ($238 million). Abril Educação’s experience will be key in enabling Livemocha to reach Brazilian schools, homes and corporations. The partnership is focused in the near term on helping Brazilian students and citizens prepare to welcome millions of visitors from around the world for the upcoming World Cup and Olympic championships. In a related transaction, Livemocha raised $5 million in additional working capital to assist with the effort in Brazil and further global expansion. Abril Educação was joined by existing investors August Capital and Maveron in the financing.
Livemocha is the world’s dominant online language learning company, with over 11 million members from 190 countries helping each other learn 38 languages. Brazil, one of the world’s fastest growing economies and a culture that strongly embraces social media, has long been a significant segment of the Livemocha community, representing over 25 percent of the membership. Abril Educação is one of the largest education publishers in Brazil, supplying nearly 50 million textbooks in 2010, serving approximately 30 million students and over 125,000 schools with textbooks, learning systems and other services. Its books have received more than 30 awards for excellence in recent years.
“Brazil is a strategic market for Livemocha with its booming economy and strong adoption of social media technologies,” said Michael Schutzler, CEO of Livemocha. “This agreement establishes a blueprint by which we intend to continue our global expansion, build on our success in using language education to foster personal and professional growth, and remove barriers in an increasingly connected world. Abril Educação is the ideal partner to help Livemocha build upon our success in Brazil and expose our brand to millions of people wanting to learn another language.”
“The world is watching Brazil and we are preparing our nation to become a population of global citizens,” said Manoel Amorim, CEO of Abril Educação. “The foundation for competing globally is language and we chose to invest in this relationship because Brazil loves Livemocha. No other language company has either the experience or community to match Livemocha, and together with Abril Educação our companies will introduce millions more to the benefit of social language learning.”
Livemocha is a company committed to helping every person on earth achieve fluency in a new language. As the world’s largest online language learning community, Livemocha fuses traditional learning methods with online practice, and interaction with native language speakers from around the world. Livemocha delivers an unparalleled, learning experience that promises conversational fluency. Since launching in 2007, the Livemocha community has grown to over 11 million members from 190 countries, underscoring the strong demand for an engaging and collaborative approach to language learning. Livemocha continues to grow with one mission: to create a world in which every human being is fluent in multiple languages. For more information about Livemocha, please visit http://www.livemocha.com.
About Abril Educação
One of the largest educational companies in Brazil, Abril Educação offers solutions for schools, based on publishers’ best available didactic content, comprising class planning, evaluation, pedagogic consultancy, digital complimentary materials and multidisciplinary projects. The company owns the publishing houses Ática and Scipione, as well as Anglo and pH, two of the most respected education groups in Brazil. Abril Educação is a leader in the textbook and learning systems markets in Brazil. The company recently completed an IPO in Brazil and is now listed on the BM&F Bovespa. It is controlled by Grupo Abril, one of the largest media conglomerates in Latin America.
About Grupo Abril
The Abril Group is one of the largest and most influential media groups in Latin America, providing information, education and entertainment for virtually all segments of the public and working seamlessly across media. Based on the principles of integrity, quality, leadership and innovation, the company was founded in April 1950. It also has the largest press in Latin America with expertise in database marketing, subscription and distribution.