The TV networks company-led group invested $20M in an intriguing business: Grockit has a service called Learnist that enables students planning to take tests such as the SATs and LSATs to help each other prepare with games and other interactions on social networks. As part of the investment, Discovery and Grockit will share technology, and explore opportunities to market, distribute, and promote each other’s services. Discovery is “a natural fit with Learnist’s unique knowledge platform and model that encourages passionate audiences to share what they know and learn what they don’t,” Discovery Chief Digital Officer JB Perrette says. Investors joining Discovery include Summit Group, backers of Uber and Scribd, and previous supporters of Grockit: Atlas Venture, Benchmark Capital, Integral Capital Partners and GSV Capital Corp. “Our relationship will combine Learnist social learning technology with Discovery’s massive reach and footprint,” Grockit CEO Roy Gilbert says.
By DAVID LIEBERMAN, Financial Editor | Tuesday December 18, 2012 @ 5:00pm ESTTags: Discovery Communications
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This article was printed from http://www.deadline.com/2012/12/discovery-investment-grockit/
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