An AIEd solution company, Riiid recently announced its acquisition of Langoo, the Japanese distributor of Riiid’s artificial intelligence (AI)-based test preparation app Riiid TUTOR, in order to expand its business in Japan.
YJ Jang, Riiid’s co-founder, and CEO said, “The exceptional capacity of Langoo in its local business with Riiid TUTOR was the main reason for this acquisition. Riiid’s strength is our scalability and ability to apply our technology anywhere, regardless of regions, languages, and domains. By leveraging this investment, we will capture broader Japanese market opportunities. This acquisition is the first step in an inorganic strategy to ultimately apply Riiid’s AI technology to the global market and help more learners around the world.”
This acquisition establishes Riiid as a local player in the remote learning and education market in Japan. By leveraging the product’s success in Korea, the company plans to bring the product to the Japanese market by enhancing marketing, sales, and B2B business development.
Additionally, Riiid plans to provide AI-based English speaking and English coaching services to broaden its customer base beyond the Test of English for International Communication (TOEIC). Riiid will adapt its AI technology to a variety of education fields, including public schooling, private education, and corporate training, showcasing the company’s long-term commitment to B2B.