Microsoft has acquired Minneapolis-based tech startup Flipgrid, an education-technology platform, for an undisclosed amount.
As part of the deal, Microsoft will start offering Flipgrid free for schools, and customers who already paid for a subscription will receive a prorated refund. Microsoft will retain Fliprid's operations in Minneapolis.
Flipgrid allows students to start discussions by replying to topics with video clips in the classroom or at home. The platform, which is used by about 20 million students in 180 countries, was created by University of Minnesota Learning Technologies Professor Charles Miller.
Miller launched the company around three years ago under the name Vidku. Shortly after the company was founded, it raised $17 million in 17 days. At the time of the funding, Leslie told the Minneapolis/St. Paul Business Journal that Flipgrid had around 80 investors, most of them individuals. Arthur Ventures also participated, and the University of Minnesota also has a stake in the company
The company's leadership team includes two seasoned tech veterans: Jim Leslie, Flipgrid's CEO, and Phil Soran, the company's executive chairman. Both Leslie and Soran have previously founded and sold their tech businesses. Leslie founded Midwave Corp. and sold it to Datalink Corp. for $17.4 million around seven years ago. Soran co-founded and sold Compellent Technologies to Dell for $960 million in 2010.
"Flipgrid has always been about the educator community. They are the source of our innovation and impact," Leslie said in a release. "Now as part of Microsoft, we have the opportunity to scale so we can support every educator across the globe as they empower student voice."
This story will be updated as more details become available.
