Press Release

July 31, 2013

Kaplan Acquires Grockit Social Learning Platform and Test Prep Assets

Acquisition Will Enhance Kaplan's Social and Adaptive Learning Capabilities

NEW YORK - Kaplan, the industry leader in test prep worldwide, has acquired the test prep assets and social learning platform of Grockit, Inc., a San Francisco-based pioneer in social learning applications and technologies. GSV Advisors acted as exclusive financial advisor to Grockit in this transaction.

Grockit, Inc. was founded in 2007 to improve academic achievement and extend learning outside of the classroom by advancing online social learning as the dominant instructional design. Grockit branded test prep has since helped over a million users around the world prepare for various tests including the SAT, ACT, GMAT, GRE and LSAT through its social learning platform. The company is rebranding as Learnist and is now focused on developing learning products outside of test prep markets.

"We've long recognized the Grockit team as innovators in social learning and gamification, and the company's initiatives are consistent with our efforts to improve student outcomes through learning science," said Rochelle Rothstein, Executive Vice President, Kaplan Test Prep. "As we seek to better understand the role of social learning and gamification in test prep effectiveness, the acquisition of Grockit branded assets accelerates our efforts. We're looking forward to exploring platform synergies to improve our student experience."

"We're proud of our pioneering work in social learning, and can't think of a team that's better positioned to take our platform to the next level than Kaplan, the recognized leader in test prep," said Roy Gilbert, CEO of Grockit. "We're confident in Kaplan's ability to continue innovating on the Grockit platform, and excited to direct our full attention to Learnist, our web and mobile social learning app focused on broader social learning."

Grockit introduced its Learnist product in 2012 to enable people from all around the world use the web and mobile application to teach and learn from rich media assembled by experts across the Learnist.com community.

About Grockit, Inc.

Grockit, Inc., was founded to improve academic achievement and extend learning outside of the classroom by advancing online social learning as the dominant instructional design. With its 2013 acquisition by Kaplan, the company has rebranded itself as Learnist. Applying adaptive learning algorithms and innovative social networking and online gaming technologies, Grockit and Learnist users discover a fun and engaging learning experience. Founded in 2007 by Farb Nivi, a former Teacher of the Year for The Princeton Review and academic director at Kaplan, Learnist is headquartered in San Francisco and has received funding from Atlas Venture, Benchmark Capital, Discovery Communications, Inc., Integral Capital Partners, GSV Capital and NewSchools Ventures. For more information, visit Learnist.com

About Kaplan Test Prep

Kaplan Test Prep (www.kaptest.com) is a premier provider of educational and career services for individuals, schools and businesses. Established in 1938, Kaplan is the world leader in the test prep industry. With a comprehensive menu of online offerings as well as a complete array of print books and digital products, Kaplan offers preparation for more than 90 standardized tests, including entrance exams for secondary school, college and graduate school, as well as professional licensing exams for attorneys, physicians and nurses. Kaplan also provides private tutoring and graduate admissions consulting services.

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Kaplan Acquires Grockit Social Learning Platform and Test Prep Assets

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