The publishing company Encyclopaedia Britannica Inc. known for its Merriam-Webster dictionary and educational technologies is planning to conduct its first public offering (IPO). This was reported by Bloomberg. Britannica, which has been published since 1768, is considered the oldest English-language encyclopedia.

The company plans to reach a market valuation of $1 billion following the IPO scheduled for June this year. In recent years, the publishing house, acquired by investor Jacob Safra in 1996, has shifted from print encyclopedias to digital editions and online learning.

The company includes Britannica Education and Melingo AI, an artificial intelligence-based language processing platform used for language learning and other educational purposes. Britannica's products are viewed more than seven billion times annually and used by more than 150 million students.

According to the results of 2022, the company's revenue amounted to almost $100 million, which indicates successful work in the digital environment and great demand for their educational services. The Britannica IPO is expected to attract significant interest from both investors and consumers of educational products.