This Research Note examines learnd SE, a Luxembourg public company, which announced on 24th September 2025, that the founders have taken a majority stake and are to take the company private. We explore the transaction details, learnd’s history and buy and build strategy followed by the implications of the organizational change and a Memoori view. This article updates our previous coverage of learnd in May 2025, March 2024, May 2023 and October 2022. Transaction Details A new phase in the evolution of learnd was announced this week, as the business is taken private, under the majority ownership of the founders. learnd SE announced the sale of a 50.5% majority stake in its operating subsidiary, learnd Ltd as part of a management buy-out to learnd Arrow Ltd., a company controlled by its former management board members, John Clifford and Simon Wood. The transaction values learnd Ltd. at an enterprise value of €48.5 million. The sale will […]