Technology has drastically improved the existing educational system over the past fifteen years. ‘Self-learning’, using online platforms, has replaced the traditional learning. Byju’s – The Learning App is an Indian multinational EdTech which is developed by Think and Learn Pvt. Ltd, established by Byju Raveendran and Divya Gokulnath in 2011. Originally launched in August 2015 and it’s headquarter is at Bengaluru. It is India’s largest online learning application with over 4 crore users overall, 30 lakh annual paid subscribers and an annual retention rate of firm is about 85%. EdTech uses a blend of content, media and technology to make learning more interactive, interesting and creative among the students. It also promotes personalized learning among the users and conceptual clarity through visualization.
At first this E-Learning firm is offering educational content for students from std.4 to std.12. And in 2019 they launched the program called ‘Early Learning Program’ which is for student from class 1 to 3. They also trains students for competitive exams like IIT-JEE, CAT, IAS, NEET and also international exam like GMAT and GRE.
Detailed Acquisitions of Byju’s
In July 2017, Think and Learn has acquired TutorVista from Pearson Plc Company which is also an Educational company located at London, United Kingdom. Then In January 2019, Byju’s takeover US-based company named ‘OSMO’, they made the educational game for children aged 3-8 years for $120 million. It has also acquired Indian startup named ‘WhiteHat Jr’ which is founded by Karan Bajaj for $300 million. According to Wikipedia, Byjus has also signed a deal to acquire the Aakash Education service for $1 billion. As of February 2021, Byjus also acquires the platform called ‘Scholr’ which is a Mumbai-based doubt clearing platform for $180 million. In April 2021, Byju’s acquired test preparation firm Aakash Educational service ltd. In an estimated $950 million cash and stock deal. Aakash’s founders and Blackstone Group will receive minority stakes as part of the deal. These are the acquisition which are owned by Byju’s.
Now let’s talk about their Lead investor:- Tiga Investment, Baron capital, Arison Investments, MC Global Edtech Investment Holdings, TCDS India LP, XN Exponent Holdings, BlackRock, Owl Ventures.
Byjus Funding and Financials
Byju’s has received it’s first seed funding from Aarin Capital in 2013. In 2017, Then it has generated revenues from its subscription of about ₹260 crore (US$40 million) and doubled it in 2018 financial year, earning ₹520 crore. By the end of the fiscal year 2018, Byju’s was valued at $1 billion as per the company filling with Ministry of Corporate Affairs which is very impressive. As of 2019, Byju’s had secured nearly $785 million in funding from investors. Like including Sequoia Capital India, Chan-Zuckerberg Initiative (CZI), Tencent, Sofina, Lightspeed Venture Partners, Brussels-based family office Verlinvest, development finance institution IFC, Napsters Ventures, CPPIB and General Atlantic. Byju’s was the first company in Asia to receive an investment from Chan-Zuckerberg Initiative (co- funded by Facebook founder Mark Zuckerberg and Priscilla Chan).
Byjus Funding and Financials in 2020
In June 2020, They have achieved the decacorn status with an investment by Mary Meeker’s Bond Capital, a global technology investment firm, Byju’s became decacorn at US$10.5 billion valuations. This firm had also provided sponsorships to Indian Cricket Team, Indian Premier League and Kerala Blasters FC by replacing Muthoot Group. In November 2020, They raised US$200 million in a fresh funding round led by BlackRock and T. Rowe Price at a valuation of US$12 billion.
Byjus Capital in 2021
In March 2021, Byju’s secured $460m in a series F funding round. Recently in April 2021, B Capital, Baron Funds and XN invested US$1 Billion in Byju’s.
Their latest funding is to raise $700m from new and existing investors in order to achieve $15 billion valuation target.