Start up Stories – Byjus App

Byju’s is an Edu- tech Company founded by Byju Raveendran and Divya Gokulnath in the year 2011. In November 2021 it was valued at 21 Billion USD. He is an Engineering Graduate, who started teaching maths to his friends. In 2003, he appeared for CAT himself and scored 100%, despite not studying enough for the exam. Two years later, he helped some others crack CAT and then decided to take up teaching as a full-time job. He set up Think and Learn in 2011, for Online Lessons before launching the main App in 2015.

The company offers online video-based learning programs for the K-12 segment and for competitive exams. In 2012, the firm entered Deloitte Technology Fast 50 India and Deloitte Technology Fast 500 Asia Pacific ratings and has been present there ever since. Byju’s is an education tutoring app that runs on a freemium model, with free access to content limited for 15 days after the registration

In August 2015, the firm launched Byju’s: The Learning App. In 2017, they launched Byju’s Math App for kids and Byju’s Parent Connect app e. By 2018, it had 15 million users and 900,000 paid users. In July 2019, Byju’s won the sponsorship rights for the Indian cricket team jersey, replacing its former sponsor Oppo.

Byju’s raised 50 million USD in a Series F round from IIFL’s private equity fund and Maitri Edtech.

TutorVista Global Private Limited (acquired by BYJU’S) was an educational organisation that specialized in online tutoring in the United States. It relied on a combination of Voice Over Internet Protocol (VoIP) telephony, session recording, instant messaging, file sharing and an interactive whiteboard. The company mainly provided academic help by paid subscription to students in subjects such as English, Mathematics, Statistics and Science.

Byju’s reports to have 40 million users overall, 3 million annual paid subscribers and an annual retention rate of about 85%. In 2019, the company announced that it would launch its app in regional Indian languages.It also planned to launch an international version of the app for English-speaking students in other countries.Recently, Byju’s launched new programs in its Early Learn App for students of kindergarten as well.

In April 2021, the company also announced the launch of “BYJU’S Future School” to be led by WhiteHat Jr Founder Karan Bajaj. The Future School aims to cross the bridge from passive to active learning with an interactive learning platform blended with coding and other subjects like Math, Science, English, Music and Fine arts through storytelling. BYJU’S will launch the Future School in the United States, United Kingdom, Australia, Brazil, Indonesia and Mexico in May.

In 2013, Byju’s received its seed funding from Aarin Capital. As of 2019, they had secured nearly 785 Million USD in funding from Investors. IT was the First Company in Asia to receive an Investment from Chan – Zuckerberg Initiative. It became a Unicorn Company in March 2018 and attained the Decacorn status in June 2020 post investment by Mary Meeker’s Bond Capital.

Byju’s operates roughly on a premium business model where a paid subscription is required for most of the content. In 2017, Byju’s generated revenues of about ₹260 crore (US$40 million or €33 million) and doubled it in 2018 financial year, earning ₹520 crore.

In November 2020, Byju’s became the title sponsor of the Indian Super League club Kerala Blasters FC replacing Muthoot Group. In April 2021, B Capital, Baron Funds, and XN invested $1 billion in Byju’s.

The Byju Raveendran-owned decacorn is currently valued at $21 billion, which also makes it the world’s most valuable edtech start-up. Byju’s is now the 13th most valuable start-up in the world, as per CB Insights’ latest unicorn tracker.

The Byju’s app has become a business case at Harvard Business School.

Reference:

https://www.business-standard.com/about/who-is-byju-raveendran

https://www.businesstoday.in/entrepreneurship/news/story/year-ender-2021-byjus-worlds-13th-most-valuable-start-up-bytedance-and-spacex-the-only-hectocorns-315533-2021-12-14

Image Source: Entrackr.com

Aishwarya Says:

I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.

If you are interested in participating in the same, do let me know.

Do follow me on FacebookTwitter  Youtube and Instagram.

The copyright of this Article belongs exclusively to Ms. Aishwarya Sandeep. Reproduction of the same, without permission will amount to Copyright Infringement. Appropriate Legal Action under the Indian Laws will be taken.

If you would also like to contribute to my website, then do share your articles or poems at secondinnings.hr@gmail.com

In the year 2021, we wrote about 1000 Inspirational Women In India, in the year 2022, we would be featuring 5000 Start Up Stories.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.