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.
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