– M. DHARANI (Class of 2022, IBS Hyderabad)
As of 2019, Byju’s has secured nearly $785 million in funding from investors, including sequoia capital India, Chan Zuckerberg Initiative (CZI), Tencent, Sofina.
Byju’s not only prepared students pursuing undergraduate, graduate-level courses, and but also in recent years it has expanded its catalogue to school going students. It uses simple realistic materials to teach such as pizza, cake etc which makes complex subjects look easier. Byju’s learning interactive platform is a cafeteria approach, where the students can opt to choose a course and subscribe to them by paying fees. Byju’s plays a vital role in enhancing the digital learning by providing students with a tablet which is loaded with an application for the better usability and it features many additional materials, where students can read, refer and revise the concepts.
As an ed-tech start-up, headquartered in Bengaluru, India is the only learning app from India that received the highest volume of funds from investors. As a result of which, Byju’s is currently ranking 72 in the list of 100 billionaires.
Officially byju’s has become the third decacorn after start up’s like OYO and Paytm. Despite having 50 million users on the platform, byju’s paid user count is 3.5 million. The annual renewal rates are as high as 85%. Byju’s had raised a $200 million from the private equity firm General Atlantic in February 2020. Last year Byju’s became the new face in the Forbes billionaire’s list with a net worth of $1.9 billion.
Due to the pandemic prevailing all over the world, byju’s have had a busy year. In the span of two months, byju’s added 13.5 million users. They gained a lot of business by announcing that all the content would be free of cost, which made a huge difference in the business platform.
The company had doubled its income to $2800 million by the end of March 2020.
EdTech start-up byju’s has raised an unannounced amount of funding from the BOND- a Global technology investment firm. This is the first investment of Bond’s in India. Bond has earlier invested in company’s like Facebook, Airbnb, Door dash, uber etc Mary Meeker is one of the four founders of BOND.
The deal also welcomes BOND as the latest addition to byju’s cadre of high-profile investors, which already includes Naspers, Sequoia Capital and Tencent.
It became India’s official cricket sponsoring team in September 2019. It is no surprise that Asia-based educational system is in the lion share of the investments particularly those that sell directly to customers.
References:
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aashima aggarwal
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