BYJU’s company based in Bangalore, BYJU’s Education Technology Platform is an online tutoring and coaching firm that was launched in 2011 and runs on a freemium model. BYJU’s main aim is to provide coaching through online video lectures for students of classes 1 to 12 and also for people preparing for competitive exams like IITs – JEE, NEET, CAT, GRE, and GMAT.
BYJU’s – This Education app was launched in 2015 and has been a vast achievement. It is used by more than 15 million students worldwide and has 9,00,000 paid subscribers. The app helps students learn on their own rather than relying on spoon-feeding. His approach combines the reinvention of learning, world-class teachers, proven teaching methods, and personalized learning.
Indian Edtech Startup Byju’s Could Be Net Worth $15 Billion
Already the world’s most valuable edtech company, Bengaluru-based ed-tech startup BYJU’S is in talks to raise $700 million in its next round of funding. The venture will be led by investors in the Middle East and the US.
The newest update comes as BYJU’S has already raised $1.2 billion in 2020 and the company’s previously reported valuation was $12 billion.
BYJU’S is reportedly planning to use the funds for further acquisitions. The 10-year-old company originated by BYJU’s Raveendran is set to obtain offline education institute Aakash Educational Services for a whopping $1 billion.
While BYJU’s has not made any comments on the matter, Aakash Educational Services Limited (AESL) has confirmed that it is in talks with BYJU’s to build a strong partnership. It will accelerate our digital sources byju’s 1b 300mraibloombergtrans formation and deliver phenomenal value to our students.
BYJU’S will rapidly expand our omnichannel and digital offerings as we embark on our next trajectory of quality education and growth,” the company said in January. BYJU’S claims to have up to 80 million users and 5.5 million annual paid subscriptions.
Byju’s Acquires Great Learning For $600 Million
BYJU’s said it has acquired edtech start-up Great Learning for $600 million in cash, stock, and earnings. The move will help the $16.5 billion company gain a foothold in professional development and higher education.
The acquisition comes just days after BYJU’s acquired US-based digital reading platform Epic for $500 million. Earlier this year, the Bengaluru-based firm closed its biggest M&A (merger and acquisition) deal when it bought test preparation provider Aakash Educational Services in a $1 billion brick-and-mortar deal. This year, BYJU’s has spent over $2 billion on acquisitions sources byju 1b 300mraibloomberg, including Indian rival Toppr, which the company has yet to formally announce.
BYJU said it will spend an additional $400 million to “accelerate” Great Learning’s growth, bringing its total investment commitment to the higher education space to about $1 billion.
The pandemic has affected changes in common work models, prompting companies to accelerate the technology push and create a demand for technology-based sources byju 1b 300m rai Bloomberg employee roles. Companies are now increasingly trying to upskill their employees, thus supporting the growth of this edtech category. Start-ups such as Upgrade, Eruditus, and Simplilearn operate in this space.
BYJU’s – How did BYJU’s Start?
Hailing from Azhikode, a small village in Kerala, BYJU’s Raveendran was an engineer for a UK-based shipping company. While working, he started helping his friends prepare for the CAT exam, the entrance exam for admission to the best business schools in India. To test himself, BYJU’s also took the exam and secured 100 percentiles! He did not join any of the IIMs but started tutoring students for their Maths exams.
At first, he attended math workshops for free, and then, when he was confident of his proficiency, he started charging a fee. At one point his workshops were so popular that more than 20,000 students attended one such workshop. In 2009, he started filming videos from the workshops he organized.
Advanced Negotiations For Publication
Online education provider BYJU’s, India’s most valuable startup, is in advanced discussions to go public through a merger with one of the specialty acquisitions firms Churchill Capital, according to people familiar with the matter.
The startup has been in talks with several potential SPAC partners and is the furthest along in working out a deal with Michael Klein’s Churchill Capital.
Under the preliminary terms discussed, BYJU’s would raise about $4 billion in total and seek a valuation of about $48 billion, the people said. The startup has been valued at $21 billion, according to market research firm CB Insights.
While an announcement could come as early as January, negotiations are not final. BYJU’s or Churchill could still back out of such a deal, and BYJU’s could consider an IPO in India next year, the people said.
Byju’s Seeks Spac Merger Deal Within A Month For Us Listing
BYJU’s, a leading Indian EdTech startup, is in talks with at least three US-based special purpose acquisition companies (SPACs) to merge with one of them for an IPO within a month. According to a Bloomberg report, BYJU’s is in talks with Michael Klein’s Churchill Capital, Michael Dell’s MSD Acquisition Corp, and Hollywood veteran Harry Sloan, who is making huge investments in SPACs.
SPACs are firms that raise funds from investors in the public market but have no business operations. These entities then use the funds to acquire numerous corporations. The “goal” of a SPAC is to bring a promising privately held business to the market for public investment.
BYJU’s is pursuing a SPAC merger rather than an IPO because it sees more value in attracting US investors and partners, according to Sources byju 15b 200m. The company is also seeking to raise $750 million to $1 billion through pre-IPO financing. Investment bank Goldman Sachs is advising BYJU’s on the financing round and SPAC talks, while Morgan Stanley is helping to consider SPAC proposals, the sources byju 1b 15b 200m, added. According to previous reports, BYJU’s planned to approach $4 billion and target a valuation of around $48 billion.
According to media reports, the deal, which is expected to be formally announced soon, is expected to be close to $150 million to $160 million. Sources byju 15b 200m said the deal would be mostly cash, along with a small portion of equity.
This will be the third major acquisition for Indian ed-tech unicorn BYJU’s, after it acquired coding platform WhiteHat Jr for $300 million in August 2020.
Also, Read – Will Students Ever Come Back to Offline Education
Frequently Asked Questions: –
Q. Why is BYJU successful?
BYJU functions on a Freemium business model. BYJU’s approach to providing knowledge with highly creative visual content, personalized learning, and others. sources byju 1b 15b 200m, facilities have led to BYJU’s success. BYJU’s has been able to properly connect technology and knowledge with today’s generation.
Q. Who owns BYJU’s?
BYJU’s Raveendran founded BYJU’s in 2011. Think and Study Private Ltd is the parent association of BYJU’s.
Q. How much is BYJU’s income?
BYJU’s reported revenue was Rs 490 crore through FY 2017-2018, which improved to Rs 1,430 crore during FY 2018-2019. BYJU’s currently reported revenue of Rs 2,800 crore (2020).
Q. Who is Byju Raveendran’s wife?
BYJU’s Raveendran’s wife is Divya Gokulnath, who is an entrepreneur and an educator as well as co-founder and director of BYJU’s.
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