Jump to content

Byju's

From Wikipedia, the free encyclopedia
(Redirected from TutorVista)

"Byju" redirects here. For the company's co-founder, see Byju Raveendran.
Think and Learn Private Limited
Byju's
Company typePrivate
Industry
Founded2011; 13 years ago (2011)[1]
Founders
Headquarters
Bangalore, Karnataka[1]
,
India
Area served
Worldwide
Key people
ProductsBYJU'S – The Learning App
RevenueIncrease ₹5,298 crore (US$620 million) (FY22)[3]
Negative increase ₹−8,245 crore (US$−960 million) (FY22)
Subsidiaries
  • Osmo
  • TutorVista (Rebranded as iRobot Tutor TV STEM)
  • HashLearn
  • WhiteHat Jr
  • LabInApp
  • Scholr
  • Aakash Institute
  • Toppr
  • Whodat
  • Tynker
  • Epic!
  • Great Learning
  • Superset
  • GradeUp (Rebranded as Byju's Exam Prep)
  • GeoGebra
Websitebyjus.com Edit this at Wikidata

Byju's (stylised as BYJU'S) is an Indian multinational educational technology company, headquartered in Bengaluru.[4] It was founded in 2011 by Byju Raveendran and Divya Gokulnath. As of October 2024, various media outlets reported that Byju's valuation has now plummeted to zero, down from its peak valuation of $22 billion in 2022.[5][6] In April 2023, the company claimed it had over 150 million registered students.[7]

In April 2024, according to a report by the Times of India, Byju's has laid off approximately 500 employees, mainly from its sales and marketing departments.[8]

The National Company Law Tribunal (NCLT) in July 2024 allowed Byju's parent Think and Learn to move forward insolvency proceedings in a plea filed by the Board of Control for Cricket in India (BCCI) over unpaid dues amounting to over ₹158 crores. The order was later quashed by NCLAT Chennai after the two parties agreed to a settlement.[9][10]

History

[edit]
Byju's CEO Byju Raveendran

Byju's app was developed by Think and Learn Pvt. Ltd, a company which was established by Byju Raveendran, Divya Gokulnath and a group of students in 2011.[11][1][12] Byju, an engineer by profession, was coaching students in mathematics since 2006.[11][13] During the initial days, the company focused on offering online video-based learning programs for the K-12 segment and for competitive exams.[14][15] 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.[1][16]

In August 2015, the firm launched Byju's: The Learning App.[17][14] In 2017, they launched Byju's Math App for kids and Byju's Parent Connect app.[18][19] By 2018, it had 15 million users out of which 900,000 were paid users.[20][21] In the same year, Byju's became India's first edtech unicorn.[22] By 2019, 60% of Byju’s students were from non-metros and rural cities.[23]

In January 2022, the company joined Simplilearn, Unacademy, upGrad, PrepInsta Prime and Vedantu to become one of the founding members of IAMAI's India EdTech Consortium.[24]

In March 2022, it signed a contract with Qatar Investment Authority to establish a new edtech company and an R&D centre in Doha.[25]

In August 2022, Bloomberg News reported that India's Ministry of Corporate Affairs sent a letter to Byju's asking them to explain the non-filing of its audited financials for the year ending March 2021. Byju's reasoned that the 17-month delay was due to the challenge of consolidating the accounts of its acquisitions during that year.[26] In spite of the delay, Deloitte gave the company a clean audit.[27] In November 2022, many employees of Byju's came out to speak against the company's unfair treatment. Reportedly, Byju's sacked over 5,000 employees.[28] In April 2023, the Enforcement Directorate announced that it had conducted searches at Byju's offices under the Foreign Exchange Management Act and seized "incriminating" documents.[29]

Products and services

[edit]

Byju's is an education tutoring app that runs on a freemium model,[30] with free access to content limited for 15 days after the registration.[30][31] It was launched in August 2015,[32] offering educational content for students from classes 4 to 12.[33] In 2019, an early learning program started for classes 1 to 3.[20] It also trains students for examinations in India such as IIT-JEE, NEET, CAT, IAS, and international examinations such as GRE and GMAT.[34]

Academic subjects and concepts are explained with 12–20 minute digital animation videos[35][36][37] through which students learn in a self-paced mode.[38] Byju's reports to have 40 million users overall, 3 million annual paid subscribers and an annual retention rate of about 85%.[39][40] In October 2018, the app expanded to the United Kingdom, United States and other English-speaking countries.[41]

In 2019, the company announced that it would launch its app in regional Indian languages.[42][20] It also planned to launch an international version of the app for English-speaking students in other countries.[43][44] And to cater students of kindergarten, Byju's launched new programs in its Early Learn App.[45]

In April 2021, the company also announced the launch of "Byju's Future School" to be led by WhiteHat Jr Founder Karan Bajaj.[46] 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.[47] Karan Bajaj quit WhiteHat Jr a year after the acquisition.[48]

The company is focusing on adopting a hybrid model of teaching and learning by launching 500 tuition centers across 200 cities in India.[49] As of February 2022, 80 centers are already launched.[50]

Acquisitions

[edit]

In July 2017, Think and Learn acquired TutorVista (including Edurite) from Pearson.[51][52][53]

In January 2019, Byju's acquired American-based Osmo, a maker of educational games for children aged 3–8 years for US$120 million.[54]

In July 2020, Byju's also acquired Indian startup WhiteHat Jr for US$300 million.[55]

In September 2020, Byju's acquires virtual labs simulation startup LabInApp.[56][57][58]

In February 2021, Byju's acquires Mumbai-based doubt clearing platform Scholr.[59]

In April 2021, Byju's acquired test prep firm Aakash Educational Services Ltd. in an estimated US$950 million cash and stock deal. Aakash's founders and Blackstone Group will receive minority stakes in Byju's as part of the deal.[60][61]

In July 2021, Byju's acquired American-based kids learning platform Epic! in a US$500 million cash-and-stock deal. The Epic acquisition was part of Byju's foray into the overseas market, from where it expects annual revenue of US$300 million per financial year.[62]

In July 2021, Byju's acquired Singapore-based higher education platform Great Learning at a cost of US$600 million and after-school learning app Toppr.[63]

In September 2021, Byju's acquired two startups including online test preparation platform Gradeup for an undisclosed price and rebranded it to BYJU’S Exam Prep[64][65] and American based coding platform Tynker for US$200 million.[66][67]

In December 2021, Byju's acquired GeoGebra in a US$100 million cash-and-stock deal.[68]

In February 2022, Byju's-owned upskilling platform Great Learning acquires Bengaluru-based campus recruitment platform Superset.[69]

To date, Byju's spent at least $2.8 billion on a dozen acquisitions to expand beyond the original learning app and bring together its services that will allow it to reach learners of all ages. For example, it has ventured into exam preparation, higher education MOOCs, and tuition centers. In addition, it has acquired several additional platforms that offer virtual reality, artificial intelligence, and educational gaming services, most of which occurred in 2021.[33]

Funding and financials

[edit]

Byju's received seed funding from Aarin Capital in 2013.[70] As of 2019, Byju's had secured nearly $785 million in funding from investors, including Sequoia Capital India, Chan Zuckerberg Initiative (CZI), Tencent, Sofina, Lightspeed Venture Partners, Qatar Investment Authority,[71] Verlinvest, IFC, Naspers Ventures, CPPIB and General Atlantic.[21][72][73] Byju's was the first company in Asia to receive an investment from Chan-Zuckerberg Initiative (co-funded by Meta Platforms co founder, chairman and CEO Mark Zuckerberg and Priscilla Chan).[74][75][76] As per the company filings with the Ministry of Corporate Affairs, Byju's became a unicorn and was valued at ₹6,505 crore ($1 billion) as of March 2018.[77][72] In June 2020, Byju's attained the decacorn status with an investment by Mary Meeker's Bond Capital.[78] In March 2022 Byju's raised $800 million, reaching a valuation of $22 billion.[79]

In September 2020, Byju's replaced Oppo as the title sponsor of the India national cricket team.[80] Byju's operates roughly on a premium business model where a paid subscription is required for most of the content.[35] 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.[81][82][83] In June 2020, with the investment of Bond, a global technology investment firm, Byju's became viewed as a decacorn with a US$10.5 billion valuation.[84]

In November 2020, Byju's became the title sponsor of the Indian Super League club Kerala Blasters FC replacing Muthoot Group.[85] In November 2020, Byju's raised US$200 million in a fresh funding round led by BlackRock and T. Rowe Price at a valuation of $12 billion.[86] In March 2021, Byju's secured $460m in a series F funding round.[87] In April 2021, B Capital, Baron Funds, and XN invested $1 billion in Byju's.[88] In June 2021, Byju's raised $50 million in a Series F round from IIFL's private equity fund and Maitri Edtech.[89] In October 2021, Byju's raised $296 million as a part of its Series F round from Oxshott Venture Fund, Edelweiss Group, Verition Fund Management, XN Exponent Holdings, and MarketX Ventures.[90] In March 2022, the company raised $800 million from Byju Raveendran, Sumeru Ventures, Vitruvian Partners, and BlackRock.[91] In March 2022, Byju's was named as one of the official sponsors of the 2022 FIFA World Cup.[92]

In 2022 Byjus laid off nearly 4000 people from its team amid funding crunch and road to profitability.[93]

Byju's is experiencing a severe funding crunch as of December 2023. The business is at odds with US lenders over unpaid interest on a $1.2 billion term loan. Byju's listed two important assets for sale in an effort to raise between $800 million and $1 billion to help with its financial difficulties. [94]

Byju's laid off almost 4,000 employees in 2022 as a result of a lack of funding, hoping to shift toward profitability. In addition, the business is dealing with litigation and grievances regarding its products, services, and business practices from clients, employees, and competitors.

Byju Raveendran, the company's founder and group CEO, stated in November 2023 that the business will keep growing profitably and sustainably in the upcoming years.[95]

On 25 January 2024, lenders began bankruptcy proceedings against Byju's in an effort to repay its loans.[96] On 1 February 2024, Byju's U.S. division filed for Chapter 11 bankruptcy in Delaware. Byju's would raise around $200 million in an effort to clear "immediate liabilities" and for other operational costs at a post-money valuation of $225 million.[97] [98]

On 22 May 2024, a US bankruptcy court penalized Byju's director Riju Ravindran for contempt of court for refusing to disclose the location of $533 million in loan proceeds. The court also prohibited further transfers of these funds and found co-founders Byju Raveendran and Divya Gokulnath complicit. This decision followed a year-long legal battle between Byju's parent company, Think & Learn, and its bondholders.[99]

On 1 August 2024, Byju's director Riju Ravindran was ordered by a US bankruptcy judge to pay $10,000 a day until he helped locate the $533 million the company was accused of hiding from its U.S lenders.[100]

In July 2024, the National Company Law Tribunal (NCLT) appointed an Insolvency Resolution Professional to oversee Byju’s day-to-day affairs. This came after BCCI sought initiation of the insolvency proceedings against Byju’s over unpaid dues of Rs.158 crore.[101][102] The order was later quashed by NCLAT Chennai after the two parties agreed to a settlement.[9][10]

On October 23, 2023, the Supreme Court of India set aside an NCLAT judgment that had closed insolvency proceedings against Byju's parent company, Think & Learn. The case was initiated by US-based creditor Glas Trust over a ₹158 crore debt. The Court ruled that proper procedures were not followed by NCLAT and directed that funds in escrow be moved to the Committee of Creditors.

Year Revenue (In crores) Profits/Loss (In crores)
FY 2018[103] Increase 490 Decrease -29
FY 2019[104] Increase 1,376 Increase -8.82
FY 2020[104] Increase 2,381 Decrease-262.1
FY 2021[105] Decrease 2,280 Decrease-4,558
FY 2022[106] Increase 5,298 Decrease-8,245

The company has failed to file the financial report for the year FY23 (due by 30-Sep-2023). It is unlikely to file its financial report for the year FY24 also in time (due by 30-Sep-2024) given the previous year's report has yet to be reported. The company's statutory auditor BDO India abruptly resigned from the assignment in early September 2024 citing various issues with the auditee. The company was already in a big financial mess at the end of FY22. It can only worsen further - possibly beyond recovery - given the multiple crises buffeting the company.

Philanthropy

[edit]

In September 2020, Byju's launched the “Education for All” Initiative for kids from marginalized populations.[107]

Among the several initiatives launched under Education for All, Byju's Give was launched in November 2020, under which the company collects old or unused smart devices for refurbishing purposes and then loads them up with Byju's content for free and distribute to those children who have no access to the internet.[108]

Sports sponsorships

[edit]

In July 2019, Byju's won the sponsorship rights for the Indian cricket team jersey until 2023.[109]

In November 2020, Byju's replaced the Muthoot Group to become the title sponsor of the Indian Super League club Kerala Blasters FC until 2024.[110]

In March 2022, Byju's was announced as an official sponsor of the FIFA World Cup Qatar 2022.[111]

Criticism

[edit]

Libel suits

[edit]

Byju's was criticized for charging fees that only the rich can afford.[112] Former salespeople say the company pushes its products on parents who cannot afford them.[113][114] Byju's filed a ₹20 crore (200,000,000) defamation suit against critic Pradeep Poonia. They later withdrew the lawsuit.[115][116]

Advertising and sales practices

[edit]

Byju's subsidiary WhiteHat Jr. was asked to remove their five TV advertisements by the Advertising Standards Council of India (ASCI) due to misleading advertisements[117] and hard sales tactics.[118] WhiteHat Jr. claimed that a child named "Wolf Gupta" bagged job offers worth millions of rupees in multiple social media advertisements. This child was often described to be between the ages of 6 and 14 years. Investigations later revealed that this was all fabricated and Mr. "Gupta" is a work of fiction.[119]

The company had filed a ₹20,000,000 (equivalent to ₹24 million or US$280,000 in 2023) defamation suit against Pradeep Poonia in November 2020, a software engineer, who alleged that the company made false claims and hired incompetent teachers.[120] It was later withdrawn.[121] It has also been the subject of a data leak, where the personal information of over 200,000 users was exposed.[122]

The Department of Consumer Affairs voiced concerns on 24 June 2022, at India Edtech Consortium (IEC) meeting regarding aggressive sales practices and deceptive marketing strategies utilized by EdTech companies, particularly Byju's and the entities that make up its group. DCA advised Byju's to work closely with the ASCI based on the complaints against it.[123] According to the reports, Byju's team has pledged to resolve these grievances with a detailed action plan.[124]

Accounting practices

[edit]

Previously, BYJU's used a different revenue recognition practice, which they had to change and obtain approval in accordance with Indian Accounting Standards (Ind-AS) 115 guidelines. For example, revenue expected in one fiscal year for a multi-year charge cannot be considered as revenue in that year alone. This discrepancy was eventually flagged by the auditor and a change was sought by the latter.[125] As of September 2022, BYJU's began recognising streaming revenue across the term of usage, which was previously recognised fully upon the start of the contract. These new accounting standards have resulted in a reduction in the amount of income that Byju's is able to book in advance.[126]

Also, in the past, BYJU's used its funding capital to acquire both domestic and overseas businesses and group them under its brand. And, lately investors voiced scepticism regarding this very plan to rapidly deploy capital in order to grow internationally.[126]

Crime allegations

[edit]

In April 2023, Indian authorities conducted a raid on the Bengaluru office of the firm, suspecting violations of foreign exchange laws. In addition to denying any wrongdoing, the company assured its employees of full compliance with the laws. In May, the company faced a lawsuit from lenders in a US court, alleging defaults on payments and breaches of the loan agreement, including significant delays in releasing financial statements. Byju's denied the accusations of fund diversion through its US-based subsidiary, Alpha. In June, following the alleged non-payment of an interest installment of nearly $40 million, Byju's counter sued the lenders for harassment and initiated a new round of layoffs, resulting in the termination of around a thousand employees. The company faced further challenges as its auditors, Deloitte Haskins and Sells, resigned citing the delayed submission of financial statements, hindering their ability to assess the company's accounts. Subsequently, three board members resigned, leaving CEO Byju Raveendran, his wife Divya Gokulnath, and brother Riju Ravindran as the remaining members on the board.[127][128]

In February 2024, India's economic intelligence and law enforcement entity Enforcement Directorate issued a look out notice against CEO Byju Raveendran.[129]

See also

[edit]


References

[edit]
  1. ^ a b c d Soni, Sandeep (14 March 2018). "Decoding Byju's Journey From Start-up to Unicorn". Entrepreneur India. Archived from the original on 24 March 2018. Retrieved 4 May 2019.
  2. ^ "Byju's better half". www.fortuneindia.com. Retrieved 12 March 2021.
  3. ^ "Byju's posts FY22 result after 22-month delay, net loss balloons to Rs 85 crore". Moneycontrol. Retrieved 6 June 2023.
  4. ^ Sahu, Akshaya Kumar; Abhishek, M. (2018). A study of ed-tech industry in India, with a focus on the growth of Byju's (Report).
  5. ^ "Byjus is now worth zero, but no one can stop me from ..., says founder Byju Raveendran". The Times of India. 18 October 2024. Archived from the original on 18 October 2024. Retrieved 18 October 2024.
  6. ^ "Investors leaving board was biggest setback; Byju's now worth zero: founder Raveendran". The Economic Times. 17 October 2024. Archived from the original on 18 October 2024. Retrieved 18 October 2024.
  7. ^ "Learn Math, Coding, Music & Arts Online | BYJU'S USA | BYJU'S Learning | BYJU'S Future School". BYJU'S. Retrieved 5 April 2023.
  8. ^ "Byju's lays off about 500 staffers, nearly half from tuition centre business". The Economic Times. 2 April 2024. ISSN 0013-0389. Retrieved 25 May 2024.
  9. ^ a b "Byju's averts insolvency proceedings as NCLAT allows settlement with BCCI". The Economic Times. 2 August 2024. ISSN 0013-0389. Retrieved 2 August 2024.
  10. ^ a b "NCLAT approves Byju's settlement with BCCI, sets aside insolvency plea against edtech firm". The Indian Express. 2 August 2024. Retrieved 2 August 2024.
  11. ^ a b Rai, Saritha (21 June 2017). "Zuckerberg or Gates? Billionaires Try Opposite Paths for Online Education in India". Bloomberg.com. Bloomberg Technology. Archived from the original on 24 March 2018. Retrieved 4 May 2019.
  12. ^ Ghosh, Debojyoti (21 November 2020). "Byju's better half". Fortune India. Retrieved 26 March 2021.
  13. ^ "BYJU'S The Learning App". Faculty & Research. www.hbs.edu. Harvard Business School. Retrieved 18 July 2022.
  14. ^ a b J Vignesh (23 June 2017). "How 8 students helped Byju Raveendran build his multi-crore edtech business". The Economic Times. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  15. ^ Anu Thomas (28 July 2016). "Overseas expansion, acquisition on Byju Raveendran's mind". The Economic Times. Archived from the original on 13 April 2018. Retrieved 4 May 2019.
  16. ^ "Deloitte Technology Fast50 India 2017 Ranking" (PDF). Deloitte. 2017. Archived from the original (PDF) on 12 April 2018. Retrieved 4 May 2019.
  17. ^ Gaurab Dasgupta (25 August 2017). "Reinventing the classroom, says Byju Raveendran of Byju's: The Learning App". Financial Express. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  18. ^ Dubey, Tanya (15 February 2017). "Byju's new gamified app wants to make studying Maths real fun for students". Business Insider India. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  19. ^ Venkatesh Ganesh. "Parent connect app will track the child's learning journey, says Byju's CEO". Business Line. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  20. ^ a b c Kumar, Krishna (21 March 2018). "Byju's targets Rs 1300 crore revenue next year". The Economic Times. Archived from the original on 24 March 2018. Retrieved 4 May 2019.
  21. ^ a b "Indian teaching startups make work for idle thumbs". The Economist. 17 February 2018. Archived from the original on 17 February 2018. Retrieved 4 May 2019.
  22. ^ "Byju's Is India's First EdTech Unicorn". finance.yahoo.com. 20 September 2018. Retrieved 13 January 2022.
  23. ^ "Byju's profit up due to non-metro users". The New Indian Express. 19 December 2019. Retrieved 13 January 2022.
  24. ^ "IAMAI sets up India EdTech Consortium to uphold code of conduct by edtech platforms". The Hindu. PTI. 12 January 2022. ISSN 0971-751X. Retrieved 10 February 2022.
  25. ^ Abrar, Peerzada (28 March 2022). "Byju's and Qatar Investment Authority announce ed-tech subsidiary in Doha". Business Standard India. Retrieved 30 April 2022.
  26. ^ Srivastava, Shruti; Antony, Anto (25 August 2022). "India Seeks Byju's Reply on Delayed Filing of Audited Accounts". Archived from the original on 26 August 2022.
  27. ^ "BYJU's receives a clean bill of health from Deloitte – e3d news". 5 September 2022. Retrieved 6 September 2022.
  28. ^ ""Byju's Forced Us To Resign, Treated Us As Robots," Say Sacked Employees". NDTV.com. Retrieved 5 November 2022.
  29. ^ Singh, Manish (29 April 2023). "India's anti-money laundering agency searches edtech giant Byju's offices". TechCrunch. Retrieved 1 May 2023.
  30. ^ a b Prasad, Priya (22 March 2016). "Ed-tech startup Byju's raises $75M from Sequoia, Sofina". VCCircle. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  31. ^ George, Ajish (12 September 2016). "Byju Raveendran: From a Malayalam school to an app with Zuckerberg funding". Malayala Manorama. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  32. ^ Warrier, Shobha. "2 lakh to 3300 crore: The Byju's Classes success story". Rediff.com. Archived from the original on 2 August 2018. Retrieved 4 May 2019.
  33. ^ a b Williamson, Ben (3 April 2022). "Big EdTech". Learning, Media and Technology. 47 (2): 157–162. doi:10.1080/17439884.2022.2063888. ISSN 1743-9884. S2CID 249100577.
  34. ^ Ghosh, Durba (24 May 2017). "Byjus' CEO targets entry into unicorn club; aims to turn profitable in FY18". Moneycontrol.com. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  35. ^ a b Dwivedi, Vinay (13 June 2016). "Why Byju Raveendran's firm is leading in the educational technology space". The Economic Times. Archived from the original on 15 February 2019. Retrieved 4 May 2019.
  36. ^ Karnik, Madhura (27 July 2016). "India's largest edu-tech startup was built by an engineer who aced CAT for fun—twice". Quartz. Archived from the original on 1 August 2016. Retrieved 4 May 2019.
  37. ^ Shree, Shilpa (9 September 2016). "How Byju's fills the biggest gap in Indian education". Forbes India. Archived from the original on 31 July 2018. Retrieved 4 May 2019.
  38. ^ Mirjana, Pejic-Bach; Ça?lar, Do?ru (14 January 2022). Management Strategies for Sustainability, New Knowledge Innovation, and Personalized Products and Services. IGI Global. ISBN 978-1-7998-7795-0.
  39. ^ K Jha, Suman (29 April 2019). "Byju's Group: The World Is His Classroom". Businessworld. Archived from the original on 2 May 2019. Retrieved 2 May 2019.
  40. ^ Balaji, Sindhuja (11 March 2018). "How Are India's Biggest EdTech Startups Winning Students? By Treating It Like A Game". Forbes India. Archived from the original on 20 July 2019. Retrieved 4 May 2019.
  41. ^ "BBC World News - India's Game-Changers, Byju Raveendran". BBC. Retrieved 8 October 2022.
  42. ^ Nair, Roshni (22 November 2017). "Byju's looking at regional languages and international markets for growth". bestmediainfo.com. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  43. ^ J., Anand; Hector, Dearton Thomas (9 March 2018). "Why ed-tech startup Byju's will build, not buy, for its global expansion". VCCircle. Archived from the original on 2 May 2019. Retrieved 2 May 2019.
  44. ^ Russell, Jon (17 December 2018). "Byju's targets global expansion for its digital education service after raising $540M". TechCrunch. Archived from the original on 5 May 2019. Retrieved 2 May 2019.
  45. ^ "Disney. Byju's Early Learn App Now Offers Learning Programs For Kindergarten Kids In India". 3 June 2020. Retrieved 15 June 2020.
  46. ^ "Byju's to build a blended-learning Future School based on WhiteHat Jr Success Story". CIOL. 9 April 2021. Retrieved 19 April 2021.
  47. ^ Abrar, Peerzada (8 April 2021). "Indian edtech giant Byju's expands globally, launches Future School". Business Standard India. Retrieved 19 April 2021.
  48. ^ "WhiteHat Jr founder Karan Bajaj quits a year after acquisition by Byju's". The Economic Times. Retrieved 8 October 2022.
  49. ^ "Byju's to launch 500 physical tuition centres as edtech firm ramps up blended learning". Moneycontrol. 17 February 2022. Retrieved 10 March 2022.
  50. ^ Simhan, T. E. Raja (18 February 2022). "Byju's Tuition Centre to hire nearly 4,000 teachers this year". www.thehindubusinessline.com. Retrieved 10 March 2022.
  51. ^ Sayan Chakraborty (4 July 2017). "Byju's buys Pearson's TutorVista, Edurite in push for global expansion". Mint. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  52. ^ J Vignesh (3 July 2017). "*Byju's acquires TutorVista, Edurite from Pearson". The Economic Times. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  53. ^ Dhamija, Anshul (3 July 2017). "Byju's acquires TutorVista and Edurite from Pearson". Forbes India. Retrieved 4 May 2019.
  54. ^ Govind, Deepti (19 January 2019). "Byju's acquires US-based Osmo for $120 million, also Toppr". Mint. Archived from the original on 5 February 2019. Retrieved 4 May 2019.
  55. ^ Gooptu, Biswarup. "Byju's parent buys WhiteHat Jr in $300m cash deal". The Economic Times.
  56. ^ Bhalla, Tarush (17 September 2020). "Byju's buys virtual simulation platform LabInApp". mint. Retrieved 5 July 2021.
  57. ^ Sil, Debarghya (18 September 2020). "Edtech Giant Byju's Acquires Virtual Lab Simulation Platform LabInApp". Entrepreneur. Retrieved 5 July 2021.
  58. ^ "Byju's acquires Unitus-funded edtech start-up LabInApp". @businessline. 17 September 2020. Retrieved 5 July 2021.
  59. ^ Upadhyay, Harsh (18 February 2021). "Exclusive: Byju's acquires Mumbai-based doubt clearing platform Scholr". Entrackr. Retrieved 19 February 2021.
  60. ^ Shah, Sneha; Peermohamed, Alnoor. "Byju's to acquire Aakash Educational Services in nearly $1-billion deal". The Economic Times. Retrieved 6 April 2021.
  61. ^ "Byju's to Pay $1 Billion for Blackstone-Backed India Tutor". Bloomberg.com. 12 January 2021. Retrieved 18 January 2021.
  62. ^ "Byju's acquires US edtech firm Epic in $500-million deal". The Economic Times.
  63. ^ "Byju's Acquires Education Platform Great Learning For $600 Million". NDTV.com. Retrieved 27 July 2021.
  64. ^ Bhalla, Tarush (7 September 2021). "Byju's takes over Gradeup in its 8th acquisition of the year". mint. Retrieved 10 September 2021.
  65. ^ "Byju's acquires online exam preparation platform Gradeup". The Economic Times. Retrieved 10 September 2021.
  66. ^ Phadnis, Shilpa (17 September 2021). "tynker: Byju's acquires US kids coding platform for $200 million". The Times of India. Retrieved 18 September 2021.
  67. ^ "Byju's acquires coding platform Tynker for $200 million in US expansion push". TechCrunch. 16 September 2021. Retrieved 18 September 2021.
  68. ^ Padmanabhan, Arun. "Byju's acquires Austria's math platform GeoGebra in $100 million deal". The Economic Times. Retrieved 18 December 2021.
  69. ^ Rai, Joseph (23 February 2022). "Byju's-owned upskilling platform Great Learning buys recruitment firm Superset". Livemint. Retrieved 23 February 2022.
  70. ^ Prince Mathews Thomas (29 March 2018). "An entrepreneur at heart, Ranjan Pai is the new king of India's healthcare industry". Moneycontrol.com. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  71. ^ "Forbes India - Byju's Raises $150 Million From Qatar Investment Authority, Owl Ventures". Forbes India. Retrieved 30 April 2022.
  72. ^ a b Vignesh, J; Chanchani, Madhav (14 March 2018). "Here's how edutech startup Byju's quietly turned into a unicorn company". The Economic Times. Archived from the original on 24 March 2018. Retrieved 24 March 2018.
  73. ^ Pitchiah, Vijayakumar (11 December 2018). "CPPIB, General Atlantic & others back Byju's in Naspers-led mega funding round". VCCircle. Archived from the original on 11 April 2019. Retrieved 4 May 2019.
  74. ^ Olivia Solon (22 September 2016). "Priscilla Chan and Mark Zuckerberg aim to 'cure, prevent and manage' all disease". The Guardian. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  75. ^ "Byju's Raises $50M Co-led by Chan Zuckerberg Initiative". The Wall Street Journal. 8 September 2016. Archived from the original on 21 October 2016. Retrieved 4 May 2019.(subscription required)
  76. ^ Gauri Bhatia (8 December 2016). "How this start-up shrugged off a slowdown and snagged cash from Mark Zuckerberg". CNBC. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  77. ^ Anupam, Suprita (14 March 2018). "The Rise Of India's Billion-Dollar Club: Edtech Startup Byju's Turns Unicorn". inc42.com. Retrieved 4 May 2019.
  78. ^ "Mary Meeker's Bond backs Indian online learning startup Byju's – TechCrunch". TechCrunch. 25 June 2020. Retrieved 26 June 2020.
  79. ^ "Byju's closes $800 million pre-IPO fundraise at a valuation of $22 billion". The Economic Times. Retrieved 12 June 2022.
  80. ^ "BCCI announces Byju's as Indian cricket team's new sponsor for three-year period". Firstpost. 25 July 2019. Retrieved 7 November 2020.
  81. ^ Jose Hector, Darlington (9 June 2017). "Byju's on way to turn India's first education based unicorn, CEO [Byju Raveendran] on how he turned it into mammoth online venture". The Financial Express. Archived from the original on 24 March 2018. Retrieved 4 May 2019.
  82. ^ U N, Sushma (16 April 2018). "After turning exam prep into a booming business, India's newest unicorn is going global". Quartz India. Archived from the original on 16 April 2018. Retrieved 4 May 2019.
  83. ^ "Byju's ups revenue to Rs 490 cr in FY 18, drops losses by half". The Economic Times. 10 January 2019. Archived from the original on 2 May 2019. Retrieved 4 May 2019.
  84. ^ "Byju's is now a decacorn with the latest investment from Mary Meeker's BOND". Business Insider. 26 June 2020. Retrieved 28 June 2020.
  85. ^ "കേരള ബ്ലാസ്റ്റേഴ്സിൻെറ ടൈറ്റിൽ സ്പോൺസറായി ബൈജൂസിനെ പ്രഖ്യാപിച്ചു". malayalam.samayam.com (in Malayalam). Retrieved 7 November 2020.
  86. ^ "Byju's raises $200 mn in fresh funding; valuation surges to $12 bn". Business Standard India. 21 November 2020. Retrieved 27 March 2021.
  87. ^ "Byju's secured $460M in Series F Funding round". Online Churn. Retrieved 30 March 2021.
  88. ^ "Saverin's B Capital, Others Invest $1 Billion in India's Byju's". Bloomberg.com. 10 April 2021.
  89. ^ "Byju's raises another $50 million led by IIFL". the economic times. etech.
  90. ^ "Exclusive: Byju's Valuation Touches $21 Bn Post Chan Zuckerberg & Google Founder's Office Investment". Inc42 Media. 15 November 2021. Retrieved 13 January 2022.
  91. ^ Abrar, Peerzada (11 March 2022). "Byju's CEO pumps 50% of $800 mn in latest fundraise; valuation tops $22 bn". Business Standard India. Retrieved 24 March 2022.
  92. ^ "Byju's named official sponsor of FIFA World Cup Qatar 2022". The Times of India. 24 March 2022. Retrieved 27 April 2022.
  93. ^ Mukhopadhyay, Sounak (22 March 2023). "Thousands have lost jobs in India; these layoff numbers will blow your mind". mint. Retrieved 15 April 2023.
  94. ^ "Byju Raveendran said to have infused Rs 4,000 cr of own money in firm".
  95. ^ "Byju's reports 2.3x revenue growth in FY22, reduces EBITDA loss". 4 November 2023.
  96. ^ "Lenders begin bankruptcy proceedings against India's Byju's". Reuters. 25 January 2024. Retrieved 1 February 2024.
  97. ^ "How Byju's journeyed from $22 billion to $225 million in less than two years". 12 February 2024.
  98. ^ "Indian edtech Byju's US unit files for bankruptcy in Delaware". Yahoo! Finance. 1 February 2024. Retrieved 1 February 2024.
  99. ^ Shah, Sneha (22 May 2024). "US bankruptcy court pulls up Byju's Riju Ravindran for concealing $533 mn". mint. Retrieved 31 May 2024.
  100. ^ "US Court Fines Riju Raveendran With $10,000 a Day Over Missing $533 Million". Outlook Business & Money. 1 August 2024. Retrieved 2 August 2024.
  101. ^ "Raveendran loses immediate control of Byju's as NCLT admits BCCI insolvency plea over ₹158 crore in dues".
  102. ^ "Byju's crisis: NCLT admits BCCI petition seeking insolvency proceeding against edtech firm". Business Today. 16 July 2024. Retrieved 16 July 2024.
  103. ^ "Byju's ups revenue to Rs 490 cr in FY 18, drops losses by half". The Economic Times. Retrieved 27 March 2022.
  104. ^ a b Tyagi, Gaurav (3 September 2021). "Byju's consolidated revenue grew 82% in FY20 while losses jump 30X". Entrackr. Retrieved 17 April 2022.
  105. ^ Sharma, Samidha; Mishra, Digbijay. "Byju's losses swell to Rs 4,588 crore in delayed FY21 results". The Economic Times. Retrieved 16 September 2022.
  106. ^ "Byju's posts FY22 result after 22-month delay, net loss balloons to Rs 8,245 crore". Moneycontrol. 23 January 2024. Retrieved 26 January 2024.
  107. ^ "Byju's announces social initiative to empower 5 million children by 2025". Hindu Business Line. 16 September 2020. Retrieved 14 February 2022.
  108. ^ "Byju's launches new initiative to encourage digital learning". The Times of India. 20 November 2020. Retrieved 14 February 2022.
  109. ^ "Byju's to replace Oppo on Team India jersey". Business Today. Archived from the original on 25 July 2019.
  110. ^ "കേരള ബ്ലാസ്റ്റേഴ്സിൻെറ ടൈറ്റിൽ സ്പോൺസറായി ബൈജൂസിനെ പ്രഖ്യാപിച്ചു". malayalam.samayam.com (in Malayalam). Retrieved 7 November 2020.
  111. ^ "Byju's named as official sponsor of FIFA World Cup Qatar 2022". The Indian Express. 24 March 2022. Retrieved 4 April 2022.
  112. ^ "Digitally deprived & divided". Tribuneindia News Service. Retrieved 12 October 2021.
  113. ^ "Hard sells and 'toxic' targets: How Indian edtech giant Byju's fuels its meteoric rise". Rest of World. 30 August 2021. Retrieved 12 October 2021.
  114. ^ Chengappa, Sangeetha (15 April 2021). "Why Byju's did not meet $150-million net profit target in FY21". @businessline. Retrieved 12 October 2021.
  115. ^ "WhiteHat Jr drops Rs 20 cr defamation suit against critic Pradeep Poonia". Business Today. 4 May 2021. Retrieved 12 October 2021.
  116. ^ "IIT engineer says corporates not above freedom of speech after WhiteHat Jr withdraws defamation case against him". Free Press Journal. Retrieved 12 October 2021.
  117. ^ Bhushan, Ratna (28 October 2020). "Byju's WhiteHat Jr. agrees to withdraw ads after ASCI flags code violation". Economic Times. Retrieved 2 November 2020.
  118. ^ Chen, Benjamin; Garcia, David Cendon; Caldas, Amy Espinoza; Andrade, Beatriz; Nicholas, Kayla; Dhesi, Kiman; Costa, Luciana; Huemer, Sarah; Shekhawat, Vaidaansh (23 May 2021). Youth Economist Compilation: For the youth by the youths. Benjamin Chen. ISBN 979-8-5056-5091-2.
  119. ^ "Who Is Wolf Gupta? Byju's WhiteHat Jr Latest Marketing Gimmick Is Making Netizens Furious, Here's What We Know So Far About the 'Fictitious' Kid Apparently Working As AI Researcher at Google". Yahoo News. 12 October 2020. Retrieved 2 November 2020.
  120. ^ "WhiteHat Jr withdraws defamation case against software engineer". The Indian Express. 6 May 2021. Retrieved 18 May 2022.
  121. ^ "WhiteHat Jr drops Rs 20 cr defamation suit against critic Pradeep Poonia". Business Today. 4 May 2021. Retrieved 18 May 2022.
  122. ^ "WhiteHat Jr Data Exposed Data Due to Multiple Vulnerabilities: Report". NDTV Gadgets 360. 25 November 2020. Retrieved 18 May 2022.
  123. ^ Mishra, Digbijay. "Government airs concerns over complaints against edtech companies". The Economic Times. Retrieved 19 July 2022.
  124. ^ "Govt Expresses Concern Over Alleged Malpractices By BYJU's, Other Edtech Companies". Outlook India. 15 July 2022. Retrieved 19 July 2022.
  125. ^ Mishra, Digbijay; Sharma, Samidha. "Byju's audited revenue may be lower than projected by edtech unicorn". The Economic Times. Retrieved 9 October 2022.
  126. ^ a b Cornish, Chloe; Singh, Jyotsna; Ruehl, Mercedes (3 October 2022). "How a teaching app feted by Silicon Valley was left chasing the Indian dream". Financial Times. Retrieved 8 October 2022.
  127. ^ "Byju's: The unravelling of India's most valued start-up". BBC News. 10 July 2023. Retrieved 10 July 2023.
  128. ^ "Byju's Advisory Panel Suffers Blow as Kumar, Pai Exit Amidst Legal Turmoil". Bru Times News.
  129. ^ Bureau, The Hindu (22 February 2024). "ED issues fresh look-out notice against Byju Raveendran". The Hindu. ISSN 0971-751X. Retrieved 23 February 2024. {{cite news}}: |last= has generic name (help)

[1]

[edit]
  1. ^ Smartdekho (3 November 2024). "How 8 students helped Byju's build his edtech business - Smartdekho". Smartdekho. Retrieved 3 November 2024.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Byju%27s&oldid=1265869631#TutorVista"