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Byju's

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BYJU’S - The Learning App is the popular brand name for Think and Learn Private Ltd., a Bangalore-based educational technology (edtech) and online tutoring firm.

It was founded in 2011 by Byju Raveendran at Bangalore, Karnataka, India. BYJU'S was the first investment in Asia from the Chan Zuckerberg Initiative.[1] It is considered to be one among the only few Indian consumer startups that has gone global,[2] particularly with the 2017 acquisition of TutorVista.

Products and Services

Their flagship product is a smartphone app named BYJU'S-The Learning App that has been available since August 2015.[3] The App serves educational content mainly to school students from classes 4 to 12 (primary to higher secondary level education). The company trains students for competitive examinations in India such as IIT-JEE, NEET, CAT, IAS as well as for international examinations such as GRE and GMAT.

The main focus is on mathematics and science, where the concepts are visually explained and in context [4] using modern digital animations [5] and moving illustrations, all embedded within short videos (15–20 minutes long).[6] The app has received criticism for a few issues such as lack of depth in some areas, overly simplistic treatment of some basic topics, and lack of within-lecture student-teacher interaction. BYJU'S reports to have over 15 million users overall and about nine lakh paid subscribers on an annual basis [7] and an annual retention rate of about 90%.[2]

Financials and Ownership

BYJU'S operates roughly on a premium business model where a paid subscription is required for most of the content.[4]

As of April 2018, the company has raised around $244 million.[7] The major investors and stakeholders include Chan Zuckerberg Initiative (CZI), Sequoia Capital, Sofina, Lightspeed Venture Partners, Verlinvest, Aarin Capital and Times Internet (Times of India group).[7] This was the first investment from CZI (co-funded by Facebook founder Mark Zuckerberg and Priscilla Chan) in Asia.[1][8][9]

As per the company filings with the Ministry of Corporate Affairs, BYJU’S became a unicorn and is valued at US$1 billion (INR 6,505 Crore) in March 2018.[10]

BYJU's has raised $540 million venture funds from Naspers and Canada Pension Plan Investment Board (CPPIB) in December 2018.[11]

See also

References

  1. ^ a b Heath, Alex (8 September 2016). "Mark Zuckerberg leads $50 million investment in Indian education startup". Business Insider US. Retrieved 24 November 2017. {{cite news}}: Cite has empty unknown parameter: |dead-url= (help)
  2. ^ a b Chakraborty, Sayan (21 September 2017). "Byju's: Swipe and learn from this near-unicorn". Forbes India. Retrieved 24 November 2017.
  3. ^ Warrier, Shobha. "2 lakh to 3300 crore: The BYJU's Classes success story". Rediff. Retrieved 24 November 2017.
  4. ^ a b Dwivedi, Vinay (13 June 2016). "Why Byju Raveendran's firm is leading in the educational technology space". The Economic Times. Retrieved 24 November 2017.
  5. ^ Karnik, Madhura (27 July 2016). "India's largest edu-tech startup was built by an engineer who aced CAT for fun—twice". Quartz. Retrieved 24 November 2017.
  6. ^ Shree, Shilpa (9 September 2016). "How Byju's fills the biggest gap in Indian education". Forbes India. Retrieved 24 November 2017.
  7. ^ a b c Das, Ankan (13 April 2018). "[What The Financials] With ARR Of $9.30 Mn And CAGR Of 75% - BYJU'S To Breakeven In Less Than 2 Years". Inc42 Media. Retrieved 19 April 2018. {{cite news}}: Cite has empty unknown parameter: |dead-url= (help)
  8. ^ "Byju's raises $50 m from Chan Zuckerberg Initiative, others". The Hindu Business Line. 8 September 2016. Retrieved 24 November 2017.
  9. ^ Bhatia, Gauri (7 December 2016). "How this Indian start-up shrugged off a slowdown and snagged cash from Mark Zuckerberg". CNBC. Retrieved 24 November 2017.
  10. ^ Anupam, Suprita (14 March 2018). "The Rise Of India's Billion-Dollar Club: Edtech Startup BYJU'S Turns Unicorn". Inc42 Media. Retrieved 19 April 2018. {{cite news}}: Cite has empty unknown parameter: |dead-url= (help)
  11. ^ "Bengaluru-Based Byju's Raises $540 Million From Venture Funds". Inc42 Media. 14 March 2018. Retrieved 28 December 2017.

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