Byju's

Byju's (stylised all caps) is an Indian multinational educational

technology company, headquartered in Bangalore. It was founded Byju's
in 2011 by Byju Raveendran and Divya Gokulnath. As of
March 2022, Byju's is valued at US$22 billion[4] and has over 115
million registered students.[5]
Type Private
Industry Edtech
Contents Founded 2011[1]
History Founders Byju Raveendran
Products and services Divya Gokulnath
Acquisitions Headquarters Bengaluru,
Funding and financials Karnataka[1], India
Area served Worldwide
Philanthropy
Sports Key people Byju Raveendran
(CEO)
Criticism
Divya Gokulnath
Awards and nominations (Director)[2]
See also Products BYJU’S - The
References Learning App
External links Revenue ₹2,800 crore
(US$370 million)
(FY 2020)[3]
History Subsidiaries Osmo
TutorVista
Byju's app was developed by Think and Learn Pvt. Ltd, a (Rebranded as
company which was established by Byju Raveendran, Divya iRobot Tutor TV
Gokulnath and a group of students in 2011.[6][1][7] Byju, an STEM)
engineer by profession was coaching students in mathematics since HashLearn
2006.[6] In initial days the company focused on offering online WhiteHat Jr
video-based learning programs for the K-12 segment and for
LabInApp
competitive exams.[8][9] In 2012, the firm entered Deloitte
Technology Fast 50 India and Deloitte Technology Fast 500 Asia Scholr
Pacific ratings and has been present there ever since.[1][10] Aakash Institute
Toppr
In August 2015, the firm launched Byju's: The Learning Whodat
App.[11][8] In 2017, they launched Byju's Math App for kids and
Tynker
Byju's Parent Connect app.[12][13] By 2018, it had 15 million users
out of which 900,000 were paid users at that time.[14][15] In the Epic!
same year, Byju's became India’s first edtech unicorn.[16] By 2019, Great Learning
60% of BYJU’S students were from non-metros and rural Gradeup
cities.[17] (Rebranded as
In January 2022, the company joined Simplilearn, Unacademy, Byju's Exam Prep)
upGrad, and Vedantu to become one of the founding members of GeoGebra
IAMAI's India EdTech Consortium.[18]
Website www.byjus.com (htt
In March 2022, it signed a contract with Qatar Investment ps://www.byjus.co
Authority to establish a new edtech company and a R&D centre in m)
Doha.[19]

Products and services

Byju's is an education tutoring app that runs on a freemium
model,[20] with free access to content limited for 15 days after the
registration.[20][21] It was launched in August 2015,[22] offering
educational content for students from classes 4 to 12 and in 2019 an
Byju's CEO Byju Raveendran
early learning program has started for classes 1 to 3.[14] It also
trains students for examinations in India such as IIT-JEE, NEET,
CAT, IAS, and international examinations such as GRE and
GMAT.[23]

Academic subjects and concepts are explained with 12-20 minute digital animation videos[24][25][26] and
through which students learn in a self-paced mode.[27] Byju's reports to have 40 million users overall, 3
million annual paid subscribers and an annual retention rate of about 85%.[28][29] In 2019, the company
announced that it would launch its app in regional Indian languages.[30][14] It also planned to launch an
international version of the app for English-speaking students in other countries.[31][32] And to cater
students of kindergarten, Byju's launched new programs in its Early Learn App.[33]

In April 2021, the company also announced the launch of "Byju's Future School" to be led by WhiteHat Jr
Founder Karan Bajaj.[34] 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.[35]

The company is focusing on adopting a hybrid model of teaching and learning by launching 500 tuition
centers across 200 cities in India.[36] As of February 2022, 80 centers are already launched.[37]

Acquisitions
In July 2017, Think and Learn acquired TutorVista (including Edurite) from Pearson.[38][39][40] In January
2019, Byju's acquired American-based Osmo, a maker of educational games for children aged 3–8 years
for US$120 million.[41] Byju's also acquired Indian startup WhiteHat Jr for US$300 million.[42] In
September 2020, Byju's acquires virtual labs simulation startup LabInApp.[43][44][45] In February 2021,
Byju's acquires Mumbai-based doubt clearing platform Scholr.[46]

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.[47][48] 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.[49] 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.[50] 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[51][52] and American based coding platform Tynker for US$200 million.[53][54] In December
2021, Byju’s acquired GeoGebra in a US$100 million cash-and-stock deal.[55]

Funding and financials

Byju's received seed funding from Aarin Capital in 2013.[56] 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,[57] Verlinvest, IFC, Napsters
Ventures, CPPIB and General Atlantic.[15][58][59] Byju's was the first company in Asia to receive an
investment from Chan-Zuckerberg Initiative (co-funded by Facebook founder Mark Zuckerberg and
Priscilla Chan).[60][61][62] 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.[63][58] In June 2020,
Byju's attained the decacorn status with an investment by Mary Meeker's Bond Capital.[64] In March 2022
Byju's raised $800 million, reaching a valuation of $22 billion.[65]

In September 2020, Byju's replaced Oppo as the title sponsor of the India national cricket team.[66] Byju's
operates roughly on a premium business model where a paid subscription is required for most of the
content.[24] 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.[67][68][69] In June 2020, with the investment of
Bond, a global technology investment firm, Byju's became decacorn at US$10.5 billion valuations.[70]

In November 2020, Byju's became the title sponsor of the Indian Super League club Kerala Blasters FC
replacing Muthoot Group.[71] 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.[72] In March 2021, Byju's secured
$460m in a series F funding round.[73] In April 2021, B Capital, Baron Funds, and XN invested $1 billion
in Byju's.[74] In June 2021, Byju's raised $50 million in a Series F round from IIFL's private equity fund
and Maitri Edtech.[75] In October 2021, Byju's raised $296 million as a part of its Series F round from
Oxshott Venture Fund, Edelweiss Group, Verition Fund, XN Exponent Holdings, and MarketX
Ventures.[76] In March 2022, the company raised $800 million from Byju Raveendran, Sumeru Ventures,
Vitruvian Partners, and BlackRock.[77]
In March 2022, Byju's was named as one of the official sponsors of
the 2022 FIFA World Cup.[78]

Year Revenue (In crores) Profits/Loss (In crores)

FY 2018[79] 490 -29

FY 2019[80] 1,376 -8.82

FY 2020[80] 2,381 -262.1

Philanthropy
In September 2020, Byju's launched the “Education for All” Initiative for kids from marginalized
populations.[81]

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.[82]
Sports
In July 2019, Byju's won the sponsorship rights for the Indian cricket team jersey.[83]

In November 2020, Byju's replaced the Muthoot Group to become the title sponsor of the Indian Super
League club Kerala Blasters FC.[84]

In March 2022, Byju's was announced as an official Sponsor of the FIFA World Cup Qatar 2022.[85]

Criticism
Byju's was criticized for charging fees that only the rich can afford.[86] Former salespeople say the
company pushes its products on parents who can’t afford them.[87][88] Byju's filed a ₹20 crore defamation
suit against critic Pradeep Poonia. They later withdrew the lawsuit.[89][90]

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[91] and hard sales tactics.[92]
WhiteHat Jr. claimed that a child named "Wolf Gupta" bagged job offers worth crores in multiple social
media advertisements. This child was often described to be between the ages of 6 to 14 years.
Investigations later revealed that this was all fabricated and Mr."Gupta" is a work of fiction.[93]

Awards and nominations

 Type of
Year Award or recognition Result/ranking Ref.
award

2010 CNBC TV18 CRISIL Emerging India Award (Education) Company Won [24]

2012 Deloitte Technology Fast 500 Asia Pacific Company 321 [94]

2013 Deloitte Technology Fast 500 Asia Pacific Company 176 [95]

2014 Deloitte Technology Fast 500 Asia Pacific Company 329 [96]

2015 Deloitte Technology Fast 500 Asia Pacific Company 167 [97]

2016 Deloitte Technology Fast 500 Asia Pacific Company 115 [98]

Wharton Reimagine Education Overall Ed Tech Award (Best [99][100]

2016 Company Won
Educational App)

2016 VCCircle Awards (Education company of the year) Company Won [101][24]

2016 Future of India Awards Company Won [102]

2016 Global Mobile App Summit & Awards (Education) Company Won [103]

2017 Deloitte Technology Fast 500 Asia Pacific Company 126 [104]

2017 FT/IFC Transformational Business Awards Company Nominated [105]

CNBC TV18 India Business Leader Awards (Young Turk of [106]

2017 Company Won
the Year)

2018 Business Standard Annual Awards for Corporate Excellence Company Won [107]

2019 Deloitte's 2019 Technology Fast Asia Pacific 500™ Ranking Company 175 [108]

2019 Financial Times/ArcelorMittal Boldness in Business Award Company Won [109]

2020 Boston Consulting Group Tech Challengers Company Won [110]

2021 Time 100 Most Influential Companies Company Won [111]

See also
Course Hero
Doubtnut
Khan Academy
Vedantu

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External links
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