Byju's is an Indian multinational educational technology company headquartered in Bengaluru, India. It was founded in 2011 by Byju Raveendran and Divya Gokulnath. Byju's is the world's most valuable education technology company. After raising $ 1 billion in 2021, Byju's has a market valuation of $ 15 billion.
History
Byju's app was developed by Think and Learn Private Limited, founded in 2011 by Byju Raveendran and Divya Gokulnath. Raveendran, trained as an engineer, started coaching students in 2006 to pass the mathematics exam. In 2011, he and his wife founded an educational company with the help of its students offering online video-based learning programs for the competitive exams and the K-12 section. In 2012, Think & Learn entered both the Deloitte Technology Fast 50 India and Deloitte Technology Fast 500 Asia Pacific ratings and has been there ever since.
In August 2015, after 4 years of growth, the firm launched Byju's: The Learning App.
In 2017, Think and Learn launched Byju's Math App for children and Byju's Parent Connect app to help parents track their child's learning curriculum. As of 2018, it had 1.5 crores (15 million) users and 900,000 paid users. In July 2019, Byju's won the sponsorship rights for the jersey of the Indian cricket team in place of his former sponsor Oppo. Byju's brand ambassador is Shahrukh Khan.
Products and Services
Byju's is an education tutoring app that runs on the freemium model, with free access to limited content for up to 15 days after registration. It was launched in August 2015, offering educational materials for students from classes 4 to 12. And in 2019 the elementary education program for classes 1 to 3 has started. It also trains students for examinations like IIT-JEE, NEET, CAT in India. IAS, and international examinations such as GRE and GMAT.
Academic topics and concepts are explained with a 12–20 minute digital animation video. Byju's reports to have a combined total of 4 crores (40 million) users, 30 lakh (3 million) annual paid subscribers, and an annual retention rate of about 85%. In 2019, the company announced that it would launch its app in regional Indian languages. It also plans to launch an international version of the app for English-speaking students in other countries. Recently, Byju's has also launched new programs for kindergarten students in its Early Learn app. In April 2021, the company also announced the launch of "BYJU'S Future School" under the leadership of Whitehat Junior founder Karan Bajaj. Future School aims to cross the bridge from passive to active learning through storytelling with an interactive learning platform mixed with coding and other disciplines such as mathematics, science, English, music, and fine arts. Byju's will launch Future Schools in the USA, UK, Australia, Brazil, Indonesia, and Mexico in May.
Acquisitions
In July 2017, Think & Learn acquired Tutorvista (including Adurite) from Pearson.
In January 2019, Byju's acquired US-based Osmo, a manufacturer of educational games for children between the ages of 3 and 8 for $ 120 million.
Byju's also acquired Indian startup Whitehat Jr. for $ 300 million.
In February 2021, Byju's acquired Mumbai-based Dout Clearing Platform Scholr.
In April 2021, Akash Educational Services Ltd., the test prep firm was acquired by Byju's in an estimated $950 million in cash and stock deals. As part of the deal, the founders of Akash and the Blackstone Group will receive a minority stake in Byju's.
Fun Fact about Byju's- It was the first company in Asia to receive an investment from Chan-Zuckerberg Initiative, abbreviated sometimes as CZI(co-founded by Mark Zuckerberg and Priscilla Chan).
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Byju's won the rat race for remote learning, but we can't ignore his dedication for teaching