Byju’s is expected to use the funds to expand its business and acquire more start-ups. Its acquisitions in the last year include Toppr, Whitehat Jr, Aakash, Gradeup, and Great Learning.
Digital learning firm BYJU’s has become India’s most valuable online start-up, being valued at $16.5 Billion after its current round of funding, surpassing Paytm’s $16 billion valuations. The valuation was based after Blackstone, ADQ, Phoenix Rising, and Eric Yuan, Zoom’s founder invested an amount totaling up to $350 Million. Other investors include General Atlantic, Naspers, B Capital, Sequoia Capital, and Blackrock.
Byju’s is expected to use the funds to expand its business and acquire more start-ups. Its acquisitions in the last year include Toppr, Whitehat Jr, Aakash, Gradeup, and Great Learning. The latter two deals have not closed yet and have been reported about earlier. Founded by educator Byju Raveendran, Byju’s valuation has doubled in the last one and a half years, when it was valued at $8 Billion in a Tiger Global round.
Owing to its acquisitions, BYJU’s today provides a plethora of educational services from toddlers attending kindergarten to high school students and those preparing for competitive exams, among others. It also has customers in the US and other developed countries, where parents usually spend a lot more on education. BYJU’s has also been one of the few profitable digital unicorns and is still growing fast.
Source: Business World