The start-up which generated a revenue of ₹2,800 crores in FY 2020 is backed by marquee investors.
Byju’s has clinched the title of being the most valued ed-tech startup in the country, currently valued at $13 billion. Following its acquisition of Akash educational institute for a Billion US Dollars, Byju’s is planning to launch its IPO in the market before April 2023. Going public is a clear next step for the company’s growth.
The start-up which generated a revenue of ₹2,800 crores in FY 2020 is backed by marquee investors like Yuri Milner, Mary Meeker, Chan-Zuckerberg Initiative, Sequoia Capital, Tiger Global, Tencent, among others.
Founded in 2011 by Raveendran and Divya Gokulnath, Byju’s has 5.5 million annual paid subscribers, and over 80 million students overall engaging with the app, along with an annual renewal rate of 86%. From April to September 2020, Byju’s has added 45 million new students to the platform. In 2019, the company declared it would launch its app in regional Indian languages.
Source: Business World
