Byju’s is one of the famous Indian multinational educational technology companies. BYJU’s Headquarters are situated in Bangalore. The BYJU’s company was founded in 2011. The names of the founders are Byju Raveendran and Divya Gokulnath. The valuation of Byju’s is $22 billion as of 2022. BUJY’S company has more than 150 million registered users. As of 2023, BYJU’S net worth is 5.1 billion.
|Name of the company||BYJU’S|
|Names of the founders||Byju Raveendran and Divya Gokulnath|
|Product||The learning app|
The Think and Learn Pvt. Ltd developed BYJU’S app. Byju’s Raveendran and Divya Gokulnath are the founders of the company. Byju Raveendran is a professional engineer who taught mathematics to students since 2006. At the time of the company’s beginning, they focused on offering online-based learning videos containing learning programs for the K-12 segment and competitive exams. After one year of starting, the company reached Deloitte Technology Fast 50 India. The company got a Deloitte Technology Fast 500 Asia Pacific rating the same year. The rating has remained till the middle of 2015.
After 2015, the company launched BYJU’S Learning App for students willing to learn various things. In 2017, the company launched BYJU’S mathematics application for kids. At the same time, the company’s founders launched another application called BYJU’S Parent Connect Application.
After launching the applications, a vast amount of people started using the Application as they all understood the benefits of using these applications. BYJU’S Applications help the students learn and help the parents connect so they can discuss. Within a few years, in 2018, BYJUS got more than 15 million users, and 900,000 of those were paid users. In the same year, BYJUS achieved more success by becoming India’s first edtech unicorn.
It was found that 60% of students of BYJUs users were from rural cities and Consortium. In early 2022, BYJU’S Company collaborated with Simplilearn, Udemy, Preplnsta Prime, Vedantu, and upGrad to become the best founding member of IAMAI’s India EdTech consortium.
In March 2022, BYJU’S Founder signed a contract with Qatar Investment Authority. This contact is to establish a new EdTech company and an R&D centre in Doha.
In the middle of 2022, the Ministry of Corporate Affairs sent a letter to BYJU’S company. The letter’s subject is to explain the non-filling of the company’s audited financials for the year ending March 2021, according to the report of Bloomberg News. The BYJU’S Company showed that the 17-month delay was due to the challenge of compressing the accounts of the company’s acquisitions by that time. Still, Deloitte provided the company with a clean audit.
At the end of November, many employees of the company came with various complaints about the company’s unfair treatment. In 2023, BYJUS company fired more than 5,000 employees. In the middle of 2023, the Enforcement Directorate announced that the company had organized searches at BYJUS offices under the Foreign Exchange Management Act.
Products and Services
The Products and Services Provided by BYJU’S
BYJUS provides an educational application for students. The Application is accessible free of cost after registration for 15 days. This educational Application was launched in the middle of 2015. This educational Application offers educational content for students from class 4 to class 12.
In early 2019, the Application started offering the contents from class 1 to class 3. Students who have already passed class 12 can also use this Application as it covers the study materials for competitive examinations such as NEET, IAS, IIT-JEE, and international exams like GMAT and GRE.
When you come to use the Application for your study, you will understand how easy process to understand each topic as all the academic subjects and concepts are explained within a short time, such as 10 to 12 minutes. It uses digital animated videos to make the concept understandable.
Because of the animated videos, the students learn in a self-paced mode. According to the report provided by BYJUS, they have 40 million users, where 3 million being paid users. The annual rate is nearly 85%. In October 2018, people from the United Kingdom and other English-speaking countries got access to BYJU’s Learning App.
In 2019, BYJU’S Owner announced that they are ready to launch an application in regional Indian languages. The company has another plan, which is they are planning to launch an international version of the Application for students who only know English language. The BYJUS company launched new programs for their early Learn application.
In 2021, the authority of BYJUS company announced their next step in launching BYJUS Future School for the students. Karan Bajaj, the founder of WhiteHat company, will lead BYJUS Future School. All these learning will be given with an interactive learning platform mixed with coding and other subjects such as English, Music, Science, Mathematics, and fine arts via storytelling.
BYJUS plans to launch their Future School in other countries such as the United Kingdom, United States, Australia, Mexico, Indonesia and Brazil in May. The primary objective of the educational company is to accept a hybrid model of teaching and learning by launching five hundred centres in 200 cities in India. As per the report of February 2022, the company has already established 80 centres.
|Aakash BYJU’S Login||Login|
|BYJU’S Headquarters||4/1, Bannerghatta Main Road, Tower D, IBC Knowledge Park, Bengaluru|
|BYJU’S Customer Care Number||+91 924 133 3666|
Achievement of BYJU’S
In the middle of 2017, Think and Learn achieved TutorVista from Pearson. In early 2019, BYJUS company received American-based Osmo. Osmo designs educational games for children who are between 3 and 8 years, old for $120 million. The company also acquired Indian startup WhiteHat Jr. for $300 million. In September 2020, the educational game design company gained access to virtual lab simulation LabinApp. In early 2021, The best educational company achieved a doubt-cleaning platform, Mumbai-based.
BYJUS expects annual revenue of $300 million from foreign markets per financial year. In the middle of 2021, the best educational company achieved a Singapore-based higher education platform. Great learning cost at $600 million. In September of 2021, one of the best educational companies acquired two startups, including the online test preparation platform Gradeup, though the price is not yet disclosed. The company has rebranded BYJUs exam prep and an American-based coding platform, Tynker, for $200 million. In late 2021, It achieved GeoGebra, and the cost is $100 million in cash and stock markets. At the beginning of 2022, the famous learning company received a superset. It is a Bengaluru-based campus recruitment platform.
The great educational company BYJUS spent nearly $2.8 million on a dozen acquisitions to increase it’s original learning application. So that the company can bring together their services. These services allow them to reach learners of all ages. For instance, the company has expanded its services into exam preparation, higher education MOOC tests, and tuition centres.
In addition, the company has achieved various additional platforms. These platforms offer virtual reality, educational gaming services, and artificial intelligence.
Financials and Funding
Financials and Funding of BYJU’S
The seed funding for BYJUs came from Aarin Capital in 2013. In 2019, the company has likely secured $785 million in funding from BYJU’S Investors. Investors of BYJU’S include Chan Zukerberg Initiative, Qatar Investment Authority, Sequoia Capital India, Tencent, Sofina, Lightspeed Venture Partners, Verlinvest, IFC, Naspers Ventures, CPPIB and General Atlantic.
BYJUS is the first company in Asia who receive investment from the Chan Zukerberg Initiative. The company became the unicorn valued at $6,505 crore as of March 2018. In the middle of 2020, the educational company received the decacorn status with an investment that the Bond capital of Mary Meeker led. The amazing thing is within 2022 of March, BYJUS raised $800 million and reached BYJUs net worth of $22 billion.
In September 2022, the company became the title sponsor of the India National Cricket Team replacing OPPO as the title sponsor. The well-known educational company operates roughly on a premium business model. In this model, users need to subscribe to most of the content.
In 2017, the company generated revenues of nearly 260 crores. In 2018, it doubled its revenue, which is 520 crore. In the middle of 2020, the company had become Decacorn at a $10.5 billion valuation.
In November 2020, the renowned educational company took on the role of title sponsor of the Indian Super League club Kerala Blasters FC by replacing Muthoot Group. In late 2020, the company garnered $200 million in a new funding round led by BlackRock and T. Rowe, where the Byjus’s Valuation was $12 billion.
In April 2021, BYJUS got investment from Baron Funds, XN investment, and B capital. In the middle of 2021, the company scored $50 million in a Series F round from IIFL’s private equity fund and Maitry Edtech. In October 2021, the company reached $296 million because it was part of its series F round from Oxshott Venture Fund, XN Exponent Holdings, Verition Fund Management, Edelweiss Group, and MarketX Ventures.
In March 2022, BYJUS raised $800 million in funding with the contribution of BlackRock, Byju Raveendran, Sumeru Ventures, and Vitruvian Partners. In the same month, the great educational company was named one of the official sponsors of the 2022 FIFA World Cup.
Philanthropy of BYJU’S
In September 2020, the educational, private company launched the Education for All initiatives for all kids. Under “Education For All” initiatives, the company launched BYJUS Give in Late 2020. Under this initiative, the company collects old devices for refurbishing purposes. After that, it loads the devices up with BYJUS content for free and then distributes them to children who need to access the internet.
Criticism About BYJU’S
The most preferred educational company, BYJUS, got criticism for changing fees that only people can afford. The authority of BYJUS filed a Rs. 20 crore defamation in 2020 against critic Pradip Poonia, a software engineer. Later, the authority of BYJUS withdrew the lawsuit.
Advertising and Sales
WhiteHat Jr., a supplementary of BYJUS, was asked to erase their 5 TV advertisement by the Advertising Standards Council of India because they were misleading advertisements and hard sales tactics. According to WhiteHat Jr., a child named Wolf Gupta bagged job cost crores in multiple social media advertisements. As per the report, the child’s age is between 6 years to 14 years. Later, it was revealed through an investigation that all was fabricated. On 24 June 2022, a meeting was conducted regarding excessive sales practices and intricate marketing strategies made by EdTech companies, especially Byju’s.
Accounting practices of BYJU’S
Earlier, the authority of the company used various revenue recognition practices that the authority of the company had to change and obtain approval according to Indian Accounting Standards 115 guidelines. As of September 2022, BYJU’S started recognising streaming revenue across usage. However, it was earlier recognised entirely upon the beginning of the contract.
Crime Allegations Against BYJU’S
In April of 2023, the Indian authorities organized a raid on the Bengaluru office due to suspicious violations of foreign exchange laws. The company assured all its employees of the laws. In May, the company faced a lawsuit from the United States court. The lawsuit alleged issues about payments and branches of the loan agreements, including delays in releasing financial statements.
Sports Sponsorships of BYJU’S
In the middle of 2019, BYJU’S sponsored the Indian Cricket Team jersey. After that, in late 2020, the company again replaced the Muthoot Group. Then, It started giving the sponsorship to the Indian Super League and club Kerala Blasters FC. In March of 2022, the BYJU’S company was announced as the sponsor of the official FIFA World Cup Qatar 2022.
|Byju’s Brand Ambassador||Lionel Messi|
IPO and Share Price
|Byju’s Share Price||NA|
|Byju’s IPO||To be Announced|
|Byju’s Revenue||INR 2,280 Crores|
BYJU’s Net Worth has increased in the last few years because of some large investments. Abu Dhabi and Tencent organizations invested more than $3 billion in BUJY’S company. Because of large investments, the educational company succeeded in expanding its services and designing new Byju’s Products to strengthen its market position.
BYJU’S learning application is presently very famous. More than 100 million users have registered in 2022 most of them paid subscribers. As of 2023, BYJU’S net worth is $5.1 billion.
|Net Worth 2019||$785 million|
|Net Worth 2020||$200 million|
|Net Worth 2021||$460 million|
|Net Worth 2022||$22 billion|
|Byju’s Net Worth 2023||$5.1 billion|