- After getting funded by Tiger Global Management, our favorite ed-tech start-up Byju’s is now valued at $8 billion.
- Byju’s posted a net loss of INR 28.65 crores in 2018.
- This year revenues jumped to INR 1341 crores up from 490 crores a year ago.
- Our ed-tech start-up is the only profitable internet company that was previously valued at $5.5-5.7 billion in July last year.
- According to Tracxn, Byjus has raised $97 million across multiple rounds.
- In 2016, Byjus went profitable.
New-York based investment giant Tiger Global Management has a diversified portfolio (of Indian start-ups) where they have injected millions and millions of funds.
Recently, the investment giant has injected $200 million in our ed-tech start-up Byjus. With this round of investment Byju’s valuation now stands at $8 billion.
Think and Learn which own and manages Byju’s the learning app for K-12 situated in Bangalore is backed up by quite a few investors like Qatar Investment Authority, Owl Ventures (San Francisco based), General Authentic, Naspers, Sequoia Capital, Lightspeed Ventures, CPPIB, Times Internet and a few more.
Nobody thought that there will be an ed-tech market that will be ruled by Byjus. The reason being, Indian parents still carry a mentality that children learn better in traditional classrooms rather than eyeing on videos on the internet.
But with time, Byjus was able to change this perception and became the market leader in the ed-tech ecosystem. None of its competitors are able to catch up with this giant’s growth speed.
Byjus being owned by Riju Ravindran & Divya Gokulnath have a 35% stake in their company and is active players. Though Byjus started with traditional classroom methods, and slowly and gradually they became the ed-tech giant.
Company forecasts revenue of approx. INR 3000 crores in this financial year and with Tiger Global Management by their side, hopes are even high. However, where and how these funds will be utilized is not disclosed by the ed-tech giant.
In June last year, Byju’s along with Walk Disney jointly rolled out a learning app for 6-8-year kids with Disney’s amazing characters, and graphics making tutorials simple, interesting and worth learning.
Byju’s began as a K-12 learning app, but slowly they diversified into competitive exams as well. A number of paid users on Byjus are approx. 2.8 million while the company claims to have around 40 million users.
Pre 2000, nobody thought that education (and many other things) can be brought online and they have the potential to adversely affect traditional business models. With the ed-tech market blooming up there are several other players like Vedantu, Khan Academy and others.
Slowly and steadily attitudes and perceptions of Indian parents have changed and now every working household makes sure to get subscribed to Byju’s learning app so that their children can also experience the world of ed-tech and grasp everything they can.
All in all, it’s wonderful news for us, for the youth, for Byjus as well as for the ed-tech market! With new year kicking off, we are seeing Indian start-ups are reaching heights like anything. Most importantly, Tiger-Global Management is on investing spree, especially in Indian start-ups.
