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Byju’s Acquires Toppr and Great Learning

Abdul Kadir Khan by Abdul Kadir Khan
October 11, 2021
in News
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In its regulatory filings, Byju’s has announced the acquisitions of Toppr and Great Learning. Toppr is a Mumbai based edtech startup focused on 5-12 class students education, IIT, and NEET preparations. While, Gurugram based Great Learning provides short term job oriented courses like Data Science, Machine Learning and others. It also has collaboration with universities for offering online courses.

Byju’s Buys Toppr and Great Learning

Byju’s is on an acquisition spree. As per the latest regulatory filings, Byju’s has revealed that it has bought edtech startups Toppr and Great Learning. With the current acquisitions, Byju’s has closed the deal to buy 15 startups to date.

As per the Inc42 report, both deals was finalised with $600 million. Both deals are a mix of cash and equity. After the current acquisitions, the stake of Byju Raveendran and his family has reduced to 25.5% in the Bengaluru based edtech firm as reported by internal sources.

As per Entrackr sources, it was reported that Great Learning is acquired with a deal of approximately $300-$350 million, whereas Byju’s bought Toppr with $100-150 million.

About Great Learning, Toppr and Current Deal Details

Founded in 2013 by Mohan Lakhamraju, Great Learning is known for industry-oriented courses including Data Science, Business Analytics, Cyber Security, Artificial Intelligence, and others. The startup has a collaboration with over 400+ recruiting partners to place its students.

As per the current deal agreement, Byju’s has allotted 29,324 series F preference shares to existing shareholders of Great Learning worth $100 million. LMK Holdings and Matrix Funds, the major shareholders of Great Learning received around Rs 683 crore and Rs 51 crore in return for shares swapping.

Currently, Byju’s is the most valuable Indian startup with a $16.5 billion valuation.

In June 2021, the edtech startup surpassed the valuation of Paytm to become the most valued Indian startup. Bytedance, the parent firm of Tiktok, is the most valued global startup with a $140 billion value.

Founded by IIT Mumbai Alumni Zishaan Hayath and Hemanth Goteti in 2013, Toppr provides online courses to school students. The startup also helps them to crack the entrance exams of IIT JEE and NEET. In different 11 funding rounds, the edtech firm has raised over $112 million from its investors including Kaizenvest, Foundation Holdings, WGG Internationals and others.

Byju’s has allotted $57 million preference shares to the existing seven shareholders of Toppr. In the last funding round concluded in February 2018, Toppr was valued at around $60 million.

Tags: Byjusbyjus newsbyjus the learning appToppr
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Abdul Kadir Khan

Abdul Kadir Khan

Abdul Kadir Khan is a Content Writer at Next Big Brand. Hails from UP. Postgraduate in Computer Science. Content Maniac and Trainer. Love to write about startups, Brands, and Trending Tech.

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