- BYJU’S has over 30 million downloads & 2 million plus paid subscriptions
- The learning platform is also building a product for the international market
- It now plans to introduce its content material in regional languages
Byju’s has tripled revenue to ₹1,430 crore in the year ended March 31, the company said on Thursday.
The Edtech company also claimed it had already turned profitable on a full-year basis, without disclosing the exact profit numbers. Last year, Byju’s had reported a loss of ₹29 crore on revenues of ₹490 crore in FY18. The company said growth came after the company penetrated deeper into the Indian market and growing its paid user base to 2.4 million from 1.26 million in June 2018.
The company additionally claiming to have turned worthwhile on a full year foundation without disclosing the precise determine. It now plans to introduce its content material in regional languages, transferring past simply English and Hindi.
Byju’s claims to have already reached a monthly run rate of ₹200 crore due to high renewal rates, which on average are at 85% with some grades exceeding the 90%-mark. The company claims it is on target to touch revenues of nearly ₹3,000 crore in the current financial year.
“We are witnessing significant growth in the number of students learning from us, and today, more than 60% of our students are from outside the top 10 cities. This high adoption rate is a very clear indication that online learning is fulfilling a crucial need and is here to stay,” said Byju Raveendran, CEO of Byju’s.
BYJU’S had launched their app along with learning resources for grades between VI and XII by 2015. In 2016, it also raised investment from the Chan-Zuckerberg initiative and became the first Asian firm to do so. Its K5 app that focuses on fifth and sixth-grade students came out in 2017.
While it is structured as a revenue-share model with the media giant, Byju’s plans to expand into new regions such as the United States, UK and Australia on the back of Disney’s universal appeal.
The learning platform is also building a product for the international market. “At present, our major focus is on getting the K-3 app (for lower grades 1st, 2nd & 3rd grades) ready for launch in 2019,” said Byju’s COO, Mrinal Mohit.
BYJU’S has over 30 million downloads & 2 million plus paid subscriptions and is now planning to launch its learning app in languages including Gujarati, Tamil and Marathi.