BYJU'S

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Byju's
Industry
Founded2011; 15 years ago (2011)[1]
Founder(s)s
Headquarters
Bangalore, Karnataka[1]
,
India
Area served
Worldwide
Key people
Byju Raveendran (Founder & CEO)
Divya Gokulnath (Co-Founder & Director)[2]
ProductsBYJU’S - The Learning App
RevenueIncrease ₹2,800 crore (US$390 million) (FY 2020)[3]
Subsidiaries
Websitebyjus.com

Byju’s is an Indian multinational educational technology company, headquartered in Bangalore. It was founded in 2011 by Byju Raveendran and Divya Gokulnath.[4][5] As of June 2021, Byju's is valued at $16.5 billion, making it the most valuable Indian unicorn[6][7] and the world's most valuable educational technology company.[8][9][10]

History

Byju's CEO Byju Raveendran

Byju's' app was developed by Think and Learn Pvt Ltd, established by Byju Raveendran and Divya Gokulnath in 2011.[4][1][11] Raveendran, who was trained as an engineer, started coaching students to pass mathematics exams in 2006.[4] In 2011, he and his wife founded an educational company with the help of his students offering online video-based learning programs for the K-12 segment as well as competitive exams.[12][13] In 2012, Think and Learn entered both Deloitte Technology Fast 50 India and Deloitte Technology Fast 500 Asia Pacific ratings and has been present there ever since.[1][14]

In August 2015, after 4 years of development, the firm launched Byju's: The Learning App.[15][12][16]

In 2017, Think and Learn launched Byju's Math App for kids and Byju's Parent Connect app to help parents track their child's learning course.[17][18] By 2018, it had 1.5 crores (15 million) users and 900,000 paid users.[19][20] In July 2019, Byju's won the sponsorship rights for the Indian cricket team jersey, replacing its former sponsor Oppo.[21] Mohanlal and Shah Rukh Khan are the brand ambassadors for Byju.

Byju's subsidiary WhiteHat Jr. was asked to remove their five TV advertisements by the Advertising Standards Council of India (ASCI) due to misleading advertisements.[22] WhiteHat Jr. had created a fictional character named "Wolf Gupta" for its social media advertisements, without disclaiming that he was just a character. They often claimed his age to be between 6 to 14 years who got job offers worth crores in multiple posters.[23]

Products and services

Byju's is an education tutoring app that runs on a freemium model,[24] with free access to content limited for 15 days after the registration.[24][25] It was launched in August 2015,[26] offering educational content for students from classes 4 to 12. and In 2019 Early learning program has started for classes 1 to 3.[19] It also trains students for examinations in India such as IIT-JEE, NEET, CAT, IAS, and international examinations such as GRE and GMAT.[27]

Academic subjects and concepts are explained with 12-20 minute digital animation videos.[28][29][30] Byju's reports to have 4 crore (40 million) users overall, 30 lakh (3 million) annual paid subscribers and an annual retention rate of about 85%.[31][32] In 2019, the company announced that it would launch its app in regional Indian languages.[33][19] It also planned to launch an international version of the app for English-speaking students in other countries.[34][35] Recently, Byju's launched new programs in its Early Learn App for students of kindergarten as well.[36] In April 2021, the company also announced the launch of "BYJU'S Future School" to be led by WhiteHat Jr Founder Karan Bajaj.[37] The Future School aims to cross the bridge from passive to active learning with an interactive learning platform blended with coding and other subjects like Math, Science, English, Music and Fine arts through storytelling. BYJU'S will launch the Future School in the USA, UK, Australia, Brazil, Indonesia and Mexico in May.[38]

Acquisitions

  • In July 2017, Think and Learn acquired TutorVista (including Edurite) from Pearson.[39][40][41]
  • In January 2019, Byju's acquired a US-based Osmo, a maker of educational games for children aged 3–8 years for $120 million.[42]
  • Byju's also acquired Indian startup WhiteHat Jr for $300 million.[43]
  • In September 2020, Byju's acquires virtual labs simulation startup LabInApp.[44][45][46]
  • In February 2021, Byju’s acquires Mumbai-based doubt clearing platform Scholr.[47]
  • In April 2021, Byju's acquired test prep firm Aakash Educational Services Ltd. in an estimated $950 million cash and stock deal. Aakash's founders and Blackstone Group will receive minority stakes in Byju's as part of the deal.[48][49]

Funding and financials

Awards and nominations

Year Award or recognition Type of award Result/ranking Ref.
2017 Express IT Awards Personal Won [66]
2017 Deloitte Technology Fast 500 Asia Pacific Company 126 [67]
2016 Deloitte Technology Fast 500 Asia Pacific Company 115 [68]
2015 Deloitte Technology Fast 500 Asia Pacific Company 167 [69]
2014 Deloitte Technology Fast 500 Asia Pacific Company 329 [70]
2013 Deloitte Technology Fast 500 Asia Pacific Company 176 [71]
2012 Deloitte Technology Fast 500 Asia Pacific Company 321 [72]
2016 Wharton Reimagine Education Overall Ed Tech Award (Best Educational App) Company Won [73][74]
2016 VCCircle Awards (Education company of the year) Company Won [75][28]
2017 FT/IFC Transformational Business Awards Company Nominated [76]
2016 Future of India Awards Company Won [77]
2016 Global Mobile App Summit & Awards (Education) Company Won [78]
2010 CNBC TV18 CRISIL Emerging India Award (Education) Company Won [28]
2017 CNBC TV18 India Business Leader Awards (Young Turk of the Year) Company Won [79]
2018 Business Standard Annual Awards for Corporate Excellence Company Won [80]
2017 Amazon Web Services Mobility Awards (Established Education App of the Year) Company Won
2018 EY Entrepreneur of the Year Award (Start up) Personal Won [81]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 Soni, Sandeep (14 March 2018). "Decoding Byju's Journey From Start-up to Unicorn". Entrepreneur India. Archived from the original on 24 March 2018. Retrieved 4 May 2019.
  2. ↑ "Byju's better half". www.fortuneindia.com. Retrieved 12 March 2021.
  3. ↑ "BYJU's Revenue Grows 2X In FY20 As Paid Users Increase To 3.5 Mn". Inc42 Media. 27 May 2020. Retrieved 12 March 2021.
  4. ↑ 4.0 4.1 4.2 Rai, Saritha (21 June 2017). "Zuckerberg or Gates? Billionaires Try Opposite Paths for Online Education in India". Bloomberg Technology. Retrieved 4 May 2019.{{cite web}}: CS1 maint: deprecated archival service (link)
  5. ↑ 5.0 5.1 Jose Hector, Darlington (9 June 2017). "Byju's on way to turn India's first education based unicorn, CEO [Byju Raveendran] on how he turned it into mammoth online venture". The Financial Express. Archived from the original on 24 March 2018. Retrieved 4 May 2019.
  6. ↑ "Byju's Becomes India's Most Valued Startup At $16.5 Billion With UBS, Blackstone Funding". Moneycontrol. Retrieved 19 June 2021.
  7. ↑ "Byju's becomes India's most valued startup after $340 million funding". The Economic Times. Retrieved 19 June 2021.
  8. ↑ Raghunathan, Anu. "How Byju Raveendran Built A $5.5 Billion Business With His EdTech Startup". Forbes.
  9. ↑ "Today were the most valuable edtech organisation in the world: BYJUS". www.outlookindia.com/.
  10. ↑ "Indian edtech startup BYJU'S may be worth $15 billion in another week". Business Insider.
  11. ↑ Ghosh, Debojyoti (21 November 2020). "Byju's better half". Fortune India. Retrieved 26 March 2021.
  12. ↑ 12.0 12.1 J Vignesh (23 June 2017). "How 8 students helped Byju Raveendran build his multi-crore edtech business". The Economic Times. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  13. ↑ Anu Thomas (28 July 2016). "Overseas expansion, acquisition on Byju Raveendran's mind". The Economic Times. Archived from the original on 13 April 2018. Retrieved 4 May 2019.
  14. ↑ "Deloitte Technology Fast50 India 2017 Ranking" (PDF). Deloitte. 2017. Archived from the original (PDF) on 12 April 2018. Retrieved 4 May 2019.
  15. ↑ Gaurab Dasgupta (25 August 2017). "Reinventing the classroom, says Byju Raveendran of Byju's: The Learning App". Financial Express. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  16. ↑ "Best of 2016 apps from Google Play". naradanews.com. 3 December 2016. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  17. ↑ Dubey, Tanya (15 February 2017). "Byju's new gamified app wants to make studying Maths real fun for students". Business Insider India. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  18. ↑ Venkatesh Ganesh. "Parent connect app will track the child's learning journey, says Byju's CEO". Business Line. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  19. ↑ 19.0 19.1 19.2 Kumar, Krishna (21 March 2018). "Byju's targets Rs 1300 crore revenue next year". The Economic Times. Retrieved 4 May 2019.{{cite web}}: CS1 maint: deprecated archival service (link)
  20. ↑ 20.0 20.1 "Indian teaching startups make work for idle thumbs". The Economist. 17 February 2018. Archived from the original on 17 February 2018. Retrieved 4 May 2019.
  21. ↑ "BYJU's to replace Oppo on Team India jersey". Business Today. Archived from the original on 25 July 2019.
  22. ↑ "Byju's WhiteHat Jr. agrees to withdraw ads after ASCI flags code violation". Economic Times. 28 October 2020. Retrieved 2 November 2020.
  23. ↑ "Who Is Wolf Gupta? Byju's WhiteHat Jr Latest Marketing Gimmick Is Making Netizens Furious, Here's What We Know So Far About the 'Fictitious' Kid Apparently Working As AI Researcher at Google". Yahoo News. 12 October 2020. Retrieved 2 November 2020.
  24. ↑ 24.0 24.1 Prasad, Priya (22 March 2016). "Ed-tech startup Byju's raises $75M from Sequoia, Sofina". VCCircle. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  25. ↑ George, Ajish (12 September 2016). "Byju Raveendran: From a Malayalam school to an app with Zuckerberg funding". Malayala Manorama. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  26. ↑ Warrier, Shobha. "2 lakh to 3300 crore: The BYJU's Classes success story". Rediff.com. Archived from the original on 2 August 2018. Retrieved 4 May 2019.
  27. ↑ Ghosh, Durba (24 May 2017). "Byjus' CEO targets entry into unicorn club; aims to turn profitable in FY18". Moneycontrol.com. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  28. ↑ 28.0 28.1 28.2 28.3 Dwivedi, Vinay (13 June 2016). "Why Byju Raveendran's firm is leading in the educational technology space". The Economic Times. Archived from the original on 15 February 2019. Retrieved 4 May 2019.
  29. ↑ Karnik, Madhura (27 July 2016). "India's largest edu-tech startup was built by an engineer who aced CAT for fun—twice". Quartz. Archived from the original on 1 August 2016. Retrieved 4 May 2019.
  30. ↑ Shree, Shilpa (9 September 2016). "How Byju's fills the biggest gap in Indian education". Forbes India. Archived from the original on 31 July 2018. Retrieved 4 May 2019.
  31. ↑ K Jha, Suman (29 April 2019). "Byju's Group: The World Is His Classroom". Businessworld. Archived from the original on 2 May 2019. Retrieved 2 May 2019.
  32. ↑ Balaji, Sindhuja (11 March 2018). "How Are India's Biggest EdTech Startups Winning Students? By Treating It Like A Game". Forbes India. Archived from the original on 20 July 2019. Retrieved 4 May 2019.
  33. ↑ Nair, Roshni (22 November 2017). "Byju's looking at regional languages and international markets for growth". bestmediainfo.com. Archived from the original on 31 March 2018. Retrieved 4 May 2019.
  34. ↑ J., Anand; Hector, Dearton Thomas (9 March 2018). "Why ed-tech startup Byju's will build, not buy, for its global expansion". VCCircle. Archived from the original on 2 May 2019. Retrieved 2 May 2019.
  35. ↑ Russell, Jon (17 December 2018). "Byju's targets global expansion for its digital education service after raising $540M". TechCrunch. Archived from the original on 5 May 2019. Retrieved 2 May 2019.
  36. ↑ "Disney. Byju's Early Learn App Now Offers Learning Programs For Kindergarten Kids In India". Retrieved 15 June 2020.
  37. ↑ "Byju's to build a blended-learning Future School based on WhiteHat Jr Success Story". CIOL. 9 April 2021. Retrieved 19 April 2021.
  38. ↑ Abrar, Peerzada (8 April 2021). "Indian edtech giant Byju's expands globally, launches Future School". Business Standard India. Retrieved 19 April 2021.
  39. ↑ Sayan Chakraborty (4 July 2017). "Byju's buys Pearson's TutorVista, Edurite in push for global expansion". Mint. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  40. ↑ J Vignesh (3 July 2017). "*Byju's acquires TutorVista, Edurite from Pearson". The Economic Times. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  41. ↑ Dhamija, Anshul (3 July 2017). "Byju's acquires TutorVista and Edurite from Pearson". Forbes India. Retrieved 4 May 2019.
  42. ↑ Govind, Deepti (19 January 2019). "Byju's acquires US-based Osmo for $120 million, also Toppr". Mint. Archived from the original on 5 February 2019. Retrieved 4 May 2019.
  43. ↑ Gooptu, Biswarup. "Byju's parent buys WhiteHat Jr in $300m cash deal" – via The Economic Times.
  44. ↑ Bhalla, Tarush (17 September 2020). "BYJU'S buys virtual simulation platform LabInApp". mint. Retrieved 5 July 2021.
  45. ↑ Sil, Debarghya (18 September 2020). "Edtech Giant Byju's Acquires Virtual Lab Simulation Platform LabInApp". Entrepreneur. Retrieved 5 July 2021.
  46. ↑ Bureau, Our. "BYJU'S acquires Unitus-funded edtech start-up LabInApp". @businessline. Retrieved 5 July 2021. {{cite web}}: |last= has generic name (help)
  47. ↑ Upadhyay, Harsh (18 February 2021). "Exclusive: Byju's acquires Mumbai-based doubt clearing platform Scholr". Entrackr. Retrieved 19 February 2021.
  48. ↑ Shah, Sneha; Peermohamed, Alnoor. "Byju's to acquire Aakash Educational Services in nearly $1-billion deal". The Economic Times. Retrieved 6 April 2021.
  49. ↑ "Byju's to Pay $1 Billion for Blackstone-Backed India Tutor". Bloomberg.com. 12 January 2021. Retrieved 18 January 2021.
  50. ↑ Prince Mathews Thomas (29 March 2018). "An entrepreneur at heart, Ranjan Pai is the new king of India's healthcare industry". Moneycontrol.com. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  51. ↑ 51.0 51.1 Vignesh, J; Chanchani, Madhav (14 March 2018). "Here's how edutech startup Byju's quietly turned into a unicorn company". The Economic Times. Retrieved 24 March 2018.{{cite web}}: CS1 maint: deprecated archival service (link)
  52. ↑ Pitchiah, Vijayakumar (11 December 2018). "CPPIB, General Atlantic & others back Byju's in Naspers-led mega funding round". VCCircle. Archived from the original on 11 April 2019. Retrieved 4 May 2019.
  53. ↑ Olivia Solon (22 September 2016). "Priscilla Chan and Mark Zuckerberg aim to 'cure, prevent and manage' all disease". The Guardian. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  54. ↑ "Byju's Raises $50M Co-led by Chan Zuckerberg Initiative". The Wall Street Journal. 8 September 2016. Archived from the original on 21 October 2016. Retrieved 4 May 2019.(subscription required)
  55. ↑ Gauri Bhatia (8 December 2016). "How this start-up shrugged off a slowdown and snagged cash from Mark Zuckerberg". CNBC. Archived from the original on 12 April 2018. Retrieved 4 May 2019.
  56. ↑ Anupam, Suprita (14 March 2018). "The Rise Of India's Billion-Dollar Club: Edtech Startup BYJU'S Turns Unicorn". inc42.com. Retrieved 4 May 2019.
  57. ↑ "Mary Meeker's Bond backs Indian online learning startup Byju's – TechCrunch". TechCrunch. 25 June 2020. Retrieved 26 June 2020.
  58. ↑ "BCCI announces Byju's as Indian cricket team's new sponsor for three-year period - Firstcricket News, Firstpost". Firstpost. Retrieved 7 November 2020.
  59. ↑ U N, Sushma (16 April 2018). "After turning exam prep into a booming business, India's newest unicorn is going global". Quartz India. Archived from the original on 16 April 2018. Retrieved 4 May 2019.
  60. ↑ "Byju's ups revenue to Rs 490 cr in FY 18, drops losses by half". The Economic Times. 10 January 2019. Archived from the original on 2 May 2019. Retrieved 4 May 2019.
  61. ↑ "Byju's is now a decacorn with the latest investment from Mary Meeker's BOND". Business Insider. 26 June 2020. Retrieved 28 June 2020.
  62. ↑ "കേരള ബ്ലാസ്റ്റേഴ്സിൻെറ ടൈറ്റിൽ സ്പോൺസറായി ബൈജൂസിനെ പ്രഖ്യാപിച്ചു". malayalam.samayam.com (in മലയാളം). Retrieved 7 November 2020.
  63. ↑ "Byju's raises $200 mn in fresh funding; valuation surges to $12 bn". Business Standard India. 21 November 2020. Retrieved 27 March 2021.
  64. ↑ "BYJU'S secured $460M in Series F Funding round". Online Churn. Retrieved 30 March 2021.
  65. ↑ https://www.bloomberg.com/news/articles/2021-04-10/saverin-s-b-capital-others-invest-1-billion-in-india-s-byju-s
  66. ↑ "Express IT Awards: Byju Raveendran, a teacher who is the pupils' pet". Financial Express. 4 December 2017. Archived from the original on 1 April 2018. Retrieved 4 May 2019.
  67. ↑ "Technology Fast 500 2017 Asia Pacific Ranking" (PDF). Deloitte. 2017. Archived from the original (PDF) on 1 April 2018. Retrieved 4 May 2019.
  68. ↑ "Technology Fast 500 2016 Asia Pacific Ranking" (PDF). Deloitte. 2016. Archived from the original (PDF) on 1 April 2018. Retrieved 4 May 2019.
  69. ↑ "Technology Fast 500 2015 Asia Pacific Ranking" (PDF). Deloitte. 2015. Archived from the original (PDF) on 1 April 2018. Retrieved 4 May 2019.
  70. ↑ "Technology Fast 500 2014 Asia Pacific Ranking" (PDF). Deloitte. 2014. Archived from the original (PDF) on 1 April 2018. Retrieved 4 May 2019.
  71. ↑ "Technology Fast500 Asia Pacific 2013 Winners Report and Ranking" (PDF). Deloitte. 2013. Archived from the original (PDF) on 1 April 2018. Retrieved 4 May 2019.
  72. ↑ "Technology Fast500 Asia Pacific 2012 Winners Report and Ranking" (PDF). Deloitte. 2012. Archived from the original (PDF) on 1 April 2018. Retrieved 4 May 2019.
  73. ↑ "Educational App Award". 2016. Archived from the original on 1 April 2018. Retrieved 1 April 2018.
  74. ↑ Marsh, Natalie (14 December 2016). "LSE and Labster scoop $50k Reimagine award". Archived from the original on 1 April 2018. Retrieved 4 May 2019.
  75. ↑ "VCCircle Awards 2016". VCCircle. 2016. Archived from the original on 1 April 2018. Retrieved 4 May 2019.
  76. ↑ "Shortlists announced for 2017 FT/IFC Transformational Business Awards". Financial Times. 10 May 2017. Archived from the original on 1 April 2018. Retrieved 4 May 2019.
  77. ↑ Kavyashree, IJ (3 May 2016). "69 Entrepreneurs of India awarded for excellent Business Performances - Future of India Awards 2016". iuemag.com. Archived from the original on 1 April 2018. Retrieved 4 May 2019.
  78. ↑ "GMASA Award Winners". Global Mobile App Summit & Awards. 2016. Archived from the original on 1 April 2018. Retrieved 4 May 2019.
  79. ↑ "India Business Leader Awards: RC Bhargava, Arundhati Bhattacharya, YC Deveshwar, among winners". Moneycontrol.com. 22 March 2017. Archived from the original on 2 May 2019. Retrieved 4 May 2019.
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