Byju Raveendran started BYJU’s in the year 2011. According to Forbes’ list of India’s 100 Richest People, he is the country’s youngest billionaire, with a net worth of $3.05 billion (2020). The Learning App from BYJU was released in 2015.
Let’s have a look at how byju’s become India’s most valuable startup? and learn more about the company’s Success Story, Latest News, History, Founders, Funding, Revenue, Competitors, and Acquisitions.
Highlights of the BYJU’s Corporation
|Valuation||nearly $21 billion|
|Parent Company||Think and Learn Private Ltd|
How BYJU’s Works And About BYJU’s
BYJU’s is a Bangalore-based educational technology platform that was founded in 2011 and operates on a freemium basis. The parent firm of BYJU is ‘Think and Learn Pvt Ltd.’ BYJU’s primary objective is to provide coaching for kids in grades 1 to 12 via online video lectures, as well as for those preparing for competitive examinations such as IIT – JEE, NEET, CAT, GRE, and GMAT.
BYJU’s – the Learning app was introduced in 2015 to great success. It is utilised by over 15 million students worldwide and has a paid subscription base of 9,00,000 users. The app enables children to study independently rather than through spoon-feeding. Its approach includes a reimagining of learning, world-class faculty, tried-and-true educational approaches, and customised learning.
The Founder of BYJU’s
“Fall in love with learning,” says Byju Raveendran, the creator of BYJU’s Classes, a technology-based education business whose tagline/slogan is “Fall in love with learning.”
Byju Raveendran, the company’s founder and CEO, was born in the Kerala town of Azhikode in 1980. Government Engineering College in Kannur, Kerela, awarded him a B.Tech (mechanical engineering) in his undergraduate studies. BYJU’s founder, Byju Raveendran, worked as a service engineer for a global shipping company before to launching his own company. However, teaching was his true love, and it was this that prompted him to create BYJU’s.
How did BYJU’s get its start?
Byju Raveendran, a native of Azhikode, a small village in Kerala, worked as an engineer for a UK-based shipping company. While he was working, he began assisting his friends in preparing for the CAT exam, an entrance exam for admission to India’s top business schools. Byju also took the exam to assess himself and received a perfect score! He did not enrol in any of the IIMs but began tutoring students in mathematics.
He initially took mathematics workshops for free and then began charging a fee once he gained confidence in his abilities. At one point, his workshops were so popular that they drew more than 20,000 students. In 2009, he began filming the workshops he organised.
Former students who graduated from the IIMs encouraged him to establish BYJU. The following year, ‘Think and Learn Pvt Ltd’ was formed to create educational content for school students. In 2015, he launched Byju’s – The Learning App, which was downloaded by over 5.5 million people in its first year.
The Business and Revenue Models of BYJU’s
Byju’s operates on a freemium business model, offering both complimentary and paid (premium) services to its customers. The company requests that students submit their information via its application or website in exchange for a free 15-day trial. Once the free trial period has expired, the student must purchase the courses from BYJU’s in order to access the full content. The company mentors subscribers one-on-one and also provides feedback to the child’s parents. Additionally, BYJU’s provides classroom instruction in Noida, Gurgaon, and select other areas.
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BYJU’s makes money in three different ways:
- The first is via the app. After the 15-day free trial period, students must purchase the courses in order to continue their education on BYJU’s. The app offers a variety of test series, courses, and other features that entice users to purchase.
- BYJU’s sells electronic tablets that customers must purchase when they enrol in a course. This tablet contains all of the course’s videos, tests, practise questions, and quizzes.
- The third source of revenue is through classroom instruction. These classes are only available in a few cities.
Revenue and Valuation of BYJU’s
According to BYJU’s financial statements, the company generated revenues of Rs 490 crores in FY 2017-2018 and Rs 1,430 crores in FY 2018-2019. Firm’s revenue for the 2019-2020 fiscal year was announced on September 1, 2021.
Revenue increased by 81% to Rs 2,434 crores (FY20).
According to the latest fundraising round of $150 million, BYJU’s valuation was assessed at 16.87 billion dollars in September 2021.
The last round of investment from UBS Group, Eric Yuan, Blackstone and others valued BYJU’s at $16.5 billion in June 2021, making it India’s most valuable company.
November 2020 – BYJU’s latest $200 million fundraising round headed by BlackRock and T Rowe Price valued the company at $12 billion.
Aquisitions by BYJU’s
The BYJU’s Corporation has purchased a total of 15 businesses to far. On August 4, 2021, Byju’s bought Whodat Tech, which was the final firm he purchased. Byju’s earlier bought the e-learning app Toppr, which is used for competitive test preparation, as well as the Edtech app Great Learning, which was purchased on July 24, 2021.
BYJU’s spectacular growth
BYJU’s is a creative startup that has had great commercial success. It uses stringent marketing methods to succeed. Bollywood’s most famous celebrity, Shahrukh Khan, is the company’s brand ambassador. As a consequence of this accomplishment, the company has gained a footing in the Middle East market. BYJU intends to expand into other markets, including the US, UK, South Africa, and other nations. As part of its US expansion strategy, BYJU’s bought the learning platform Osmo in January 2019. And it’s working on an early learning app for kids in grades 1-3 with Disney.
BYJU has disclosed the company’s growth from last year. Here are some significant features to consider:
- Roughly 81% growth to around $2.4 billion in sales was seen by BYJU’s.
- Net profits rose by a whopping 152 percent in one year.
- A total of Rs 2,383 crores was spent on BYJU.
- The organization’s revenues from worldwide activities grew to Rs 306 crores, whereas in the prior fiscal year, this number was just Rs 168 crores.
Why is BYJU’s Successful?
BYJU is a Freemium company, and it works like such. The BYJU’s team’s success is due to BYJU’s exciting creative visuals, one-on-one learning sessions, and other innovative teaching techniques. BYJU’s has succeeded in merging its innovations and expertise to their target demographic.
Who are the competitors of BYJU’s?
Meritnation.com, Vedantu, Teachable, Khan Academy, Simplilearn, Schoolwise, and Toppr are BYJU’s top rivals.