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<ul><li>Since the beginning, BYJU’S secret has been to focus on engagement and effectiveness. It has made learning fun for students by adding videos, interactive media, and gamification on its platform.</li><li>It all started when Byju Raveendran, Founder and CEO, identified a gap between how the concepts are learned and how it should be learned by students in India. </li><li>BYJU’S plan now is to ‘expand to international markets, achieve scale and build a global brand while simultaneously working on creating learning programs in regional languages to provide access to quality content and teachers to the students even in the remotest parts of the country.’ </li><li>Mrinal Mohit, Chief Operating Officer and Head of Sales and Marketing, BYJU’S shares his vision for making the platform an industry leader, content marketing mantra, and revenue goals for the year. </li></ul>For a relatively non-existent segment that started shaping up a decade ago, BYJU’S has come a long way in a short span of time. India has around 3500 edtech startups and BJYU’S has an edge for it is the fourth-highest valued company -- placed at $5.7 billion. BYJU’S added 40 million registered users onto its platform and 2.8 million paid subscribers this year; nearly doubling from 1.26 million in June 2018. It also became profitable in 2018 – cut down its losses by over 76% to ₹8.8 crore from ₹37.1 crore. It is now eyeing to be a ₹3000 crore brand by end of the fiscal year. It is all set to become the leader of edtech industry. The company plans to do so by adding more regional languages, spreading awareness around its platform with omni-channel approach, and deeper penetration across India. Mrinal Mohit, Chief Operating Officer and Head of Sales and Marketing, BYJU’S – The Learning App shares the secret of achieving fame so soon, advantages of tying up with cricket tournaments, developing a brand from scratch on the back of strong marketing tools, leveraging the strength of population by going deeper in markets, revenue goals, and much more. Excerpts: How has the year been so far for BYJU’S? Earlier in the year you announced that you had become profitable, a first in the consumer internet start-up space. What helped you achieve this, which is no mean feat? At BYJU’S, we understood the challenges the ecosystem faces and one of the key challenges we could address immediately and effectively is the method with which students consume knowledge and information. We began the journey with conviction and understood the potential to bring in transformational change with respect to the format for interaction and learning. The core challenges traditional education formats face are (a) good teachers are hard to find at scale (b) ability for personalization is limited (c) format of learning (rote memorization vs. wanting to learn). Our approach from a content creation perspective has always been to focus on engagement and effectiveness i.e., if it will be useful to students and it will be used by students. We approach subjects by first identifying concepts and curriculum that need to be covered and then identifying the best mode to teach these concepts be it through video, gamification or interactive media. With over 40m downloads, 2.8m paid users, and average engagement time ~ 71 minutes, our approach, both in terms of engagement and effectiveness, has been received positively by students, parents and education providers which is helping propel our growth. We have been fortunate to reach scale relatively quickly due to our student and learning-focused approach and are increasing year-on-year which is helping us achieve progressively higher earnings, enabling us to invest more organically in improving engagement and effectiveness in the product. There is no real playbook for success here and our approach has been based on first principles, especially since this was a relatively non-existent segment a couple of years ago. Everything we learnt was first hand – from business model tinkering, expansion, to raising funds. BYJU’S has been aggressively marketing itself in the recent past, be it the advertising during this year’s world cup or replacing Oppo to find a place on the jerseys of Indian players. As a learning company, we have always recognised the critical role that sports play in a child's development. They teach you unmatched life-skills and crucial lessons like teamwork and collaboration. Cricket is the heartbeat of India and as a platform, gives us unmatched reach to even the deepest parts of the country. Our focus is to go deeper into India and make better learning experiences accessible to students who need it the most. We are thrilled about being the jersey sponsors of the Indian Cricket Team. Just as cricket inspires a billion budding dreams across India, we too as a learning company hope to inspire the love of learning in every child's heart. What kind of investments are you keeping aside for marketing this year? Your FY18 advertising spends was up 77% at Rs 188.5 crore. What kind of money did you spend in the current financial year? What was the percentage increase? During our campaigns around cricket matches, we have noticed a big spike in the number of downloads we see. In fact, our last set of advertisements with Shah Rukh Khan received the highest recall among celebrity endorsements during the 2019 ICC World Cup Cricket, according to a survey by the Indian Institute of Human Brands (IIHB). Our daily organic downloads are close to 50,000-60,000 and the marketing expenditure has gone up over the year, on the back of an increase in revenue. However, the cost of customer acquisition has dropped to 25%. For digital, we use a combination of channels including display, banner besides advertising on YouTube. Additionally, we also use TV, print and outdoor. What role has advertising played in cementing a place in the hearts and minds of Indian consumers? Our advertisements celebrate the power of visual learning and is aimed at helping our end users understand how it could be beneficial for them. TV has helped us reach out to our primary and secondary customers - i.e.; children and their parents, across geographies. Advertising on TV has primarily helped us with customer acquisition, i.e. increased downloads, while we have specifically used print medium to explain the how and the why of the app to our target audience. From the very beginning, we were able to measure the ROI from our ad campaigns, through downloads, subscriptions, etc. Our campaigns were based solely on where the product stood at a certain time and if it made sense for us to scale up or reach out to a wider audience then. We are very paranoid about the performance of an ad; if we see it performing well, we are ready to invest. There is a direct link in how downloads spike with ad campaign releases. With regards to mediums, we have seen that TV when used simultaneously with social media amplifies our ROI. Hence, we also share timely and relevant communication across our social media handles to reach out to a large set of audience and create awareness about our brand offerings. Considering you had taken on Shah Rukh Khan as an ambassador pretty early on in your journey. You also roped in actor Mahesh Babu to target Telangana and Andhra Pradesh. How did this help in winning your consumer’s trust? It was great to have Mahesh Babu and Mohanlal associate with us and spread the message that conceptual and life-long learning is far superior to learning by rote. We believe that every region, especially in South India, is really unique and it is crucial that we customize our message to truly gain mindshare here. Both the ad campaigns highlighted evolving learning habits of students and celebrated the long-term benefits of conceptual understanding. Our TVCs were specially targeted at the Telangana and Andhra Pradesh and Kerala respectively to connect with parents and help them understand real, tangible benefits of technology powered learning. The core objective of our TVCs was to address the apprehension among parents and show them the real advantage of learning through a product like the BYJU’S Learning App. Mahesh Babu and Mohanlal’s immense popularity and credibility amongst parents and children in the respective regions made them a perfect fit for our brand. What kind of uptake has BYJU’S been seeing among parents and children? Can you share some user figures with us, and where do you aim to take this number to, in the next few years? Today we have over 40 million registered users and 2.8 million paid subscribers; nearly doubling from 1.26 million in June 2018. The average number of minutes a student spends on the app has increased from 64 minutes to 71 minutes everyday from across 1700+ towns/cities. More than 60% of our students are from outside the top 10 cities. But there is still a long way to go before we call this a learning revolution. India today has the largest K-12 education system in the world, with around 300 million school going population. Going forward, there will be a strong focus to further accelerate our reach and create awareness about digital learning in deeper parts of India. This is one segment where the real fun is not in creating a billion dollar company, but in creating a billion thinkers and learners. When you launched the platform, what was your vision? How has that vision evolved over the years? What BYJU’S stands for now for you and what is the BYJU’S of the future? The main idea behind starting BYJU’S was to make learning accessible, effective, engaging and personalized for everyone. We noticed that there was a huge gap in the way students learn and how concepts should be learnt. In a traditional, face to face learning set up, access to high-quality education and personalization of learning has always been an issue. In our system, children are still getting trained to solve questions and not ask questions. Learning happens because of fear of exams, and not for the love for learning. Students memorize and forget after exams. The need of the hour is for a product that brings the childlike curiosity back in students and makes them look forward to learning something new everyday. When we launched, learning was not actively taking place through digital media, even though children were browsing on the internet and watching videos online. This medium was not viewed as a reliable learning source. We have managed to change that and have created and established the ‘app learning’ segment. Our vision is to now be viewed as not just a ‘digital learning’ medium but the leaders of the ‘learning at home’ segment. By 2020, we would like to transform into a learning at home platform. Everything a student needs to learn at home, BYJU’s will be able to provide that. You are looking at expanding to international waters now. Can you throw some light on your strategy to navigate these markets? When can we expect you to launch and are there markets other than the US and the UK that you are considering currently? We are in the process of building a product for international markets. Our recent acquisition of Osmo, the US-based award-winning playful learning system, is also aimed at bolstering our international plans to innovate, explore and set new benchmarks for tech-enabled personalized learning solutions. Currently, there are no products like the BYJU’S learning app which can reach out to such a large number of students and create great engagement at the same time. We strongly believe that such a product can come out of India. The market opportunity is huge and we believe our product can create the kind of engagement one has never seen before What kind of growth have you been witnessing? What kind of growth do you hope to achieve this year and what are the factors that will help you achieve it? In terms of revenue, the company has been growing at 100% year-on-year for the last 3 years and have tripled our revenue to INR 1430 crore in FY 18-19 and also turned profitable on a full year basis. We are estimating a revenue of over INR 3000 crore this year. Today we have over 40 million registered users and 2.8 million paid subscribers. Our numbers and growth over the past few years speak for themselves. Where will the next phase of growth for BYJU’S come from? While our focus is to expand to international markets to help achieve scale and build a global brand, we are also working on creating learning programs in regional languages to provide access to quality content and teachers to the students even in the remotest parts of the country. We have also launched language switch option in Hindi, that will not only help in on boarding the platform but also help gain a better foothold in English. Going forward, there will be a strong focus to further accelerate our reach and create awareness in deeper parts of India. We are also working on creating learning programs in other regional languages. The availability of BYJU’S learning programs in multiple vernacular languages will make quality learning accessible for children in every nook and corner of the country and fulfill their aspirations of building better lives. Tell us a bit about your partnership with Disney and what more can we expect out to this partnership? Can we expect some more similar partnerships with other global players too? The Disney.BYJU’S Early Learn app is specially crafted for young children aged between 6 to 8 years old (classes 1- 3) in India. This app offers personalized learning programs while entertaining them with Disney’s timeless stories and characters from Disney Princess, Frozen, Cars, Toy Story franchises and more. BYJU’S pedagogy and content expertise are enhanced by the compelling storytelling of Disney in this app and provides a strong head start to the way young children learn their first concepts in India. The Disney. BYJU’S Early Learn App offers a first-of-its-kind integration of offline to online learning experience through BYJU’S acquired Osmo platform. Where do you want to see Byju’s three to five years from now? Our vision is to be one of the largest education brands in the world. While starting a mission company is easy, sustaining a mission-led organization is challenging. The market needs standardized education and new methodologies/formats to be introduced so as to engage students. To move from the traditional classroom system where teaching is one-way traffic to the one where teachers are facilitators of learning and also, mentors for discussions in classrooms is essential. At BYJU’S, we have made small strides in this direction and with increased traction we believe this is possible in the near future.

BYJU’S envisions to become the leader of ‘learning at home’ category; targets ₹3000 crores revenue this year

<ul><li><keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>’s net worth stood $1.91billion. </li><li>His fortune from 21% stake his namesake ed-tech startup — Byju’s. </li><li>The startup has been growing at a breakneck speed with its revenue climbing to ₹1,430 crore in FY19</li></ul>Byju Raveendran is the newest entrant into Forbes rich list of 2019. “There are six new faces this year, including Byju Raveendran, the 38-year-old founder of fast-rising edtech unicorn Byju’s,” <a href="http://www.forbesindia.com/article/india-rich-list-2019/india-rich-list-2019-mukesh-ambani-dominates-adani-kotak-make-big-gains/55657/1">wrote</a> Naazneen Karmali from Forbes Asia. The other new faces include Manohar Lal and Madhusudan Agarwal of Haldirams, Rajesh Mehra of Jaquar, and Samprada Singh of Alkem Laboratories. <a href="http://www.forbesindia.com/lists/india-rich-list-2019/1807/all">Byju Raveendran’s net worth stood $1.91billion</a>. His fortune from 21% stake his namesake ed-tech startup — Byju’s. He recently joined<a href="https://www.bloomberg.com/news/articles/2018-12-17/india-s-byju-s-raises-540-million-in-naspers-backed-funding"> India’s billionaire club</a> — thanks to the latest round of $150 million funding from Qatar Investment Authority (QIA). The startup has been growing at a breakneck speed with its revenue climbing to ₹1,430 crore in FY19, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/byjus-claims-to-have-tripled-its-revenues-to-rs-1430-crore-in-fy19/articleshow/69590594.cms">according to an Economic Times report.</a> Here's Byju Raveendran’s journey from a school teacher to becoming India’s youngest self-made billionaire: 
	
	
	
	<div type="Slideshow" msid="70550887" hostid="261" title="The remarkable journey of Byju Raveendran from a teacher to a billionaireThe remarkable journey of Byju Raveendran from a teacher to a billionaire" firstImageMsid="70551027" slideCount="6"></div>

Byju Raveendran is the newest face on the Forbes list of 100 richest Indians

New Delhi, Jan 9 () Ed-tech major BYJU'S on Thursday said it has raised an undisclosed amount of funding from Tiger Global Management.
 While BYJU'S did not disclose the quantum of investment, sources said Tiger has pumped in USD 200 million into the company.
 "We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long term vision of creating an impact by changing the way students learn," BYJU'S founder and CEO Byju Raveendran said in a statement.
 The statement said BYJU'S launched a product for young learners (Grades 1-3) in 2019. It is also working on launching programmes in vernacular languages.
 Additionally, BYJU'S will be launching online tutoring in the coming months, it added.
 "BYJU'S has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India. We are excited to support Byju and the team," Tiger Global Partner Scott Shleifer said.
 In the past 12 months, BYJU'S has witnessed strong growth with over 42 million registered users and 3 million paid subscribers in India.
 The average number of minutes a student spends on the app has increased from 64 minutes to 71 minutes per day over the last year too and the annual renewal rates are as high as 85 per cent, the statement said.
 BYJU'S has tripled its revenue from Rs 520 crore to Rs 1,480 crore in 2018-19 and turned profitable on a full-year basis. The company said it is on track to double revenues to Rs 3,000 crore in the current financial year. SR SHW
SHW

Tiger Global Management invests in BYJU'S

<ul><li>Edtech unicorn Byju’s has turned profitable in 8 years. </li><li>The startup has reported a revenue of ₹14.3 billion for FY18-19. </li><li>It’s online paid user base now stands at 2.4 million.</li></ul>India’s first edtech unicorn Byju’s has achieved yet another of its firsts – it has reportedly turned profitable. The startup <a href="https://tech.economictimes.indiatimes.com/news/internet/byjus-claims-to-have-tripled-its-revenues-to-rs-1430-crore-in-fy19/69583803">reported</a> that its revenue has tripled to reach ₹14.3 billion in the financial year ending March 2019, though it has not shared the net profit numbers. However, these swollen revenues come at the back of increase in its paid user base, which now stands at 2.4 million. This number has doubled from last year, when it stood at 1.26 million in June 2018. The ability of this online tutorial startup to capture paying public, enabled its entry into the super exclusive profiteers club. “The growth in revenue was fuelled by deeper penetration across India and significant growth in the number of paid subscribers,” said the <a href="https://www.business-standard.com/article/companies/byju-s-turns-profitable-in-8-years-gears-up-to-enter-us-in-a-big-way-119053100043_1.html">company</a>’s statement. While it has never officially reported it, Byju’s has reached breakeven last year, within eight years of its existence. Global Ambitions It now plans to enter the global market and more specifically, the US. Recently, Byju’s acquired a US-based platform for educational games for $120 million. It is also partnering with Walt Disney to introduce a new early learning app for kids. Byju’s last <a href="https://yourstory.com/2019/03/byjus-funding-general-atlantic-tencent-2yv8bkk19e">reported</a> valuation was at $5 billion after it raised funding of ₹214 crores (MILLION) in March 2019. The investment came from NY-based General Atlantic and Chinese VC firm Tencent. The eight-year old startup was founded by a teacher named Byju Raveendran. Over the years, the startup has steadily gained popularity and had even signed bigwigs like Bollywood’s Shah Rukh Khan and Telugu superstar Mahesh Babu as brand ambassadors. See Also: <a href="https://www.businessinsider.in/byjus-and-disney-partner-to-roll-out-early-learn-app/articleshow/69532987.cms">Byju's will now teach kids using Disney characters from Frozen and Cars</a> <a href="https://www.businessinsider.in/Sachin-Bansal-rides-a-bet-on-electric-bike-startup-Ather-Energy/articleshow/69546251.cms">Sachin Bansal rides a bet on electric bike startup Ather Energy</a>

Byju's turns profitable as millions pay for its classes

While all eyes are on <keyword id="2900267" type="General" weightage="80" keywordseo="byju" source="Orion">BYJU</keyword>'s much-awaited FY21 financial results that were set to be revealed on Wednesday, the edtech major has registered nearly Rs 9,991 crore in revenues in its FY22 financial results and its core K12 education business is growing very fast, top sources have revealed. In six months from February 2022 till July 2022, the company logged Rs 6,175 crore revenue, breaking all previous sales records, three people close to the matter told IANS. This is a substantial gain from its FY20 financial report, when the company registered revenue of Rs 2,434 crore with a net profit of Rs 51 crore. BYJU's investors were ecstatic at the company's growth in the core business in the recently-concluded meeting, sources told IANS, as the company logged 50 per cent growth (year-on-year) in its core K12 India business at Rs 1,205 crore, leaving no competition anywhere near it. After getting acquired by BYJU's for $1 billion last year, <keyword id="3406091" type="General" weightage="50" keywordseo="aakash-educational-services" source="Orion">Aakash Educational Services</keyword> (AESL) has transformed into a hybrid edtech firm, expanding rapidly across the country, which is one of the key reasons behind BYJU's FY22 success. Meanwhile, after nearly 18 months delay of "ironing out the complexities", edtech major BYJU's was all set to reveal its financial report for FY21. The company had received an 'unqualified' report from auditor <keyword id="6358918" type="General" weightage="50" keywordseo="deloitte" source="Orion">Deloitte</keyword> late last month. According to sources, there may be a substantial difference between the projected sales and the audited revenue in BYJU's FY21 financial results. Last valued at $22 billion, BYJU's has so far raised over $6 billion in funding, and aims to file an IPO in the US through the <keyword id="6767232" type="General" weightage="50" keywordseo="special-purpose-acquisition-company" source="Orion">Special Purpose Acquisition Company</keyword> (<keyword id="1817616" type="General" weightage="50" keywordseo="spac" source="Orion">SPAC</keyword>) route. The company is likely to raise over $500 million (nearly Rs 3,900 crore) at a valuation of around $23 billion soon. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/amazon-moves-delhi-hc-against-1-lakh-ccpa-penalty-in-pressure-cooker-case/articleshow/94190091.cms">Amazon moves Delhi HC against ₹1 lakh CCPA penalty in pressure cooker case</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/jaiprakash-power-ventures-avassa-ferro-alloys-among-successful-bidders-for-commercial-coal-blocks/articleshow/94190360.cms">Jaiprakash Power Ventures, Avassa Ferro Alloys among successful bidders for commercial coal blocks</a>

BYJU's logs nearly  ₹10K crore revenue in FY22, tops estimates

Edtech major BYJU'S on Wednesday announced several measures to bolster its <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> business, saying that its K-10 business, which includes Toppr, <keyword id="1573710" type="General" weightage="50" keywordseo="meritnation" source="Orion">Meritnation</keyword>, <keyword id="192259" type="General" weightage="50" keywordseo="tutorvista" source="Orion">TutorVista</keyword>, <keyword id="14957" type="General" weightage="50" keywordseo="scholar" source="Orion">Scholar</keyword>, and HashLearn platforms, will now be consolidated as one business unit. To avoid redundancies and duplication of roles, the move will result in five per cent of its 50,000-strong workforce (about 2,500 people) being "rationalised across product, content, media, and technology teams in a phased manner", the company said in a statement. Aakash Educational Services and Great Learning will continue to function as separate organisations, the company said in a statement. "As a mature organisation that takes its responsibility towards investors and stakeholders seriously, we aim to ensure sustainable growth alongside strong revenue growth. These measures will help us achieve profitability in the defined time frame of March 2023," said Mrinal Mohit, CEO, BYJU'S India business. At a group level, BYJU'S said its top priority is to achieve "overall profitability by March 2023". Over the last three years, BYJU'S acquired multiple companies whose integration with its core business is now complete. BYJU'S said at the group level, it will continue to hire across all levels and will end this financial year as a net hirer. The company plans to hire a total of 10,000 more teachers in the coming year, adding to its current strength of 20,000 teachers. It said it is expanding its teams along with hiring senior leadership to further build operational strength. The company said there will also be re-targeting of the marketing budget towards more efficient growth. "Since significant brand awareness has been created in India over the past few years, there is a scope to optimise marketing budgets locally and prioritise spending to increase brand awareness in overseas markets," the company said. BYJU'S said it is also reinventing its sales model to focus more on inside sales, using video calling platforms which in turn will enhance customer experience and reduce operational costs. Multiple inside sales hubs will now be created across India from where BYJU'S sales associates will reach out to incoming leads through calls, email, and <keyword id="10296" type="General" weightage="50" keywordseo="zoom" source="Orion">Zoom</keyword> meetings. Inside sales will lead to higher customer satisfaction and lower costs. "None of these measures will have any impact on our revenue run rate," said Mohit. After six stressful and tough months, the company's Co-founder Byju Raveendran recently said that "the worst is finally over" and there is only "growth ahead" as seen in the company's FY22 financial results, where it logged Rs 10,000 crore in gross revenues. BYJU's last month paid the remaining dues of nearly Rs 1,983 crore (over $245 million) to global VC firm Blackstone in the $1 billion acquisition of Aakash. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hcl-techs-net-profit-rises-6-3-sequentially-increases-fy23-revenue-guidance/articleshow/94813269.cms">HCL Tech’s net profit rises 6.3% sequentially, increases FY23 revenue guidance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/intel-plans-major-layoffs-this-month-as-pc-sales-nosedive-report/articleshow/94813156.cms">Intel plans major layoffs this month as PC sales nosedive: Report</a>

BYJU's consolidates India business, 5% workforce to be 'rationalised' across teams

New Delhi, Dec 17 () Online education startup BYJU'S has reduced its loss to Rs 8.82 crore, while registering manifold in revenue from operations, according to regulatory documents.
Think &amp; Learn Pvt Ltd, the entity that runs BYJU'S, reduced its loss to Rs 8.82 crore in the fiscal ended March 2019 from a loss of Rs 37.15 crore in FY18, documents sourced by Paper.vc showed.
Revenue from operations also increased to Rs 1,305.92 crore in FY19 from Rs 471.18 crore in FY18, it added.
Its total income increased to Rs 1,366.98 crore in FY19 from Rs 500.21 crore in the previous financial year, the document showed.
In a statement, BYJU'S said its net revenue increased from Rs 490 crore in FY17-18 to Rs 1,341 crore with a net profit of Rs 20 crore in FY18-19. 
Its gross revenue increased from Rs 520 crore to Rs 1,480 crore.
The company statement said deeper penetration across India and significant growth in the number of paid subscribers have been the primary drivers of growth. 
In January this year, BYJU'S also forayed into the US with the acquisition of Osmo, the US-based learning platform.
"We have exceeded our financial goals that we set at the beginning of the year. Expanding our base across smaller towns and cities and introducing new products have been pivotal to our growth," BYJU'S Chief Operating Officer Mrinal Mohit said.
He added that the company's performance is a reflection of the increasing acceptance and adoption of digital learning across India. 
"With 60 per cent of our students based outside the metros, the aspiration and need for quality learning has never been higher," he said. 
Mohit said in the current financial year, the company is on track to double its revenue to Rs 3,000 crore. 
"We will also be launching BYJU'S Online Tutoring which will further accelerate growth and profitability in the coming year," he said.
Besides, the company is also planning to reach out to deeper parts of India by launching programs in vernacular languages. 
"We have always focused on sustainable growth and our efforts will continue to be on creating learning experiences that will help students become better learners. Being the world's most valuable edtech company today, we strongly believe that we have the capability to create a global product that can revolutionize learning for students across the world," he said.
BYJU'S had USD 540 million (Rs 3,865 crore) in funding in December last year. In April this year, the Naspers-backed company had crossed Rs 200 crore in monthly revenue.
Currently, its learning programmes are available in English and Hindi. It has over 40 million registered users and 2.8 million paid subscribers. SR
MKJ

BYJU'S reduces loss to Rs 8.82 crore in FY19; revenue up at Rs 1,305.92 cr

New Delhi, Feb 7 () Edu-tech major BYJU'S on Friday said it has raised an undisclosed amount of funding from General Atlantic, an existing investor in the company. While BYJU'S did not disclose the quantum of investment, sources said General Atlantic has pumped in USD 200 million (about Rs 1,420 crore) into the company. The investment is part of an ongoing funding that had seen Tiger Global invest a similar amount into the edu-tech company. The sources added that BYJU'S has raised over USD 1.3 billion and the current round values it at about USD 8.2 billion. "General Atlantic has been one of our strongest partners and this additional investment shows their confidence in our vision, growth and future. We are happy to see an ever increasing acceptance for our learning programs in small towns across the country," BYJU'S founder and CEO Byju Raveendran said in a statement. He added that over 65 per cent of BYJU'S students are from outside the top 10 cities. "This is a validation of how technology can make high-quality learning content more accessible to students, irrespective of their geographies. In fact, technology as an enabler has a lot of potential to further innovate the way in which learning can be made personalised and impactful," he said. BYJU'S has 42 million registered users and 3 million paid subscribers. Students are spending 71 minutes on the app daily and the annual renewal rates are 85 per cent. It also tripled its revenue from Rs 520 crore to Rs 1,480 crore in FY18-19, and turned profitable on a full-year basis. The company is on track to double its revenue to Rs 3,000 crore in the current financial year. BYJU'S has learning programs for students in classes 1 to 12. Currently, it is working on launching programs in vernacular languages, and will also launch 'BYJU'S Online Tutoring Program' in the coming months. SR RVK

General Atlantic invests USD 200 mn in BYJU'S

<ul><li><keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>, 37, is one of the youngest billionaires in India with a net worth of $1.7 billion. </li><li>Byju’s, which made its content available for free during the coronavirus, saw an immediate 3x increase in the number of users. </li><li>The edtech startup is in talk to raise as much as $400 million fresh capital. </li></ul>Byju’s is one of the rare Indian unicorns that will continue to bring in revenue, even during the Covid-19 pandemic. In fact, it has the pandemic to thank for a massive boost in numbers. In 2019, the founder Byju Raveendran became one of India’s youngest billionaires with a net worth of $1.7 billion, according to Forbes. And now, as the startup eyes a $10 billion valuation, 37-year old Raveendran’s net worth is set to see a jump for his 21% stake in the company. Investors are betting big on Byju’s as the startup continues to see a meteoric rise. Byju’s, <a href="https://www.businessinsider.in/business/startups/news/byjus-adds-6-million-new-students-in-a-month-after-the-nation-goes-into-a-complete-lockdown/articleshow/75009408.cms">which offered its content for free to students</a>, during the lockdown period, saw an immediate 3X increase in the number of users. As many as six million new students joined the platform in March alone. Byju’s app and website have witnessed a 150% increase in traffic in March. I<a href="https://www.businessinsider.in/business/startups/news/the-funding-chart-of-byjus-the-startup-that-gave-mark-zuckerberg-a-7x-return-on-investment-and-is-worth-8-billion/articleshow/74132786.cms">t is the third most valued unicorn in India</a> with over 50 million students using its platform. The latest round of $200 million funding from New York-based Tiger Global Management valued Byju’s at $8.2 billion. Road to $10 billion Byju’s is getting ready to enter the decacorn club — a startup with $10 billion or more valuation— which currently houses only Paytm and Oyo. If the fresh rounds of funding comes through, there will be a 20% increase in its current valuation. It will then become the second most valuable startup in the country after Paytm. According to <a href="https://techcrunch.com/2020/05/01/indian-education-startup-byjus-is-fundraising-at-a-10b-valuation/">TechCrunch</a>, Byju’s is in talks to raise as much as $400 million. It has raised more than $1.3 billion till date from investors including Facebook founder Mark Zuckerberg. While some may question that Byju’s will not be able to retain its users after lockdown ends, Raveendran is optimistic. He says Byju’s might earn <a href="https://www.indiatoday.in/business/video/india-today-e-conclave-paytm-oyo-and-byju-heads-brainstorm-tips-to-survive-the-pandemic-1675139-2020-05-06">as much revenue as</a> it earned in pre-covid time. “Since we have good fundamentals we will continue to attract investors not just from China but from all over the world. Last year, close to $11 billion flowed into Indian start-ups. Maybe 6-12 months down the line you will see investors come in. The Indian ecosystem is maturing fast,” <a href="https://www.indiatoday.in/business/story/e-conclave-brainstorm-paytm-oyo-and-byju-chiefs-on-how-start-ups-will-survive-covid-19-1675103-2020-05-06">Raveendran told India Today in a panel discussion. </a> The billionaire guru It was only a decade back, when Raveendran aced the Common Admission Test (CAT) with 100 percentile and decided to ditch his 2-year old career to open an ed tech. He wanted to become the founder of ‘<a href="https://www.rediff.com/business/interview/how-byju-built-the-worlds-highest-valued-edtech-company/20190116.htm">largest education company in the world</a>’ — a dream that might become true if things go as is. There were hardly any learning apps available when Byju’s started its operation and now it rules the online education market. Within three years into business, Byju's tripled its revenue to ₹1,430 crore in the financial year 2018-19 and also turned profitable on a full-year basis. It was also one of the handful startups to <a href="https://www.businessinsider.in/business/startups/news/byjus-vs-oyo-vs-swiggy-profit-and-loss-in-2019/articleshow/72864443.cms">report a profit of ₹20 crore in FY19</a>. It also cut down its losses by over 76% to ₹8.8 crore from ₹37.1 crore in FY18. And now, the edtech founder is only greedy for more. As India accepts the ‘new normal’ of online education, Raveendran, believes the growth that has not happened in years is going to happen in months. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/14-indian-edtech-startups-raised-funds-amid-the-covid-19-pandemic/articleshow/75667869.cms">14 Indian edtech startups raised funds amid the COVID-19 pandemic⁠</a>

Byju Raveendran – one of India’s youngest billionaires may only get richer even during the coronavirus lockdown

<ul><li>India's edtech major <keyword id="2900267" type="General" weightage="80" keywordseo="byju" source="Orion">BYJU</keyword>'s to release financial report after 18 months of delay. </li><li>Last valued at $22 billion, the edtech company faced larger scrutiny from the government over its audit reports. </li><li>BYJU's made 10 acquisitions last year for a cumulative transaction value of about $2.5 billion. </li><li>The company is likely to raise over $500 million</li></ul>After nearly 18 months delay of "ironing out the complexities", edtech major BYJU's is all set to reveal its financial report for FY21 on Wednesday, according to reliable sources. Facing intense scrutiny from the government over the long delay, the company had received an 'unqualified' report from auditor <keyword id="6358918" type="General" weightage="50" keywordseo="deloitte" source="Orion">Deloitte</keyword> late last month. According to sources, there is going to be a substantial difference between the projected sales and the audited revenue in BYJU's FY21 financial results. Last valued at $22 billion, the edtech company faced larger scrutiny from the government as it failed to submit its audited financial report. According to its FY20 financial report, the company registered revenue of ₹2,434 crore and a net profit of ₹ 51 crore. However, this time will be different as BYJU's made 10 acquisitions last year for a cumulative transaction value of about $2.5 billion, and some of those are not performing up to the mark in the hybrid world. According to people close to the matter, an 'unqualified' report from Deloitte came as a major sigh of relief for the company that has been under pressure to file its FY21 audited report amid delay and scrutiny. The last few months of delay were "unfortunate" and a clean Deloitte audit report instilled "a lot of confidence in the board members of BYJU's". The long delay alarmed the <keyword id="6376435" type="General" weightage="50" keywordseo="ministry-of-corporate-affairs" source="Orion">Ministry of Corporate Affairs</keyword> (MCA) which sent a letter to BYJU's last month, asking the edtech giant to explain the delay in filing its audit report for FY21. So far, BYJU's has raised over $6 billion in funding, and aims to file an IPO in the US through the Special Purpose Acquisition Company (<keyword id="1817616" type="General" weightage="50" keywordseo="spac" source="Orion">SPAC</keyword>) route. The company is likely to raise over $500 million (nearly Rs 3,900 crore) at a valuation of around $23 billion soon. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/apple-makes-iphone-14-series-more-climate-friendly-with-recycled-elements/articleshow/94173470.cms">Apple makes iPhone 14 series more climate-friendly with recycled elements</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/spurt-in-social-gatherings-post-covid-is-boosting-alcohol-sales-in-india/articleshow/94172508.cms">Spurt in social gatherings post-Covid is boosting alcohol sales in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/a-fire-at-an-ev-showroom-has-killed-8-several-injured-while-trying-to-escape/articleshow/94167880.cms">A fire at an EV showroom has killed 8, several injured while trying to escape</a>

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