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<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>Indian <keyword id="7907919" type="UNKNOWN" weightage="20" keywordseo="edtech-unicorn">edtech unicorn</keyword> Byju’s will feature on Team India’s jersey.</li><li><keyword id="1731609" type="COMPANY" weightage="20" keywordseo="Oppo">Oppo</keyword> had bagged the sponsorship rights until March 2022 by paying ₹10.79 billion.</li><li>Byju’s had recently reported profitability, and joins Paytm and Bira91 who have been sponsors associated with cricket. </li></ul>In a big move, Indian edtech unicorn Byju’s is set to have its name on the <keyword id="8675" type="ORGANIZATION" weightage="20" keywordseo="Indian-cricket-team">Indian cricket team</keyword>’s jerseys. It will replace Chinese phone maker Oppo. As Team India heads for its West Indies tour beginning on August 3, it will be the last time Oppo will feature on the jersey, according to IANS. Following that, the South Africa tour in September will feature Byju’s. Gone are the days when it was only MNCs had the ability to sponsor the ‘always under spotlight’ Indian cricket matches. From Paytm to Bira91 and now Byju’s, from the Indian startup ecosystem managed to garner global attention with advertisements, endorsements and sponsorship. In March 2017, Oppo had won the sponsorship rights for five years by paying ₹10.79 billion. According to reports, Byju’s will pay the same amount until 2022. “Basically, what Oppo has done is cut its losses. They've re reassigned the rights to <keyword id="6384897" type="UNKNOWN" weightage="20" keywordseo="byjus">Byju's</keyword>. They will pay Byju's a minor amount to help make the full payment while Byju's will pay the BCCI,” a source told <a href="https://timesofindia.indiatimes.com/sports/cricket/news/byjus-to-replace-oppo-on-team-india-jersey/articleshow/70370926.cms">TOI.</a> In May 2019, Byju’s had reported that it had turned profitable. The startup’s revenue tripled to reach ₹14.3 billion in the financial year ending March 2019. Its paid user base had increased from 1.26 million in June 2018 to 2.4 million in May 2019.

Byju’s will take Oppo’s place on the Indian cricket team's jersey

<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

<ul><li>The Indian <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> unicorn has raised $150 million from <keyword id="6437412" type="UNKNOWN" weightage="20" keywordseo="Qatar-Investment-Authority">Qatar Investment Authority</keyword> and Owl Ventures. </li><li>Its reported valuation now stands at $5.7 billion.</li><li>This is QIA’s first primary investment in India.</li></ul>Byju’s, India’s first edtech unicorn, has secured an investment of $150 million from <keyword id="6355203" type="LOCATION" weightage="20" keywordseo="qatar">Qatar</keyword> Investment Authority and Owl Ventures. According to <a href="https://www.business-standard.com/article/companies/byju-s-confirms-investment-from-qatar-investment-authority-raises-150-mn-119071000421_1.html">reports</a>, Byju’s is now valued at $5.7 billion. Qatar Investment Authority is the sovereign wealth fund of the State of Qatar, who have been investing since 2005. In India, it has investments in real estate, Airtel and Flipkart. However, Byju’s is the first primary investment made by QIA in India. “Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally. High adoption and 85% annual renewal from small towns and cities shows increasing acceptance of digital learning as a primary tool for learning at home,” said <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>, Founder &amp; CEO, Byju’s in a <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/qatar-investment-authority-leads-a-150-million-investment-round-in-byjus/articleshow/70153452.cms">statement. </a> Raveendran further said that with this new partnership they will explore newer markets. Byju’s had raised ₹2.14 billion in March 2019 from NY-based General Atlantic and Chinese VC firm Tencent. In May 2019, the startup had announced that it had turned profitable, thanks to an increase in the number of paid users, at 2.4 million. This number has doubled since last year, when it stood at 1.26 million in June 2018.

Byju’s raises $150 million from Qatar government’s investment fund

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

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Byju’s will take Oppo’s place on the Indian cricket team's jersey

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Byju's turns profitable as millions pay for its classes

Sanchita Dash

Byju’s raises $150 million from Qatar government’s investment fund

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