Who hasn’t heard about BYJU’S fabulous ways of imparting learning? When you miss out on something in a classroom or somehow find it difficult to grasp a subject an app like this can come as a boon.
BYJU’S has become India’s largest Edtech company. An app that creates the largest network of K12 learning (4-12 standard) along with many competitive exams coverage such as JEE, NEET, CAT, IAS, GRE, and GMAT. It is a highly engaging, effective, and adaptive learning platform.
BYJU’S was launched in 2015 and has been on the rise since then. It has confronted major growth and is a preferred and loved app for education by students across the globe. Every age group is benefitted from its education programs. Their original content is not only interesting but also innovative with up to date animation technologies, interactive simulations, and worth-indulging video sessions. It has hired some of India’s best teachers.
BYJU’S tagline is “Fall in love with learning”
BYJU’S Standing Currently
BYJU’S is standing at 500,000 annual paid subscriptions today along with the addition of 40,000 students every month and over 10 million downloads. The average time spent by a student on this app is around 40 minutes per day from 1700+ cities. The company is standing upfront on their aim of making learning easy and enjoyable. The success story of this company is just beginning here, with annual renewal rates as high as 90%. Byju’s has made digital learning so fun and easy to grasp with the usage of visual and 3D techniques, it’s impossible not to appreciate it’s experience. It is invented to adapt with every person in their unique learning styles.
Who is Byju Raveendran?
Have you heard this name before? If you haven’t, we are sure you have already read about the famous Edtech company named BYJU’S.
The founder of this growing startup Byju Raveendran has become the youngest billionaire in India with $2.3 billion worth of wealth as listed by Forbes 100 Richest people list of 2020.
Raveendran is from Kerala. He was working as a service engineer in a multinational shipping firm before beginning BYJU’S. However, his passion was always teaching which led him to start Byju’s.
Byju’s recent funding
As the unpredicted fall of Covid-19, schools worldwide have been shut, this gave BYJU’S Business a push. BYJU’S took this opportunity to make content on it’s learning app free for all students. The platform has seen humongous growth in the last year.
- This Bengaluru based company was able to raise a new round of funding from the first-ever female-founded VC firm ‘Bond’. However, the amount of funding wasn’t disclosed. Bond has invested the first time in India, however, its co-founders have invested in Spotify, Square, Peloton, DocuSign, Uber, and many others.
As per Byju’s founder Byju Raveendran.
“This partnership is a testament to the role that Byju’s is playing in helping students learn better by customizing our platform to their abilities. It also demonstrates the rising global interest in education technology as digital learning becomes increasingly accepted and embraced”.
- More funds were co-founded by the writer of the influential ‘Internet Trends’ report and former Kleiner Perkins member, Mary Meeker. The total amount was $1.25B.
Mary Meeker, General Partner at BOND said “Endorsed by millions of students, Byju’s has emerged as a clear leader in education technology. We are excited to support a visionary like Byju and his team in their quest to continue to innovate and shape the future of education.”
- Byju’s became an attractive magnet in it’s initial phase and became the first company in Asia to raise fundings from Chan-Zuckerberg Initiative, which is a joint initiative by Facebook founder Mark Zuckerberg and his wife Priscilla Chan
- In the fresh financing round of Silver lake, a U.S. based private equity fund recently, Byju’s raised $500 million.
What do you know about BYJU’S acquisitions?
In a deal with undisclosed value in September 2020, BYJU’S acquired LabInApp which is a startup having lab-like simulations specifically designed for science students.
Will Poole, Managing Partner at Unitus Ventures said “Acquisition of LabInApp by Byju’s during a global pandemic exemplifies the growth story of innovative ed-tech solutions. Unitus remains steadfast in mentoring early-stage start-ups applying advanced technology to meet the needs of India’s lower-income populations.”
Recently, Byju’s acquired famous new coding startup Whitehat Jr in a deal of $300 million.
How Byju’s Started
Raveendran was always a brilliant student who cracked CAT exam with 100% but was never interested in joining institutions like IIM. Instead, he started teaching students mathematics. He began taking math workshops for free and gradually started charging a fee after gaining some confidence. He became so popular via his teachings that his workshop once recorded 20000 students participation.
The idea of recording his workshops occurred to him in 2009. The idea of starting Byju’s was seeded in Raveendran’s head by his former IIM pass out students. ‘Think and Learn Pvt Ltd’ was created to provide content to schools. Later in 2015, he finally launched Byju’s- The Learning App which became popular in the first year itself with a recorded download by 5.5 million people.
Byju’s business model
Does all this high revenue generation seem dreamy to you? Are you also wondering how Byju’s is reaching heights?
Byju’s is earning its revenue in three ways:
- The major source of Byju’s learning is via it’s learning app where students have to buy a subscription to continue after 15 days of the free trial period. The app also offers a variety of other course options, test materials, entrance exam coaching, etc.
- The second way of revenue generation is Byju’s tablets, which they sell along with a course package, curated with all the videos, quizzes, and other study materials for the course opted.
- The last and least utilized way is classroom learning which till now is limited to certain cities only.
Does Byju’s have any major business competitors?
What’s a big start-up without competition right?
With a rapid increase in digitalization and e-learning platforms, approaches towards education. are fast evolving. This has brought up many start-ups like Byju’s in the education technology market. However, not every tech-experience is equally amazing as Byju’s is providing. Byju’s is leading in this business as of 2020. Some of its top competitors are Meritnation.com, Vedantu, Teachable, Khan Academy, Simplilearn, Schoolwise, and Toppr.
Every Startup is small initially but the intuitive approach, quality products, and right ideas can make a start-up famous worldwide. Just as it happened with BYJU’S. It all seems dreamy but gathers tons of effort and hard work by a dedicated team.
Anyone who has determination and zeal can create their success. Success comes to those who work hard for it.