Ed-tech has the potential to grow now more than ever especially in the post pandemic scenario. Learning today has no limits, and it is no longer contained to classrooms. The EdTech start-up hub has many digital E-learning platforms that have made it very easy and convenient to build our knowledge base. New Pedagogical platforms have become a booming sector where companies help students with material and digital teaching at the comfort of their home. EdTech Unicorn BYJU’S has reached millions of students with virtual learning opportunities and as a result, this EdTech company has expanded multifold.
BYJU’S is an Indian Educational technology and online tuition firm that was founded by Byju Raveendran in Bengaluru in the year 2011. In 2020, it was the highest valued Ed-tech company in the world with a valuation as high as $ 11.1 billion. They claimed that they earned Rupees 2800 crore in FY20. With around 4 crore users and 30 lakh annual paid subscribers, BYJU’s has emerged as a successful EdTech Unicorn in the start-up industry.
Earlier this year BYJU’S acquired Mumbai-based online coding platform WhiteHatJr for $300 Mn making it the largest merger and acquisition (M&A) deal in the Indian EdTech sector till date. In January 2020, they raised $200 Mn from Tiger Global, General Atlantic and Bond Capital making it the biggest funding round in the Indian EdTech Landscape. They crossed their own peak by raising $500 Mn from US-based investor Silver Lake in exchange for a 2.09% stake in the company.
BYJU’S has emerged as the biggest acquirer in the Indian EdTech space building an EdTech empire of its own with all its acquisitions. This Edtech Unicorn has also acquired US-based learning platform Osmo for $120 Mn for overseas expansion, math learning start-up Math Adventures, US-based online tutoring app TutorVista and Edurite from Pearson and student assessment platform Vidyartha. They tend to focus on acquiring start-ups with niche services in the EdTech sector.
BYJU’s is now in the late-stage talks to acquire Toppr, a rival in the K-12 space. Toppr has had several investors including Eight Roads Ventures, Helion Venture Partners, Elevation Capital and Alteria Capital. The deal is estimated to value over $150 million. This would be the third largest acquisition for BYJU’s after it acquired WhiteHat Jr for 300 million and Aakash Educational Services for $1 billion.