Mobile Internet

BYJU’s is now valued at $5 billion; thanks to Tencent and General Athletics

Byju's on phone and computer

BYJU’s is India’s top edtech company. It is one of the most coveted startups as well. The company has been doing good business for a long time and is on a hiring spree almost every other month. The marketing campaigns run by BYJU’s are also superb. The fact that the startup has signed up a Bollywood legend Shah Rukh Khan as it’s brand ambassador tells us that it takes its marketing very seriously. The numbers posted by BYJU’s are also impressive.

That said, the company has always been into edtech and now has expanded its target audience. Previously it was only school graders that could benefit from BYJU’s but now the content has reached up to a level of competitive entrance exams and a lot more than that. There is content that helps people learn matters of JEE, NEET, CAT, IAS, GRE, and GMAT exams. These exams are state and national level exams that help students get into government service and also into some of the most esteemed universities across the country.

The mentioned exams are extremely crucial to the majority of the Indian students and even working class people looking to go for higher studies. And that is the reason why the application has been successful and is bringing in a truckload of money. That said, the company also had interest from a lot of investors. There was basically a line for this company, entering a booming sector, at a very early stage, and winning.

The company was valued at $4 billion in December of 2018. South African media giants, Naspers and Canada’s Pension Plan Investment Board (CPIB) invested a whopping $540 million. Then in came Sequoia Capital and invested around $190 million which increased the valuation of the company. Fast forward to today and BYJU’s have two major investors investing in the company. Chinese media giants Tencent and General Atlantic, a private equity major.

Tencent and General Atlantic invested around $11.43 million about 10 days ago. And ten days later the duo has chipped in with another major investment of around $31 million. This latter investment was of some significance because it took companies valuation to around $5 billion. This is a huge victory for BYJU’s.

The company is roughly eleven years old. It was founded in 2008 by Divya Gokulnath and Byju Raveendran. The learning app has been taking strides in recent years and it has become one of the highest paying companies in India when it comes to freshers. The company recently acquired Osmo for $120 million. Osmo is an American learning platform.

That said, the company is growing faster than ever and given the marketplace the company is in, it is going to have huge success in the future.

-Unmesh Phule

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