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BYJU’s secures the acquisition of an AR based company from the US

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BYJU’S is an edtech company which is one of the biggest in India. It has close to zero competition and the services it offers are unique to other applications. It teaches students of all age something or the other. This field is vast and there is a lot to exploit but not all can exist in this business. Once there is a player in this field and is doing well then it is very hard for anyone else to enter. It was founded by Divya Gokulnath and Byju Raveendran.

The total market for Edtech in India is huge. The company has around 30 million monthly users on the application. Apart from this, there are around 2 million paid users. The revenue generated after posting such numbers in the subscription game was around $69.4 million which is about INR 490 crore that is also a 97% rise from the previous year. The company is now targeting an INR 1400 crore revenue in the current financial year.

In that case, BYJU’s had a stupendous 2018. It managed to raise a lot of money last year and most of it was from new investors. It raised almost $540 million in funding which was led by Naspers, a South African powerhouse. This took the company’s worth to $4 billion, it rose to that figure within months. It had huge investments in the company and the money invested was put to fruit by BYJU’s. The edtech company has expanded its business and is looking at new avenues.

It recently acquired an Augmented Reality game-making company. Osmo is based in the US in Silicon Valley. It makes AR games for children of a certain age group. This acquisition was a bit confusing as BYJU is not looking to foray into the gaming side of the technology. However, it was later revealed by the Indian company that it wants to tap the physical-to-digital technology and also the content. This will increase the array of its current services it offers.

The numbers of the acquisition are not massive but Oslo sold themselves for $120 million which is around (INR 854 crore). The company was founded by Pramod Sharma and Jerome Scholler in the year 2013.

That said, BYJU’s currently offers services such as learning programs for school going students of grades IV-XII. It also has learning lessons for students preparing for various entrance exams. The competitive exams are vastly popular in India and the students studying for it are hungry for all kinds of lessons. That said, BYJU’s offers lessons in the field of JEE, NEET, CAT, GRE, IAS, and GMAT as well. These are some of the major entrance exams in India.

-Unmesh Phule

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