A prime example of the prospering EdTech sector in India, Byju’s is now back in news with its latest acquisition of Aakash Institutes for ₹7300 crores. Wondering whether its hiring spree would come to an end or not? We certainly have no clue. In the meantime, let us look at some of its previous acquisitions.
Crux of the Matter
- Bangalore headquartered Byju’s is India’s second most valuable startup.
- Backed by Chan Zuckerberg Initiative, Tiger Management & Bond capital, Byju’s has raised over $800 million in the past 2 years.
- Byju’s was founded by Byju Raveendran in 2011, it has more than 70 million users logged in – of which 4.5 million are paid users.
Byju’s Acquires Aakash Institute
- As per Bloomberg’s Report, $12 billion worth Byju’s is set to acquire Black Stone-backed Aakash Educational Services Ltd. (AESL) for $1 billion.
- AESL runs over 200 physical classroom centres all over India with a student count of about 2,50,000.
- It specializes in preparing for the entrance exam to TIER I Engineering and Medical Schools.
- The deal which is thought to be one of the largest in the ed-tech field globally is expected to be closed in the coming two-three months.
- In the deal, the Chaudhary family (founder of AESL) will exit completely and Black Stone would swap its position for a 37.5% stake in the new entity.
Byju’s Acquired LabIn App
- Acquired Unitus Ventures-backed LabInApp for an undisclosed amount.
- LabInApp offers science lab-like simulation on mobile devices, curating interactive and immersive learning experience for students and teachers.
Byju’s Acquired White Hat Jr.
- Acquired Mumbai headquartered White Hat Jr. for the cost of $300 million.
- Founded by Karan Bajaj in 2018, White Hat Jr teaches online coding to students through live lessons and interactive classes.
Recently, White Hat Jr. was in the news for its unrealistic marketing gimmicks and data breach of personal information of minors from their servers. Read about it in detail here.
Byju’s Acquired Osmo
- They acquired US-based Osmo for $120 million. Osmo is famous for its blended learning educational games crafted for children aged 3-8 years.
- They have been pivotal in creating ‘play-based learning’ for young children. This acquisition has been at the core of Byju’s’ offering of Disney-Byju’s Early Learn.
Byju’s Acquired Math Adventures
Math Adventures helps children learn through a combination of short videos and an activity-based approach that uses workbooks and tablets.
Byju’s Acquired TutorVista & Edurite
Acquired TutorVista, Edurite from Pearson. It is one of the largest online tutoring brands catering to school and college students situated majorly out of the US.
Byju’s X Vidyartha
- Vidyartha offers a customized data-driven full-fledged assessment platform that goes beyond the report card of a student and assesses their interests, personality traits, aptitudes.
- Forms a personalized learning plan (PLP) for students with the goal of maximizing their performance and scores.
- Kota is a city located in the southeast of the northern Indian state of Rajasthan. Kota is a major coaching hub of the country for competitive examination preparations and has a number of engineering and medical coaching institutes.
- Byju Raveendran is currently in the list of top 100 billionaires of India. He was named to Fortune Magazine’s 2020 ’40 Under 40′ list under the technology category.
- K–12 from kindergarten to 12th grade, is an expression that indicates the range of years of publicly supported primary and secondary education. The first K–12 public school systems appeared in the early 19th century.