The coding platform Tynker and the children’s learning platform Epic, two American assets of the struggling edtech company Byju’s, were sold for a small portion of what the company had spent for them.
According to a media report, both sales were allowed by a US bankruptcy court at a hearing on May 20.
Tynker was purchased by computer science education startup CodeHS for $2.2 million in cash, which is a substantial decrease from the $200 million Byju’s paid in 2021 in a cash-and-stock transaction to acquire it.
China’s TAL Education Group has purchased Epic for $95 million. Byju’s purchased Epic in 2022 for $500 million in cash and stock.
Lenders Initiated Bankruptcy Proceedings Against Epic, Tynker and Osmo
Some members of the consortium who borrowed $1.2 billion to Byju’s reportedly petitioned a US court to begin bankruptcy proceedings against Epic, Tynker, and Osmo in June 2024, according to a media house report.
The lenders sued Raveendran, his wife Divya Gokulnath, and former business executive Anita Kishore in the United States on April 10. The three were accused in the case of conspiring to conceal and embezzle $533 million from the funds they had given to Byju’s Alpha, a special purpose financing vehicle the edtech business set up in the US to accept the loan.
Before this, a Delaware Bankruptcy Court decision found that there had been several thefts and fraudulent transfers. The lenders claim that the court also determined that Riju Raveendran, a suspended director of Byju’s Alpha Inc., had breached his fiduciary duties as a director of the US company.
Raveendran Brothers Moved to NCLT and NCLAT in India
In India, the Raveendran brothers have petitioned the NCLT and the NCLAT for the removal of the resolution professional and a stay on the committee of creditors (CoC).
This action follows actions taken by Think & Learn’s resolution professional to halt several court cases in a New York court. Concerns have also been voiced regarding the company’s continuous asset sales.
After the coaching centre operator changed its articles of association (AoA) to eliminate the reserved rights of minority investors by implementing the resolutions passed at an extraordinary general meeting (EGM) last November, Think & Learn, represented by the RP, has further claimed that its ownership stake in Aakash is being diluted.
The edtech startup BYJU’S has removed its Android app from the Play Store due to continued rumblings and insolvency procedures. A preliminary search of the Play Store yields no results for BYJU’S main app.
Three additional apps, nevertheless, are still accessible: “Think and Learn Premium App”, “TL Pay”, and “TL Collect”, which are credit processing systems. Notably, the BYJU’S app is still accessible through the Apple App Store, but it has backend problems that prevent it from using some of its essential functions on other platforms.
According to sources who spoke to a media outlet, the majority of the SEO-optimised pages on the BYJU’S website have disappeared, and current users can no longer access premium subscriptions or video material.
Website Reduced to Basic Landing Page
With essential features including free sessions (for children in classes four through nine) and the BYJU’S Early Learn programme, the edtech platform’s website has been reduced to a simple landing page and is presently displaying server failures.
According to the article, the company’s cloud infrastructure is powered by Amazon Web Services (AWS), and the disruption was caused by unpaid invoices. According to various media reports, “disruptions in payments for its services” led to the app’s removal from the Play Store.
BYJU’S has been attempting to put out fires on several fronts at the moment. The edtech business has been embroiled in a number of scandals over the last three years, including numerous rounds of layoffs, increasing losses, late financial statement filings, legal disputes, regulatory scrutiny, and more.
The company’s founders have engaged in a verbal sparring match with its creditors and investors. The largest setback occurred when the business stopped paying on its $1.2 billion term loan B (TLB) in 2023, causing lenders to file lawsuits in several different countries.
Why BYJU’s Witnessing Massive Decline?
The Board of Control for Cricket in India (BCCI) filed a case with the National Company Law Tribunal (NCLT) last year to recover INR 158 Cr in unpaid debts related to a sponsorship agreement, putting the edtech giant, which was once valued at $22 billion, in the midst of insolvency proceedings.
As more lenders joined and attempted to liquidate the business in order to recoup their unpaid debts, the situation swiftly got out of hand. Pankaj Srivastava was appointed by the tribunal as an interim resolution professional (IRP) to supervise the proceedings in the aftermath.
Even that went wrong when the tribunal ordered Srivastava to face disciplinary action in January 2025 and overturned his decision to exclude Aditya Birla Finance and GLAS Trust, which represents a group of BYJU’S TLB creditors, from the committee of creditors (CoC).
Srivastava allegedly informed the NCLT that the law firm Khaitan & Co. intimidated and threatened him to designate EY as the process advisor for the edtech firm’s probe, even though Shailendra Ajmera was named the new IRP.
As part of its ongoing legal battle with Byju’s, Aakash Educational Services Ltd. (AESL) has accused EY of professional misconduct and conflict of interest.
The main focus of the case is AESL’s governance and control problems after Byju’s failed takeover. AESL’s legal team claimed in a strongly written letter dated May 17, 2025, that EY offered advisory services to both AESL and Byju’s in a dual capacity, even though EY was fully aware of their entangled relationship.
EY was ordered to stop all activity and keep all contact records for any legal procedures by AESL, which called EY’s actions “unethical and legally untenable”.
Manipal Group Also Not Happy with EY
The Manipal Group, a major AESL stakeholder, was represented by CrestLaw Partners, who also questioned EY’s involvement in providing the group with tax, accounting, and regulatory compliance advice.
As the majority shareholder in AESL, CrestLaw wrote in a letter dated May 21 that the company would also like to note that their client, the Manipal Group, has been informed that there are significant correspondences in AESL’s records that demonstrate that EY was a constant factor in both operations and advice given to Mr Byju Raveendran, Byju’s, AESL, Aakash Choudhry, Blackstone, and our clients, the Manipal Group.
“Your involvement in the Corporate Insolvency Resolution Process (CIRP) in any way, through anyone, is a matter of considerable concern, regret and amounts to misconduct,” the statement continued.
EY responded to a media outlet by saying that it denies all accusations and takes client confidentiality and security very seriously. EY is therefore unable to provide any additional commentary on this issue.
AESL Threatens to go Legal
Sanjay Garg, the legal head of AESL, emphasised the importance of the matter and said that the organisation has enough evidence to present to any adjudicating or regulatory body to imply that participation in the CIRP process would interfere with the independent professional duties that organisations like you are supposed to carry out.
He went on to say that if EY did not understand the gravity of our point—that EY was both an advisor and a participant in many of the decisions—AESL would be forced to take the necessary action.
This comes amid a lingering legal battle between AESL and Byju’s, which started when Byju’s purchased AESL in 2021 for around $950 million in a deal that involved 70% cash and 30% equity.
The deal called for shares in Think & Learn to be distributed to the Chaudhry family, Aakash’s promoters, and the massive private equity firm Blackstone.
However, the Chaudhry family’s refusal to exchange their remaining shareholding, citing governance concerns, caused difficulties for the share transfer.
The family eventually received a legal notification from Byju’s. Blackstone, the Chaudhary family, shareholders, Ranjan Pai’s Manipal Group, and Byju’s engaged in a bitter court war for control of Aakash, which has been enmeshed in insolvency procedures for more than two years.
In a social media post, Byju Raveendran, the founder of the edtech business Byju’s, said that the company has filed a formal complaint against those participating in a criminal conspiracy against it. Resolution experts Pankaj Srivastava and Dinkar Venkatasubramanian of Ernst & Young LLP, Rahul Agarwal, executive director at Ernst & Young, Lokesh Gupta, partner at EY, and GLAS Trust, the administrative and collateral agent for a consortium of lenders, are all the targets of the FIR. In order to assist Byju’s goals for international expansion, GLAS Trust Company LLC, serving as the administrative and collateral agent for a consortium of lenders, gave Byju’s Alpha Inc., a US-based subsidiary, a $1.2 billion term loan in November 2021.
Allegations Made by GLAS Trust Against Byju’s
According to GLAS Trust, Byju’s Alpha Inc. allegedly transferred over $533 million to a US-based hedge fund through a series of wire transfers that took place in April and July 2022 at the corporate debtor’s request. GLAS Trust filed for bankruptcy against Byju’s in India under Section 7 of the Insolvency and Bankruptcy Code after the edtech company violated some loan covenants. GLAS Trust and Aditya Birla Finance Ltd were included as major financial creditors on the Committee of Creditors (CoC) that was first established by the National Company Law Tribunal (NCLT). But later on, the resolution professional (RP) eliminated both entities and reorganised the CoC. After this decision was contested, the NCLT reinstated them in January 2025, citing the RP’s wrongdoing and imposing disciplinary actions against him.
Raveendran’s Thumping Reply to GLAS
“FIR filed against those involved in a criminal conspiracy against BYJU’S: Pankaj, the RP who illegally handed over the insolvency process to Dinkar, Rahul & Lokesh from EY, who are the agents of GLAS, a collective of crooks,” Raveendran said, sharing a snapshot of the FIR filed in the X post. Raveendran posted a thumping response on social media, writing, “I am not a flower; I am the fire that will shatter GLAS.” “You have to suspend the offenders immediately if it’s the former. I will give a plethora of evidence. You have important questions to address. He shared a picture of himself from a previous event where he had won the award, writing, “It’s the least you can do to help the EY Entrepreneur of the Year 2018 & 2020.” An EY whistleblower stated on LinkedIn on February 27, 2025, that the company had backed Glas Trust and worked against Byju’s interests. Using the post as proof, Raveendran claimed that EY collaborated with Glas Trust and Srivastava to sway Byju’s bankruptcy proceedings. The firm made choices that favoured the lenders over the company’s reorganisation and had access to a document that suggested criminal wrongdoing that was distributed to specific staff members.
Byju’s Settlement with BCCI
A separate INR 158 crore debt was sought to be settled by Byju’s founders with the Board of Control for Cricket in India (BCCI). The purchase was contested by GLAS Trust, which claimed that the money utilised belonged to the lenders it represented. The Supreme Court of India declared in October 2024 that the settlement was invalid. The Apex court made this decision because the settlement did not follow the correct legal process, and it ordered that the money be placed with the CoC overseeing Byju’s bankruptcy.
The founder of the edtech company Byju’s, Byju Raveendran, has stated that failures will not determine the company’s destiny. He further noted that he pledges to revive his once-thriving business. “Broken, but not broken.” Along with an old photo of himself, Raveendran wrote on X, “We will rise again.” Due to financial crises, regulatory obstacles, and legal disputes with investors, the firm has seen a significant collapse. During its peak time, the firm was valued at an astounding $22 billion in 2022. But later BYJU’S started to falter due to investor disputes, growing debt, and a financial collapse. Byju Raveendran had been out of India since late 2023. Raveendran, who started working at X in March, talked about the company’s 20-year history. Nothing is ever as nice or horrible as they lead you to believe, the founder wrote. Usually, the reality is somewhere in the middle. He added that he is on the social media site to discuss the past 20 years, including the good 17, the bad 2, and the ugly 1. No filtering. Just the facts.
Recalling the Joyful Contributions
He further talked about Byju’s influence on the development of young professionals. He pointed out that over the course of nine years, the company had engaged 2,15,000 recent graduates. While speaking about the remuneration part, he further noted that the firm had paid them a minimum set wage of INR 6 lakh. He said that these 2 lakh new hires with no prior experience, extraordinary talent, and boundless drive created Byju’s. “They later become valuable contributors to our economy. Some started their own businesses and produced jobs. That first rare opportunity was all they needed,” he mentioned on X. “Once we relaunch our company — which I believe will happen sooner than expected — we will rehire exclusively from our incredible pool of former BYJUites,” Byju stated earlier in a post on X. Some people might think I’m insane for being so optimistic. On March 29, he wrote, “But remember, you have to be odd to be number one.”
From where the Trouble Started?
For school children, Byju’s provides online tutorials in areas like maths, physics, and chemistry. During the COVID-19 pandemic, when schools were forced to close, Byju’s business operations took off. The return of in-person classes started to hurt its fortunes, and the company’s earnings were insufficient to support its aggressive acquisitions and quick growth. The Board of Control for Cricket in India (BCCI) requested in 2023 that a tribunal begin insolvency proceedings against Byju’s. This step was taken as the firm failed to pay $19 million in unpaid debts related to sponsorship rights for the Indian cricket team’s uniforms. Byju’s and the Indian Cricket Board reached a settlement whereby the company agreed to pay the full amount, and the proceedings were quashed. As a result of the lawsuit, US lenders, who were represented by Glas Trust, petitioned the Supreme Court. The investors claimed that Byju had paid BCCI with money that was owed to them. Despite the company’s denial of mismanagement charges, the Supreme Court ordered Byju’s to go into insolvency and postponed the tribunal’s ruling.
Byju Raveendran’s remarkable journey from a humble village in Kerala to the global arena stands as a testament to the transformative power of passion, perseverance, and innovation. Through his pioneering venture, BYJU’S, he has not only revolutionized the learning experience for millions of students but also ignited a spirit of ambition among aspiring entrepreneurs. BYJU’S serves as a beacon of possibility, illustrating the profound impact visionary leadership coupled with a sincere drive for positive change can achieve.
BYJU’S has redefined traditional education methods, inspiring a generation of educators and entrepreneurs to envision a future where learning is dynamic and inclusive. Byju Raveendran’s leadership continues to drive BYJU’S forward, pushing the boundaries of educational innovation and creating opportunities for learners on a global scale. His unwavering commitment to excellence fuels the company’s mission to provide accessible, high-quality education to all.
In the ever-evolving landscape of education, BYJU’S remains at the forefront, challenging conventional norms and embracing technology-driven solutions to address the diverse needs of learners worldwide. Byju Raveendran’s vision for BYJU’S extends beyond mere academic success, it encompasses the holistic development of individuals, empowering them to thrive in an increasingly complex world.
Learn about Byju Raveendran, his education, career, family, BYJU’S, and more from this article.
Byju Raveendran was born on January 5th, 1980, in Azhikode village, Kerala, India, to Raveendran and Shobhanavalli, both teachers in Physics and Mathematics. Growing up, he attended a Malayalam medium school where his parents taught. He later pursued Mechanical Engineering at Government Engineering College, Kannur, and subsequently worked as a service engineer in a multinational shipping company.
In 2009, Byju Raveendran married Divya Gokulnath, who was one of his early students. They have two sons together.
Apart from his entrepreneurial and teaching endeavors, Byju Raveendran is also a skilled athlete, participating in six different sports including football, cricket, table tennis, and badminton at the university level. Referred to fondly as “Byju sir” by his students, he achieved a perfect score twice in the CAT exam. However, he chose not to attend any IIM.
Byju Raveendran – Early Life
In 2003, during a break, Byju Raveendran lent a helping hand to his friends preparing for the CAT exam. His remarkable performance, scoring a perfect percentile, instilled confidence in his teaching abilities. Motivated by this success, he made a pivotal decision to leave his job two years later, committing himself to aiding others in their exam preparations. Byju Raveendran embarked on his entrepreneurial journey by establishing BYJU’S Classes in 2007, initially offering free mathematics workshops. As his reputation grew, so did the demand, leading him to transition to paid workshops. The popularity of his sessions soared, with attendance peaking at over 20,000 students at a single workshop. Recognizing the potential to reach a broader audience, Byju Raveendran began recording workshop sessions in 2009, laying the groundwork for future endeavors.
Divya Gokulnath and Byju Raveendran
In 2011, Byju Raveendran joined forces with his wife, Divya Gokulnath, whom he had met during his teaching ventures, to launch BYJU’S. Their collaboration marked the beginning of a new chapter, as they expanded their scope beyond test preparation to create educational content for school students. Encouragement from former students who had graduated from prestigious institutions like IIMs spurred them on this path, culminating in the formation of ‘Think and Learn Pvt Ltd’.
Byju Raveendran – Career
In 2015, BYJU’S introduced a mobile app designed by Byju Raveendran himself, tailored for student learning on handheld devices. The app’s reach expanded globally to the UK, US, and other English-speaking nations by October 2018. By July 2022, it garnered over 150 million downloads, with users spending an average of 71 minutes daily on the platform. The app caters to students preparing for various exams in India such as IIT-JEE, NEET, CAT, and IAS, as well as international exams like GRE and GMAT.
Byju Raveendran – Journey so Far
Since its inception, BYJU’S has undergone a phenomenal journey of growth and expansion, establishing itself as a frontrunner in the global educational technology landscape. Born out of humble beginnings in Bangalore, BYJU’S has transcended geographical boundaries to become a multinational powerhouse, operating in more than 50 countries worldwide.
At the heart of BYJU’S success lies a commitment to leveraging technology to transform the learning experience. Byju Raveendran, with his keen understanding of the educational landscape, recognized the immense potential of digital platforms in revolutionizing traditional teaching methods. With this vision, he embarked on a mission to democratize education, making quality learning accessible to students across diverse socio-economic backgrounds.
BYJU’S app, conceptualized and crafted by Byju Raveendran himself, marked a paradigm shift in the way students engage with educational content. As smartphone screen sizes expanded, BYJU’S seized the opportunity to provide a convenient, on-the-go learning experience tailored for handheld devices.
In 2015, BYJU’S secured funding from prominent investors like Sequoia Capital and the Chan Zuckerberg Initiative, validating its vision and fueling its expansion.
Byju’s relentless pursuit of innovation and user-centric design propelled its rapid expansion into international markets. By October 2018, BYJU’S app had made its mark in the United Kingdom, the United States, and other English-speaking countries, cementing its position as a global player in the edtech arena. The app’s intuitive interface, coupled with engaging content, resonated with learners worldwide.
Financial milestones further underscored BYJU’S remarkable growth, with its valuation surpassing the $5 billion mark in 2019. The organization’s robust financial performance was reflected in its revenue growth and profitability, with revenues soaring from INR 490 crore in the preceding fiscal year to INR 1341 crore in 2019.
In January 2021, Byju Raveendran’s appointment as a non-official member of the National Startup Advisory Council underscored his stature as a visionary leader driving India’s entrepreneurial ecosystem forward. This recognition not only validated BYJU’S impact on the education sector but also positioned the organization as a catalyst for innovation and economic growth.
The acquisition of Aakash Educational Services Ltd. in April 2021 marked a significant milestone in BYJU’S expansion strategy, signaling its foray into the test-prep segment. With a hefty investment of nearly $1 billion, BYJU’S demonstrated its commitment to diversifying its offerings and catering to a broader spectrum of learners. The strategic acquisition provided BYJU’S with access to Aakash’s extensive network of coaching centers and expertise in exam preparation, further enhancing its value proposition in the competitive education market.
In March 2022, BYJU’S successfully concluded the funding round, securing $800 million from investors like Sumeru Ventures, Vitruvian Partners, and BlackRock. However, challenges emerged during the closing of the funding round in July 2022, with some investors citing macroeconomic reasons for their inability to transfer the agreed-upon amount.
By July 2022, BYJU’S app had amassed a staggering 150 million downloads, a testament to its widespread popularity and impact.
In July 2022, BYJU’S secured a substantial investment of $400 million during a venture capital financing round, underscoring investor confidence in its long-term vision and potential.
The organization embarked on an acquisition spree, with notable purchases including GeoGebra, Toppr, Great Learning, and Tynker. These strategic acquisitions further bolstered BYJU’S market position and product offerings, enabling it to cater to a diverse range of educational needs and preferences.
Byju Raveendran – BYJU’s
Since its establishment, BYJU’S has experienced tremendous growth, emerging as a leading player in the global edtech sector. Originating as a coaching center in Bangalore, it has expanded into a global entity, serving millions of users in India and beyond. BYJU’S offers a comprehensive range of courses spanning from kindergarten to post-graduation, covering diverse subjects and competitive exams.
BYJU’S success is credited to Byju Raveendran’s dedication to innovation and excellence. Continuously seeking ways to enhance learning, he drives initiatives like school partnerships, business acquisitions, and product development.
BYJU’S continually innovates and adapts to meet learners’ needs. Whether through new learning tools, market expansions, or collaborations with schools, the company stays at the forefront of educational advancement.
At its core, BYJU’S provides personalized learning using technology. Through video lessons, quizzes, and adaptive algorithms, it caters to individual learning styles, ensuring effective comprehension and retention.
Raveendran has made one investment to date, the details of which are as below:
Announced Date
Organization
Funding Round
March 11, 2022
BYJU’S
Private Equity Round
Byju Raveendran – Philanthropy
In September 2020, BYJU’S introduced the “Education for All” Initiative, targeting children from marginalized backgrounds. One of the initiatives within this program is Byju’s Give, which commenced in November 2020. Through BYJU’S Give, the company collects old or unused smart devices, refurbishes them, and loads them with BYJU’S educational content. These devices are then distributed to children without internet access at no cost.
Byju Raveendran – Controversies
BYJU’S subsidiary, WhiteHat Jr., faced scrutiny from the Advertising Standards Council of India, resulting in the removal of five TV advertisements due to allegations of misleading content and aggressive sales tactics. Allegations surfaced regarding fabricated claims in social media advertisements involving a fictitious child named “Wolf Gupta.” Additionally, BYJU’S faced a defamation lawsuit in November 2020, which was later withdrawn, and experienced a data leak compromising the personal information of over 200,000 users.
Concerns were raised by the Department of Consumer Affairs in June 2022 regarding aggressive sales practices and deceptive marketing strategies employed by BYJU’S and its affiliated entities, prompting recommendations for closer collaboration with the ASCI to address complaints.
In April 2023, Indian authorities conducted a raid on Byju’s Bengaluru office over suspected violations of foreign exchange laws. The company faced further legal challenges, including a lawsuit from lenders in a US court alleging defaults on payments and breaches of loan agreements. BYJU’S refuted allegations of fund diversion through its US-based subsidiary, Alpha, and counter-sued the lenders for harassment following alleged non-payment of an interest installment. Layoffs ensued, and Deloitte Haskins and Sells resigned as auditors, citing delays in financial statement submissions. Three board members also resigned, leaving Byju Raveendran, Divya Gokulnath, and Riju Raveendran as the remaining members.
On February 1, 2024, multiple shareholders initiated a call for a general meeting to address various concerns at BYJU’S, including calls for changes in the board of directors and leadership. In the same month, India’s economic intelligence and law enforcement body, the Enforcement Directorate, issued a lookout notice against Byju Raveendran. On February 23, shareholders voted to remove Byju Raveendran as CEO, with Byju Raveendran later disputing the validity of the vote due to insufficient attendance.
Raveendran has been recognized with the following awards:
2017- The Indian Express IT Awards
2019- Manorama News Newsmaker Award
2020- Ernst & Young Finalist, Entrepreneur of the Year, India and Winner, Business Transformation Award
2020-Fortune Magazine’s ’40 under 40′ list
2021-Forbes India Leadership Award (FILA) Entrepreneur for the Year
In March 2017, Harvard Business School included a case study on Byju in its curriculum, marking a significant milestone for the company’s global recognition and prestige. This recognition is a testament to Byju’s impact and success beyond financial measures.
FAQs
Who is Byju Raveendran?
Byju Raveendran is an Indian businessman, investor, and teacher. He co-founded BYJU’s, an educational company, along with his wife, Divya Gokulnath.
Who is Byju Raveendran wife?
Divya Gokulnath is the wife of Byju Raveendran.
What happened to BYJU’S?
BYJU’S, once one of India’s most successful startups with a value of $22 billion, faced a financial crisis as its debts grew. The high demand for online education during the COVID-19 lockdowns dropped afterward, leading to the company’s troubles.
The founder and chief executive officer of the educational technology giant BYJU’s, Byju Raveendran, has expressed his profound sympathy for the recent difficulties that the company and its personnel have encountered.
Raveendran gave his employees the assurance that he would support and be committed to the future of the company, even though there were allegations of layoffs and financial troubles.
Raveendran Expresses His Gratitude via Letter
Raveendran acknowledged the “turbulent times” that BYJU’s has been navigating in a letter that he sent to his staff. He also expressed his gratitude for the dedication that the employees of the company have shown him.
The payout will not be very large, but by this weekend, every single person who is employed by the company will receive a tiny amount. “Even if this is not even close to what you deserve, it is the best that I can give you at this moment. In addition, I assure you that on the day we take control of our company, you will receive a greater portion than what is considered to be your fair share,” Raveendran stated in the letter. The plea that he made to employees was that they continue to be dedicated to their responsibilities and continue teaching at the company, as reported by a media group.
“You have my sincere apologies. Despite the fact that you have performed to the best of your abilities, we have not been able to reward you for the work that you have done. Please accept my sincere apologies for this, as it is not appropriate. In the past three months, we have been confronted with a perfect storm of legal disputes, financial concerns, and obstacles that none of us could have prepared for. But you have maintained your composure throughout it all,” he commented further.
According to Raveendran, All employees have demonstrated that they are committed to the ultimate calling of a teacher, which is to educate, to inspire, and to guide.
Company’s Plans to Address Challenges
Raveendran provided an overview of the company’s strategies to overcome the difficulties and secure the company’s continued viability over the long run. It was his assurance to the staff that BYJU’s would continue to be dedicated to its purpose of providing students all over the world with a quality education and that the company would be taking proactive actions to better both its financial condition and its operations.
He further asserted that lenders located in the United States have submitted a weak case, asserting that they have a claim on the Indian assets of the company. However, according to the deal that company has signed with them, they do not have any rights to have access to these assets. They are not legally represented by the so-called trust that is supposed to represent them in India. The majority of these lenders are not represented by this specific entity. “Nevertheless, the fact of the matter is that I am no longer in charge of the company’s financial accounts, he stated. Raveendran expressed his understanding of the stress that this situation currently places on company’s employees and assures them that case will end up in company’s favour.
On Wednesday, the Supreme Court issued a stay of the NCLAT ruling that had set aside the insolvency proceedings against the ed-tech major. This effectively enabled Byju Raveendran, the owner of the company, to regain control of the business.
The ruling of the NCLAT that approved the settlement of Byju’s dues with the BCCI amounts to INR 158.9 crore, but the highest court has placed that verdict on hold. This decision has put a strong blow on Byju’s.
The order was issued in response to a pleading by Glas Trust Company LLC, a creditor situated in the United States, against the verdict of the NCLAT. Glas Trust Company LLC asserts that they are owed one billion dollars by Byju’s.
Additionally, a panel that was led by Chief Justice DY Chandrachud ordered the Board of Control for Cricket in India (BCCI) to maintain a separate account for the INR 158.9 crore that it had received from Byju’s as a result of a settlement.
Insolvency proceedings against BYJU’S were halted on August 2 after the National Company Law Appellate Tribunal (NCLAT) gave its approval to the settlement of INR 158.9 crore in dues with the BCCI.
How This Decision Can Bring More Trouble for BYJU’S
Following the decision of the Supreme Court, the insolvency proceedings against BYJU’S will resume. This will result in the ed-tech major, which was previously valued at USD 22 Billion, being placed under the control of an insolvency administrator chosen by the court.
At the beginning of this month, Byju Raveendran was able to restore control of the company after the National Company Law Appellate Tribunal (NCLAT) dismissed the insolvency procedures that were being brought against the startup.
The cricket regulating body of India filed a complaint, stating that the company had not been paid its sponsorship dues, which resulted in the company being placed in the process of going bankrupt. After some time, the two parties reached a settlement on the issue, and an appeals tribunal put a stop to the insolvency procedures.
Why BYJU’S Is Going Through a Financial Crunch?
The fast growth and forceful strategy of acquisitions employed by BYJU’S have put a heavy burden on its financial resources. Many are worried about the company’s long-term viability because of its substantial need for outside finance, despite the fact that it has raised billions in cash.
Despite the initial boost to online education caused by the COVID-19 pandemic, the market became saturated, which affected Byju’s growth trajectory.
Misleading advertising, unauthorised charges, and trouble getting your money back are just a few of the customer service issues that have plagued Byju’s. Not only have these problems damaged the company’s image, but they have also prompted lawsuits.
Members of the Enforcement Directorate and the Ministry of Corporate Affairs (MCA) are among the regulatory agencies that are constantly monitoring the operations of the company.
Investigations have been initiated due to allegations of financial irregularities, such as disparities in revenue recognition and possible violations of the Foreign Exchange Management Act (FEMA).
At the heart of both the company’s success and its present problems has been Byju Raveendran, founder and CEO of Byju’s. Now that stakeholders and investors are demanding answers about the company’s performance, his leadership is under scrutiny.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by BYJU’S.
Imagine you are sitting in a packed class, and the teacher is explaining an important concept. It appears that everyone else is understanding the teacher’s words and nodding their heads in unison, but this is not the same with you because you cannot understand an inch of the explanation going on in the class. Does this scenario resonate with you? Whether you accept it or not, such situations have happened at least once in a student’s life. Every person has his or her own pace of learning, and it is not possible for the teacher to take care of everyone in the class.
Thankfully, the Edtech sector is growing fast enough to fill this gap. And talking about EdTech in India, one name that can’t be missed is BYJU. Read on to find out how an engineer’s passion for teaching led him to start the world’s most valued ed-tech company.
BYJU’S was founded in 2011 by Byju Raveendran, and BYJU’S The Learning App was launched in 2015. BYJU’S is now valued at about $8.4 billion.
Let’s go through the Exciting Journey of BYJU’S and also discover more about BYJU’s Success Story, History, Founders, Funding, Revenue, Competitors, Acquisitions, and more.
The Bangalore-based educational technology platform BYJU’s is an online tutoring and coaching firm that was started in the year 2011 and runs on a freemium model. BYJU’s parent company is ‘Think and Learn Pvt Ltd’. The main aim of BYJU’s is to provide coaching through online video lectures for students of class 1 to class 12 and also for people who prepare for competitive exams like IIT – JEE, NEET, CAT, GRE, and GMAT.
BYJU’s – the Learning appwas launched in the year 2015 and has been a huge success. It is used by more than 15 million students all over the world and has 9,00,000 paid subscribers. The app helps the students to learn on their own rather than rely on spoon-feeding. Its approach combines the re-invention of learning, world-class teachers, proven pedagogical methods, and personalized learning.
Byju Raveendran is the founder of BYJU’s Classes, the education Technology firm.
Byju Raveendran
Byju Raveendran – Founder, BYJU’S
Byju Raveendran, BYJU’s founder, and CEO,was born in 1980 in Azhikode, Kerela. He has a B.Tech (mechanical engineering) from Government Engineering College in Kannur, Kerela. Before starting BYJU’s, Byju Raveendran was working in a multinational shipping firm as a service engineer. However, teaching was his passion and inspired him to start BYJU’s.
Besides being an entrepreneur and teacher, Byju Raveendran is also an expert sportsperson, active in six different sports. He played football, cricket, table tennis, and badminton at the university level. Popularly known as Byju sir among his students, Byju cleared CAT twice with 100 percentile. He never joined any IIM, though.
Divya Gokulnath
Divya Gokulnath – Co-founder, BYJU’S
An Indian entrepreneur and educator, Divya Gokulnath is the wife of Byju Raveendran and a co-founder and director at Byju’s. Divya was a student of National College Jayanagar and R.V College of Engineering, from where she completed her B.Tech in Biotechnology after which she decided to co-found Byju’s in 2011 with her husband.
Rachna Bahadur was appointed as the Senior VP of Byju’s on December 10, 2021, who will look after the overall planning, strategies, and roadmap of Byju’s both in new and existing markets. Rachna was previously a Partner at Bain & Company.
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Coming from Azhikode, a small village in Kerala, Byju Raveendran was an engineer with a shipping company based in the UK. While he was working, he started to help his friends prepare for the CAT exam, an entrance exam for getting into the best business schools in India. To test himself, Byju also gave the exam and secured 100 percentile! He did not join any of the IIMs but started teaching students for their mathematics exams.
Initially, he took mathematics workshops for free and then started charging a fee when he was confident about his prowess. At one point his workshops were so popular that more than 20000 students participated in one such workshop. In the year 2009, he started to record videos of the workshops he organized.
His former students who graduated from the IIMs encouraged him to start BYJU’s classes. ‘Think and Learn Pvt Ltd’ was then formed to create content for school students. He launched Byju’s – The Learning App in 2015, and the app was downloaded by more than 5.5 million people in the first year itself.
BYJU’s – Name, Logo, and Tagline
BYJU’s tagline is “Fall in love with learning“. Byju’s got its name from its founder’s first name.
Here’s the BYJU’S logo below:
BYJU’S Logo
BYJU’s – Business Model and Revenue Model
Byju’s works on a freemium business model wherein it offers customers both complimentary and paid (premium) services. The company asks the students to submit their details on its application or website and offers them a free 15 days trial. Once the free trial is exhausted, the student has to buy the courses from BYJU’s to access the complete content. The company provides one-to-one mentoring to its subscribers and also provides feedback to the child’s parents. BYJU’s also offers classroom coaching in Noida, Gurgaon, and some other areas.
BYJU’s generates revenue in three ways:
The first one is through the app. After the free trial of 15 days, students have to purchase the courses to continue their educational journey on BYJU’s. The app offers a variety of test series, courses, etc. which actually compels people to make the purchase.
BYJU’s offers electronic tablets that customers need to procure when they buy the course of their choice. This tablet has videos, tests, practice questions, quizzes, etc. pertaining to that course.
The third revenue generation mechanism is through classroom teaching. These classes are restricted to only a few cities.
In 2016, BYJU’s became the first Asian company to receive funding from the Chan-Zuckerberg Initiative, a philanthropic initiative by Facebook founder Mark Zuckerberg and his wife Priscilla Chan. It was back in 2018 when BYJU’s turned into a unicorn, becoming the first Indian edtech company to join the prestigious unicorn club of Indian startups.
During the funding round in March 2022, BYJU’s successfully concluded a round worth $800 million. Notable investors, including Sumeru Ventures, Vitruvian Partners, and BlackRock, infused $400 million, while the founder of BYJU’s, Byju Raveendran, contributed the remaining $400 million. However, the closing of this funding round faced challenges in July 2022 when Sumeru and Oxshott did not transfer their due amount of $250 million, citing macroeconomic reasons.
Byju Raveendran, the CEO of BYJU’s, holds approximately 25% of the company’s stakes, while Divya Gokulnath and the management team possess around 4% stakes.
In June 2021, BYJU’s secured a funding round that valued the edtech giant at $16.5 billion, surpassing Paytm as the most valued startup in India. This was followed by an increase in valuation to $22 billion in July 2022 after the successful funding round. However, in May 2023, BlackRock cut BYJU’s valuation by 62%, resulting in a new valuation of $8.4 billion. This followed a previous valuation cut to $11.5 billion by BlackRock, just one month earlier.
The table below covers BYJU’s funding details:
Date
Stage
Amount
Lead Investors
May 13, 2023
Debt Financing
$250 Million
Davidson Kempner
October 27, 2022
Debt Financing
$36.45 Million
Aakash Educational Services
October 17, 2022
Private Equity
$250 Million
Qatar Investment Authority
March 11, 2022
Private Equity
$800 Million
Byju Raveendran, Sumeru Ventures, Vitruvian Partners and BlackRock
November 8, 2021
Debt Financing
$1.2 Billion
–
October 4, 2021
Series F
$286.61 Million
Oxshott Capital Partners
September 8, 2021
–
$150 Million
Asmaan Ventures, Mirae Asset, ARK Ncore
June 21, 2021
Series F
$50 Million
IIFL and Maitri Edtech
June 12, 2021
Series F
$350 Million
UBS Group, Eric Yuan, Blackstone
March 29, 2021
Series F
$460 Million
MC Global Edtech Investment Holdings
September 8, 2020
Private Equity Round
$500 Million
Silver Lake
August 26, 2020
Venture Round
$122 Million
DST Global
June 26, 2020
Venture Round
$100 Million
Bond
January 9, 2020
Private Equity Round
$200 Million
Tiger Global Management
July 10, 2019
Venture Round
$150 Million
Qatar Investment Authority
March 22, 2019
Private Equity Round
$31 Million
General Atlantic & Tencent Holdings
December 11, 2018
Venture Round
$ 540 Million
Prosus & Naspers
August 2017
Corporate Round
$40 Million
Tencent Holdings
March 2017
Series F
$30 Million
Verlinvest
December 2016
Series E
$15 Million
IFC Venture Capital Group & InnoVen Capital
September 2016
Series D
$50 Million
Chan Zuckerberg Initiative & Sequoia Capital India
March 2016
Series C
$75 Million
Sequoia Capital India & Sofina
In March 2017, a case study on BYJU’s was featured in Harvard Business School’s curriculum. It is indeed one of the biggest achievements for any company from a non-monetary perspective, and that is when Byju’s started operating on a global platform.
BYJU’s – IPO
Byju’s is eyeing an IPO within the next 8-10 months. Byju Raveendran-led edtech unicorn is India’s second-highest valued startup, which has already been popular in the startup ecosystem for its fundraises and acquisitions and is currently looking for an IPO at over $16.8 bn. According to the further progress in the IPO of Byju’s the company has now decided to merge the special-purpose acquisition company (SPAC) of Churchill Capital, a global strategic advisory firm, and raise around $4 bn. Such an IPO round would value the company at over $48 bn, as per the reports of December 16, 2021. The BYJU’s IPO is set to be conducted in the next 18 months, as of July 7, 2022, at a valuation between $40-45 bn.
BYJU’s – Challenges faced by BYJU’s
As said by Byju Raveendran, the founder of BYJU’s, converting the students to paid subscribers after the free trial ends is a major challenge for BYJU’s. The company is also working towards expanding to other English-speaking countries, and finding suitable partners to assist with this expansion is the second challenge.
Byju’s Owing Money to BCCI
Byju’s, which has been the jersey sponsor for the Indian cricket team, allegedly owes nearly Rs 86.21 crore in dues to the Board of Control for Cricket in India (BCCI). These news reports have been rejected by Byju Raveendran’s wife and the Co-founder of Byju’s Divya Gokulnath, who have also pointed out that the cricketing board of India has also rejected such news.
It originally acquired the rights from OPPO, the smartphone manufacturing firm in 2019, and the last deal of the edtech major with BCCI expired in March 2022. However, both parties have agreed to extend their partnership in April 2022, which will continue till the 2023 ODI World Cup. The latest deal was worth $55 mn.
Byju’s Under Government Scanner for Misselling Courses
Byju’s has been identified by the Department of Consumer Affairs among the edtech companies that missell courses. Several edtech companies like Unacademy, UpGrad, Great Learning, WhiteHat Jr., and more joined the meeting with the India Edtech Consortium (IEC) on June 24, 2022, where they were drawn attention to the numerous consumer complaints against these companies, a large number of which were against Byju’s and its subsidiaries. Divya Gokulnath of Byju’s fame shared a detailed action plan to address consumer complaints. Besides, the most valued startup in India has also been advised to work with the Advertising Standards Council of India (ASCI) for the claims that it makes in its ads.
BYJU’s – Competitors/Alternatives
People are rapidly moving toward digitization and adopting e-learning because of this revolution, and many other companies with a model similar to BYJU’s are focusing on ed-tech. BYJU’s major competitors:
BYJU’s has acquired a total number of 19 companies to date. With a total of 10 acquisitions under its belt in 2021, Byju’s had spent over $2.4 Bn owing to its aggressive acquisition spree, which the company has embraced eyeing a unilateral market. Byju’s acquired GeoGebra, an Austria-based Math learning tool startup on December 8, 2021, in a deal that was later recorded at around $100 mn. Founded by Markus Hohenwwarter in 2001, GeoGebra fuses geometry, algebra, spreadsheets, graphing, statistics, and calculus on a platform that is easy to use and efficient. Besides, it boasts of having a community of 100 Mn+ learners across 195+ countries. As a platform, GeoGebra aims to make math learning fun and visually appealing. This acquisition will, thus, make Byju’s Math learning programs interesting and interactive.
Tynker was the last company that Byju’s acquired before this present acquisition on September 16, 2021. Byju’s previously acquired the e-learning app for competitive exam preparations, Toppr, and Edtech app, Great Learning on July 24, 2021, and then Whodat. Great Learning again acquired the recruitment automation company, Superset on February 28, 2022. Byju’s Great Learning acquired Northwest Executive Education on May 10, 2022, for around $100 mn, in a cash and stock deal. This acquisition would help both companies further their offerings to markets like India, the US, Europe, and Latin America.
Byju’s was in final talks of acquiring the online tutoring platform, Vedantu. The Edtech gianthad already displayed a vibrant year of acquisition so doubts were relatively lesser on the same. According to the reports, the Byju Raveendran-led company had already offered an amount of $700-800 millionfor the deal, which was pending necessary regulatory approvals. Vedantuhas been among the most prominent rivals of Byju’s, and if the deal fleshed out, it would have been another feather to the cap of Byju’s, being the fourth major acquisition of the companyso far. However, Byju’s acquisition of Vedantu was dismissed by the co-founder and chief executive of Vedantu, Vamsi Krishna, who said that any talks of merger or acquisition with Byju’s are “100% inaccurate,” as per the reports on August 6, 2021.
Though the Edtech major has reportedly reached out to Unacademy and Vedantu and offered them around $1 billion last year, none of the deals has materialized this year. However, Byju’s was then in talks to acquire Tynker, a coding platform for kids from the US. The talks were at their initial stage, with no confirmation of the figures of the deal, when reported on August 17, 2021. Byju’s has been ultimately successful in materializing yet another acquisition, where it has acquired Tynker on September 16, 2021, for $200 mn. Tynker Founder and CTO, Srinivas Mandyam has stated that the platform is so popular in the US that 1 in 3 schools already use it in the States. This will surely give Byju’s an extra edge for its expansion in North America. Byju coding class along with Tynker and WhiteHat Jr. is meant to be something big in the long run.
Possible Acquisitions Ahead for Byju’s
The Edtech decacorn is now looking to acquire Hello English, according to the news dated November 22, 2021, confirmed by sources close to the company. The sources on request for anonymity have also claimed that the deal will reportedly be valued at $25 mn. Furthermore, they added that the term sheet has already been signed.
Hello English [formerly known as CultureAlley] is an eight-year-old cloud-based language learning platform that extends the facility of learning multiple languages for users including English, Chinese, Portuguese, Turkish, Nepali, Indonesian, Thai, Arabic, Malay, Urdu, Malay, Bengali, Punjabi, Telugu, Tamil, Kannada, and more. The acquisition of Hello English would be a landmark step and will signal the foray of the Edtech tech into the language learning space.
Byju’s is also reported to be acquiring Superset and is currently involved in the late-stage conversation to finalize the terms, according to sources close to the companies on request of anonymity. Superset is a campus recruitment platform from Bangalore that aims to streamline the campus hiring process, thereby making placements an easy affair for colleges, universities, and companies. It is also alleged that the Superset founding duo, Naman Agrawal and Pranjal Goswami will also join Byju’s if the deal takes shape.
The Byju Raveendran-led edtech company might acquire 2U Inc, a NASDAQ-listed edtech firm for close to $1 bn, which might stand as the largest acquisition in the space.
Byju’s Completed Aakash Acquisition
Byju’s owned Aakash Institute back in January 2021, in a deal worth $1 bn, which was to be completed in June 2022, but the company is deferring the payment and have reportedly sought a two-month extension already, as per the reports dated June 29, 2022. Blackstone, which is Aakash’s main investor and others are to be paid partly in cash and partly in Byju’s stocks, as per the reports. Many other investors also received partial payments in 2021 as reported by the firm. The Byju’s-Aakash deal, which was billed as the largest deal in the history of the Indian edtech space, declared previously that after the deal, Aakash Chaudhry and the Chaudhry family, who are the owners of the institute would completely exit the company. On the other hand, Blackstone, which owns 37.5% of the institute would be paid in June 2022. However, Byju’s spokesperson has denied the reports of Bloomberg and mentioned that Byju’s acquisition of Aakash would be completed on the mentioned date, which is in August 2022. Byju’s declared that it has completed Aakash’s pending payment as per the reports dated July 4, 2022. Via a statement, Byju’s spokesperson mentioned the closing of the Aakash deal, and that the audited financial results will be announced in the next 10 days. However, it is revealed on July 12, 2022, that Byju’s has a pending payment of close to $200 mn to the US-based private equity giant Blackstone Inc., which reportedly needs to be paid by August 2022.
Here are the details of all BYJU’s Acquisitions:
Date
Company
About Company
Value
January 2017
Vidyartha
A customised learning guidance platform for K8-K12 students
$6.71 million
July 2017
TutorVista
Online tutoring services platform
Undisclosed
July 2017
Edurite
Audio-visual educational content provider
Undisclosed
July 2018
Math Adventures
A platform that aids kids to learn math in a fun way
Undisclosed
January 2019
Osmo
Platform offers educational courses with the use of games, videos and other materials
$120 million
August 2020
WhiteHat Jr.
Offers online coding classes to school-going students in India and the US
$300 million
September 2020
LabInApp
Offers lab-like simulations for science students on a mobile app.
Undisclosed
January 2021
Aakash Educational Services Ltd
Helps students get admission to engineering and medical schools by providing coaching for entrance exams
$1 Billion
February 18, 2021
Scholr
Mumbai-based Ai-enabled online education platform
$2.4 million
May 29, 2021
HashLearn
Online coaching platform for competitive exams
Undisclosed
July 13, 2021
Gradeup
India’s largest online exam preparation website
Undisclosed
July 13, 2021
Toppr
Online learning app offering training in JEE Main, NEET, JEE Advanced, CBSE and other school exams
Undisclosed
July 21, 2021
Epic
California-based reading application that focuses on books, eBooks, learning, and educational technology
$500 million
July 24, 2021
Great Learning
Edtech platform that offers career-relevant courses from world-class universities
Undisclosed
August 4, 2021
Whodat Tech
A spatial mapping, computer vision and augmented reality startup based out of Bangalore
Undisclosed
September 16, 2021
Tynker
Tynker is a US-based coding platform that empowers kids to learning programming and code.
$200 million
December 8, 2021
GeoGebra
GeoGebra is a Austria-based math learning platform that aims to empower math learning and make it easy and interactive.
$100 mn
BYJU’s – Growth and Revenue
BYJU’s as a startup is pretty innovative and has garnered massive success in the market. It follows rigorous advertising strategies. The company has captured the Indian market and has established its presence in the Middle East as well. BYJU’s intends to expand to the United States, the United Kingdom, South Africa, and other global markets. To expand its footprints in the USA, BYJU’s acquired US-based learning platform Osmo in January 2019. The company also tied up with Disney to launch an early learning app for classes 1-3.
BYJU’s was also in the news recently as it took a positive step during the coronavirus crisis. Since schools in different parts of India were shut down due to the coronavirus outbreak, BYJU’s made its learning app free for the students till the end of April 2020 so that students could enjoy uninterrupted learning.
BYJU’s Collaborated with NITI Aayog
Byju Raveendran-led Edtech giant partnered with the Indian government’s public policy think tank. This partnership aimed to foster a quality learning experience through tech-driven learning programs, which will be extended to children across 112 “aspirational districts” of the country. The “aspirational districts”, as mentioned, are the most developmentally challenged regions of the country across sectors like health, nutrition, education, agriculture, skill development, water resources, infrastructure, and more.
This partnership will also be responsible for setting a dedicated working group up to monitor and evaluate the implementation of the program in full, according to a statement released on September 17, 2021.
This collaboration will be comprised of 2 main components:
Byju’s Career Plus program will offer high-quality coaching to around 3000 students of Classes 11 and 12, who are aspiring to appear for NEET and JEE.
Another voluntary program will allow school-going children between Classes (6-12) to avail themselves of scholastic content from Byju’s Learning App for 3 years, as per the social impact initiative undertaken by the edtech giant named, Education for all.
On this, Byju’s Founder and CEO, Byju Raveendran said,
“Through our ‘Education for All’ programme, we have been empowering and impacting millions of children across the country, and by partnering with NITI Aayog, our efforts are being strengthened further.”
Byju’s to launch a new edtech business in the MENA region
Byju’s has partnered with Qatar Investment Authority (QIA) to launch a new edtech business and R&D centre in Doha, Qatar. The entity that will be built as a result of the deal, is expected to drive research and innovation and create cutting-edge learning solutions that will be personalised for the Middle East, and North African students, those who belong to the MENA region.
The CEO and Founder of Byju’s, Byju Raveendran, and the CEO of QIA, Mansoor Al-Mahmoud, have signed an MOU in the presence of the Deputy Prime Minister and Foreign Minister of the State of Qatar and chairman of QIA, Sheikh Mohammed Bin Abdulrahman Al-Thani, and the representatives of BYJU’S, in the recent 2022 Doha Forum.
Furthermore, BYJU’s aims to identify and provide test preparation coaching to 3,000 meritorious students of classes 11 and 12, who aspire to appear for NEET and JEE, with the help of the Aakash+BYJU’S Career-Plus program. Additionally, the Edtech giant will also offer academic content with the help of BYJU’S Learning App for the school children studying in classes 6-12 standards for three years, under its social impact initiative called ‘Education for All’.
BYJU’s Revenue
Although BYJU’s has not yet disclosed its financial numbers for FY22, the company has claimed that it achieved approximately Rs 10,000 crore in gross revenues during that fiscal year. However, according to the annual financial statements filed with the Registrar of Companies (RoC), BYJU’s operating revenue showed a modest growth of only 4% to Rs 2,280 crore in FY21, compared to Rs 2,189 crore in FY20. In contrast, the company experienced a significant surge in losses, which increased nearly 15 times to Rs 4,564 crore in FY21, as compared to Rs 305 crore in FY20.
Byju’s has started offering a hybrid model where the students can embrace physical/offline education centers for their classes, as of October 2021. The all-new hybrid model of education has already been kickstarted, the success of which would make the Edtech startup scale it up around the nation. The hybrid learning centers would be dubbed, “BYJU’S Learning Centre” and would initially concentrate on Physics, Chemistry, Biology, and Mathematics.
Byju’s appears to have come full circle. This is because after switching to the online mode of learning, acquiring companies, garnering fame, and becoming India’s most valued edtech startup, it is now planning to launch its offline coaching center, which would be named Byju’s Tuition Center (BTC), and would pave for its foray into blended/hybrid learning. This new initiative is planned to benefit the students between Classes (4-10) and has prominently scaled this far mainly after the acquisition of Aakash Educational Services.
BYJU’s – Partnerships
Byju’s is known as the BCCI partner and will be remaining on the jersey of the Indian cricket team as it renewed its sponsorship with the Indian cricketing board for the upcoming 18 months at a deal price of around $55 mn. The new term of Byju’s started after the end of India’s South Africa tour. The Byju’s-BCCI partnership was extended until the ODI World Cup 2023.
The edtech giant’s contract ended in March 2022, post which it applied for the extension. Byju’s bought the rights of IPL sponsorship from Oppo in 2019. Some other prominent partnerships of Byju’s include:
Byju’s and Google Partnered to offer a “Learning Solution” for schools.
Byju’s collaborated with NITI Aayog to extend free education in 112 districts.
Byju’s partnered with Intel to invest in and enhance student-teacher relationships.
The edtech giant collaborated with Akshaya Patra Foundation to help needy students get smart classrooms.
BYJU’s – Lay Off
In October 2023, BYJU’S laid off about 600 workers from its marketing and content departments. Under the direction of new India CEO Arjun Mohan, the ailing edtech behemoth is currently undergoing restructuring, which includes layoffs.
BYJU’s – Future Plans
Byju’s is currently planning to focus more on the Byju’s Tuition Center (BTC) by investing up to $200 mn on the same over the next 12 to 18 months, as of February 2022. Signing up around 1 mn students for this model is the aim of Byju’s over the next 2 years. The Byju Raveendran-led edtech giant is currently running this product as a pilot in around 23 cities and 80 centers and is willing to take the same to 500 centres across 200 cities by the end of 2022. Byju’s is also looking forward to a public listing ahead in the next 18 months. It is also looking to acquire prominent companies like the NASDAQ-listed 2U Inc.
FAQs
When did BYJU’s Start?
BYJU’s was founded in the year 2011.
What is BYJU’s Tagline?
BYJU’s tagline is “Fall in love with learning“
Why is BYJU’s Successful?
BYJU’s functions on a Freemium Business Model. The approach of BYJU’s in providing knowledge with highly creative visual content, one-on-one learning, and other facilities has led to its success. BYJU’s has been able to rightly blend technology and knowledge to impart knowledge to today’s generation.
Who is the Owner of BYJU’s?
Byju Raveendran founded BYJU’s in 2011. Think and Learn Private Ltd is the parent organization of BYJU’s.
Who is Byju Raveendran’s wife?
Byju Raveendran’s wife is Divya Gokulnath, who is an entrepreneur, and educator along with being the Co-founder and Director at Byju’s.
What is the Byju’s learning app?
The Edtech giant boasts of the BYJU’S Learning App, which is designed to offer academic content for school-going children ranging from class 6 – 12 for three years. This has been decided under its social impact initiative ‘Education for All’.
How much is BYJU’s Revenue?
BYJU’s operating revenue showed a modest growth of only 4% to Rs 2,280 crore in FY21, compared to Rs 2,189 crore in FY20.
Who are the competitors of BYJU’s?
BYJU’s major competitors are Meritnation.com, Vedantu, Teachable, Khan Academy, Simplilearn, Schoolwise, and Toppr.
How to become a teacher in Byju’s?
Becoming a teacher in Byju’s is not as hard as you think. To become a teacher, firstly, you need to record a video of yourself where you will have to teach any concept in front of the camera for around 15 minutes. Next, you need to record another clear video of yourself where you will have to solve 2 questions papers of the subject grade that you have applied for.
If I ask you to name an e-learning app where students can attend live classes, watch pre-recorded videos and give tests, most of you will surely name Byju’s. And why not! Byju’s is India’s most famous edtech decacorn valued at $22 billion.
Currently, the app has 10 Cr+ downloads on the Play Store with students spending 71 minutes on average time on a daily basis from 1700+ cities.
The app has 6 million paying subscribers with an 85 per cent renewal rate. All these statistics show how much Byju’s has grown over the years. In India, the education system is majorly based on an offline learning model. Then how did this company popularise the e-learning concept?
In a country like India where parents hate mobile phones and the internet in the hands of their children, how did this company make both students and parents understand the benefits of studying online?
The answer to all of these questions lies in their marketing strategy. Let’s break down the brilliant marketing strategy of Byju’s in great detail.
Before we dive deep into Byju’s marketing strategy let’s first understand who exactly is their target audience.
The target audience of this growing edtech company is millennials and gen z from grade 1 to the ones who are studying for competitive exams like CAT, IAS, JEE, NEET, GMAT, UPSC and banking exams.
But, apart from the students, the parents are also the target audience of the company since they are the decision-makers and the ones who pay money for the classes. With that understood, let’s analyse our marketing strategy of Byju’s.
Byju’s Marketing Strategy During COVID-19 Pandemic
During the COVID-19 outbreak, while many of the brands were facing losses, Byju’s on the other hand substantially increased its user base and revenue.
The Indian edtech company became a decacorn and crossed a $10.5 billion valuation during the pandemic after getting funding of $100 million from Silicon Valley investor and analyst Mary Meeker’s Bond Capital.
But, how did the company become so successful during the outbreak? To find an answer to this question let’s see the marketing strategy of Byju’s from the start of the pandemic.
In March 2020, when all the schools and colleges were shut the company provided free access to its complete app till the end of March.
So, for 2 months students could attend live classes and watch interactive videos without spending any money. Students who were studying in classes 1-3 could learn Maths and English concepts and students in classes 4-12 could study Maths and Science concepts.
Now, why did they give free access to the classes?
See, people love free things. When we hear this four-letter word our behavioural pattern changes and the entry barrier is eliminated.
The principle of reciprocity is also associated with this strategy. According to this principle, when someone helps us we get obligated to return the favour. So, if students use the app for 2 months and enjoy the learning process the chances of those students returning back and buying the subscription are much higher.
This strategy was very successful and the company registered 6 million new students in the month of March and 7.5 million users in April.
The edtech company said that they witnessed a 150 per cent increase in student enrollment due to this free strategy.
In August 2020, the company acquired WhiteHat Jr, an online coding school for $300 million.
Later, in April 2021, Byju’s acquired Aakash Educational Services Ltd (AESL) for USD 1 billion which is the biggest acquisition of Byju’s to date. This partnership will help the company grow its presence in the test preparation segment.
The company didn’t stop here, in July 2021, the company acquired Toppr, an online learning app for $150 million.
Byju’s wants to create its own ecosystem and that’s why it is continuously acquiring a lot of companies. The edtech giant knows that if they want to stay in the market for a long time they need to either defeat their competitors or destroy the competition by acquiring them.
Let’s see what marketing strategies Byju’s used before the pandemic.
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Brand ambassadors are very important for any company since they give a more human touch to the brand and build authority and trust with the people.
In 2017, Byju’s made a television advertisement with Shahrukh Khan to launch their official app. This advertisement was telecasted during the India-Pakistan cricket match. This is such an amazing marketing strategy, right? We all know that the India V/S Pakistan cricket match attracts maximum eyeballs.
So, when lakhs of people were watching the match they see the King of Bollywood say ‘let your children fall in love with learning’. Due to the massive fanbase of Shahrukh Khan, a lot of students and parents started gaining interest in Byju’s app. The interesting thing about this advertisement was that it targeted both the children and parents. This campaign was very successful.
To make better relationships with Gen-Z Byju’s also tied up with Disney. Since the popularity of Disney among kids is humongous it gave the brand an added boost.
Educational games, digital worksheets and the trademark Disney stories made parents understand that their children can learn using fun activities and stories. This partnership helped in strengthening Byju’s K-12 (kindergarten to Class XII) space.
Busted Biggest Myth about Technology
Now, due to the pandemic, both parents and students have understood the importance of e-learning. But, in the past, many parents felt that mobile phones were the biggest problem in the lives of their children. Parents felt their children only use mobile phones and the internet to play games, chat with their friends and watch useless videos.
They didn’t understand that technology can help their children in studying as well. To break this myth of parents Byju’s launched a video campaign ‘Come Fall in Love With Learning’. This campaign helped parents understand that there is nothing wrong with studying using mobile phones.
Sponsored Indian Cricket Jersey
In 2019, Byju’s sponsored the Indian cricket Jersey. The logo of Byju’s on the cricket jersey was unveiled in a video campaign named ‘Keep Learning’. In this TV commercial, Virat Kohli, Rohit Sharma, Shikhar Dhawan, KL Rahul and Rishabh Pant walked onto the pitch wearing the cricket jersey with Byju’s logo on it.
This shows that Byju’s has clearly understood how much Indians love cricket and are using this opportunity to grow this business. Imagine how much of a positive impact it would have created both on students and parents when they see their idols explaining the importance of learning while wearing the jersey with Byju’s logo on it.
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India is a nation of different cultures and languages. So, when any company is making its marketing strategy it is very important to target people using the language that they speak.
In the early stage, Byju’s usually launched campaigns in Hindi. Although afterwards Byju’s realised that to connect with the people living in different parts of India they need to launch regional campaigns.
In May 2019 the company roped in Mahesh Babu for a video campaign targeting Telangana and Andhra Pradesh. The new campaign highlighted the evolving learning habits of children and how Byju’s app makes learning fun for them. It also explained that technology can be a friend to students and can help them study more effectively.
Later, in July 2020 the company partnered with Sudeep Sanjeev and launched two television ad-campaign in Kannada. They also launched two new television advertisements with their existing brand ambassador Mahesh Babu in Telugu.
All the four ad films were of 50 seconds each. The advertisements highlighted how students are enjoying online learning and encourages parents to accept the new method of learning.
Partnered with ICC to Become its Global Partner
Byju’s sponsoring ICC
Byju’s wasn’t just satisfied with sponsoring the Indian cricket Jersey. In February 2021, International Cricket Council (ICC) announced Byju’s as its global partner from 2021 to 2023. The three-year contract allows Byju’s to partner with all ICC events including the upcoming T20 World Cup in India and the women’s World Cup in New Zealand.
Byju’s will get extensive in-venue, broadcast, and digital rights across all ICC events. Since the ‘Keep Learning’ campaign was very successful it made sense for the company to invest more money in cricket.
Byju’s Became the First Indian Edtech To Sponsor FIFA World Cup
Byjus Sponsoring FIFA
After integrating cricket into its marketing strategy Byju’s is now leveraging the most famous sport in the world, football. On March 24, 2022, the company announced that it is sponsoring the FIFA World Cup Qatar 2022 which will take place from November 21 to December 18, 2022.
Through this sponsorship, Byju’s will get the rights to the 2022 FIFA World Cup marks, emblem and assets and the ability to run promotions.
Conclusion
The major takeaway from Byju’s marketing strategy is that you should focus on your target audience and brand presence.
If you see their marketing strategy from the beginning you will notice that they were directly speaking to students and parents. They made students understand that they can turn their boring studying patterns into exciting ones.
The company also understood that even though students are their end consumers, parents are the ones who will spend money on their packages.
Most parents feel that their children shouldn’t use mobile phones and the internet for studying. The company knew that if they didn’t break this myth they would never succeed. That is why they launched the ‘Keep Learning’ campaign where they explained the benefits of studying online.
In India, people are in love with cricket and acting. That is why they made Shahrukh Khan their brand ambassador and sponsored Indian cricket Jersey and became ICC’S Global Partner. This made Byju’s a household name and people started trusting the brand.
All these things show that they had studied the Indian market and the psychology of people carefully. So, next time when you are making a marketing strategy for your business first understand your target audience’s needs and behaviour patterns.
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