BYJU’s recently secured a funding of roughly half a billion (US) dollars. This made it the fourth most valued Internet company of India. In addition to that, it also won the startup a title of the world’s most valued education technology firm. Earlier this year, the value of the firm was about a billion dollars. As the year comes to an end, this value has jumped to almost 4 billion dollars.
It was the first Asian investment from the Chan Zuckerberg Initiative, a limited liability company owned by Facebook founder Mark Zuckerberg and wife Priscilla Chan. Following the 2017 acquisition of TutorVista, BYJU’s has become one of the few Indian consumer startups that have gone global.
BYJU’S operates on a freemium business model where some services are free however most of the content requires a paid subscription.
As of April 2018, the company had raised around $244 million. The major investors and stakeholders include Chan Zuckerberg Initiative (CZI), Sequoia Capital, Sofina, Lightspeed Venture Partners, Verlinvest, Aarin Capital and Times Internet (Times of India group).
Meanwhile, Ministry of Corporate Affairs recently valued BYJU’S at US$1 billion (roughly ₹6,505 Crore) in March 2018.
“We believe the importance of quality education among Indian population fuelled our ability to create an engaging learning app.”
-Byju Raveendran, founder, BYJU’s.
South Africa’s Naspers Ventures recently led a funding round for the startup. This led the startup to further secure $540 million (roughly ₹3865.5 crores) to fuel its expansion plans.
The valuation of Bengaluru-based BYJU’s is a little less than $4 billion. This has placed the company among one of the top-five most valued Internet companies in India. Moreover, it has also won the startup the crown of the world’s most valued education technology firm.