Byju’s initiated by Founder CEO Byju Raveendran is India’s largest learning app in the primary and secondary education sector. It has about 5.5 million downloads and 2,50,000 paid users.
Byju’s app is the first ever company in Asia to be backed by Chan-Zuckerberg initiative. He got $50 million from the Chan-Zuckerberg initiative. This initiative is a philanthropy platform of Facebook’s Mack Zuckerberg and his wife Priscilla Chan.
Byju’s learning app carried the title of the “largest funded edtech startup in India” and this was indeed quite a big burden to keep up to that expectation.
A year before, Byju raised $140 million in three rounds from top investors including $75 million from Sequoia Capital and Sofina in April, $50 million from Chan-Zuckerberg initiative and another $15 million from IFC.
Byju’s funding valuation has been pushed from $160 million to $500 million in 2015. He is now planning to expand his business to the Middle East countries and also to the smaller towns in India. The content team of Byju’s recently shipped its consignment to Jammu and Kasmir.
Byju’s learning app was launched in 2015, and there were as many as 7 million app downloads and also 3.5 lakh subscriptions.
Byju’s first formal class was at Jyoti Nivas College with about 35-40 students and then he had to accommodate 1200 in a hired auditorium in the same month.
The test prep market includes competitive exams like NEET, JEE, CAT, IAS, GMAT and GRE. This brings about 90% revenue for the total company.
This shows how much Byju Raveendran genuinely believes in making learning the focus of education.