News

Byju Valuation Reaches $3.6B After $540M Funding

Byju has more than doubled its valuation to boost its global expansion

Byju

Byju, an India-based educational startup, has reported to successfully raise over $400 million in funding in just a single round. This company with over a decade of rich experience in the field has recently made the announcement official regarding its valuation. A total of $540 million has been raised by Byju from investors, further encouraging Byju to target for global expansion.

The funding round was led by Naspers which is an investment firm that is also quite famous for backing up Tencent and other educational firms like Codecademy, Udemy, Brainly and many more. As per the latest reports, the CPPIB i.e. Canadian Pension Plan Investment Board provided a 'significant portion' of the funding round. Also, to keep in sync with the latest trends in the startup world, you can have a look at our News Section.

Apart from this, there were also some secondary share sales that contributed to the total valuation of Byju. This global expansion news of Byju has made it ranked among the top five in CB Insights’ ranking of Indian Startups. This raised $540 million funding will be used as a resource for fueling the global expansion of Byju in English-speaking countries.

How It All Started? 

The India-based company was founded in the year 2008 by Byju Raveendran as an offline teaching center, which later moved on to digital courses by the end of 2015. Byju holds specialization in educational courses from grade 4 to grade 12 along with a variety of educational material in the form of videos and e-books.

Founder and Chief Executive Officer Byju Raveendran said in a statement, 

This round took Byju to a mark of $775 million from investors to date that includes names like Tencent, the Chan Zuckerberg Initiative, the Facebook founder Mark Zuckerberg, General Atlantic, IFC, Lightspeed Ventures and Times Internet as its official backers.

Aiming For Global Expansion 

It is now claiming to have more than 30 million registered students with more than two million customers that have signed up for an annual paid subscription. Apart from this, Mr. Raveendran also stated that there are currently around 1.3 million paid users whose renewal rate is over 80 percent, which ranges from one million to two million new students per month.

This new funding money will also go towards globalizing the company's service beyond India with an international English service specifically aimed for children aged from three to eight, a new category for Byju that is set to launch next year.

In addition to this, expansion of Byju will also be led by the release of the new services at the initiation of local academic years. This may vary on a global basis. The main objective here is to make an appeal directly to the younger audience i.e. the kids.

To stay updated with the latest news about Byju and other innovative startups from the mobile app industry, just click on that ‘Subscribe’ button to stay notified with MobileAppDaily.

Tanya <span>Editor In Chief</span>
Written By
Tanya Editor In Chief

She is a content marketer and has more than five years of experience in IoT, blockchain, Web, and mobile development. In all these years, she closely followed the app development, and now she writes about the existing and the upcoming mobile app technologies. Her essence is more like a ballet dancer.

Want To Hire The Best Service Provider?
MobileAppDaily will help you explore the best service providers depending on your vision, budget, project requirements and industry. Get in touch and create a list of best-suited companies for your needs.
News

For The First Time Ever, YouTube Is The Top Grossing iPhone App

4 min read  

It’s been a few years that YouTube is struggling hard to grab the very first position on the top grossing app list. However, the company’s efforts seemed to be yielding results for it. YouTube has become the top grossing iPhone application in the US for the first time ever. The company h

News

Google Chrome Now Supports Oculus Rift For Web-Based VR On Desktops

4 min read  

Google Chrome now supports the VR content on websites for Oculus Rifts headset. The update comes in the Chrome 66 version that Google pushed a couple of days back. However, the change was hidden beneath the codes until one Reddit user spotted it and shared over the internet. Now, the Chrome browser

News

WhatsApp Added Picture-in-Picture Feature Along With Text Only Status Update To The App

4 min read  

The most popular instant messaging platform, WhatsApp just enrolled the Picture-in Picture feature along with the text only status update option for the users.The company was testing the feature in its iOS and Android app for quite some time, now started pushing to the stable version of the app.

News

Microsoft Acquires GitHub For $7.5 Billion

4 min read  

The rumour of GitHub acquisition by Microsoft has finally stood true to its colour. In a recent statement, Microsoft has confirmed the buy-out of GitHub at a staggering cost of $7.5 Billion. Now, GitHub will be headed by Nat Friedman, former Xamarin CEO and Chris Wanstrath, the former CEO of GitHub

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.