BYJU’s is most valued start-up in India |
India-based online learning firm Byju`s has become the country`s most valuable internet start-up with a valuation of $16.5 billion in its current funding round. Byju`s surpassed fintech firm Paytm which is valued at $16 billion. According to regulatory filings, Byju`s has raised $350 million from UBS, private equity giant Blackstone, Abu Dhabi state fund ADQ, Phoenix Rising and video conference firm Zoom`s founder Eric Yuan. Byju`s raised over $1.5 billion dollars in the last 18 months, with growth for online education turbocharged by the COVID-19 pandemic. Byju`s is expected to use the funds for more acquisitions. Its acquisitions in the last one year include coding firms Whitehat Jr, competitor Toppr, offline test preparation firms Aakash, Great Learning and Gradeup. The latter two deals have not closed yet and have been reported about earlier. Founded by former teacher Byju Raveendran, Byju`s valuation has doubled since January 2020, when it was valued at $8 billion in a Tiger Global-led round. Byju`s has also been one of the few profitable internet unicorns - companies valued at over US$ 1 billion. It is said to have over a billion dollars in revenue for FY22 and is still growing fast. Byju`s provides an array of educational services to students across the spectrum, from toddlers to high school and college entrance exams and beyond.
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