Byju's startup founder Byju Raveendran just became a billionaire!
Start-up Byju's, the learning app, has just made its founder Byju Raveendran into a billionaire! This has happened after the latest round of funding when Qatar Investment Authority (QIA) ploughed in $150 million into the venture, making its valuation hit the $6-billion mark in terms of valuation.
Start-up Byju's, the learning app, has just made its founder Byju Raveendran into a billionaire! This has happened after the latest round of funding when Qatar Investment Authority (QIA) ploughed in $150 million into the venture, making its valuation hit the $6-billion mark in terms of valuation. The education technology start-up has made Byju the newest dollar billionaire in the country. Raveendran holds more than 21% stake in the Bengaluru-based online learning platform making him enter the royal club of billionaires.
With increased brand awareness and strong adoption among students, Byju's tripled its revenue to Rs 1,430 crore in the financial year 2018-19 and also turned profitable on a full-year basis. The fresh round of funding in Byju's also included first-ever investment from Owl Ventures in an Indian start-up. Byju's has already crossed Rs 200 crore in monthly revenue and is estimating revenue of Rs 3,000 crore this year.
The educational tech brand has transformed its offline business to an online learning experience and has also acquired Osmo, a Palo Alto-based education game making company recently. The ed-tech firm offers learning programmes for students from classes 1 to 12 in India. Byju has been aggressive on the marketing, advertising and communications front with Super Star Shahrukh Khan as their brand ambassador.
Surprisingly, in one of its biggest win, from September onwards, Team India will wear Byju's on their jerseys. Chinese mobile-maker Oppo will be replaced by Byju's. It will be in the South Africa tour of India starting from September 15 onward that the players will sport Byju's branding on jerseys.
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