India’s most popular Ed-tech startup Byju’s has finally turned profitable with an impressive revenue of ₹1,430 crore in the financial year 2018-19. Founded in 2008 by Divya Gokulnath and Byju Raveendran, BYJU’S is a Bengaluru based unicorn startup that offers a learning app which has learning programmes for students studying in classes IV-XII along with courses to help students prepare for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT.
As of April 2019, BYJU’s has reported having crossed ₹200 crore in monthly revenue. It is expecting a revenue of over ₹3,000 crore by the end of this year, according to its press statement.
BYJU’S was last reported to be valued at $5 Billion and has raised over $819.8 Million funding from investors such as General Atlantic, Tencent, Naspers, and Canada’s Pension Plan Investment Board (CPPIB) among others.
Talking about the yearly reports, Byju Raveendran, CEO of Byju’s said
“We are witnessing significant growth in the number of students learning from us, and today, more than 60% of our students are from outside the top 10 cities. This high adoption rate is a very clear indication that online learning is fulfilling a crucial need and is here to stay,”
Quote source: Yourstory
Below are some of the key points that will help you understand how much impact Byju’s have been making on Indian education system:
- It has over over 35 Million registered users.
- With 2.4 Million paid subscribers, it has seen nearly a 100% growth compared with 1.26 Million in June 2018.
- 60% of Byju’s users are from outside the top 10 cities.
- The average time period a student spends on the app is 71 minutes.
Looking at these points, Byju’s seems to be unstoppable right now creating new records with every passing day.
