Byju’s to come close to Paytm’s Valuation!
2 min read
After raising $1 billion last year and being valued at $12 billion Byjus is yet again in the last stage of talks to raise another $600-700 million!
Byjus founded in 2011 has been on a funding spree! The ed-tech startup is growing and extensively acquiring various other companies!
The company acquired US-based Osmo for $120 million in 2019 and WhiteHat Jr. for $300 million which was the biggest acquisition of the company. It also is in process of acquiring Toppr as reported by the Times last month. The company is in talks with Aakash Institute since January which is a 33-year-old coaching institute! It is expected that the new funding will be used in the acquisition of this conglomerate of the coaching industry.
This round of funding will value Byju’s to $15 billion, bringing it close to Paytm which is valued at $16 billion. Pandemic helped Byju’s further to grow with traditional coaching institutes shutting due to lockdown many resorted to online classes and Byju’s have the best interface of teaching online!
Byju’s added 20 million new users 4 months after the COVID 19 lockdown, while the company took 4 years to add 40 million users! India is further expecting a second wave of COVID 19 with increasing cases a day on the day pushing the opening of schools, colleges, and coaching institutes even further. Company in March 2020 reported a revenue of Rs. 2,800 crores and by July the company had achieved the revenue of Rs. 6,000 crores!!
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