Byju Raveendran joined the rarefied club after his Think & Learn Pvt scored $150 million in funding earlier this month.
HIGHLIGHTS
1. Online learning is booming in India due the availability of cheap smartphones and wireless plans
2. India’s online learning market is expected to more than double to 5.7 billion dollar by 2020
3. Byju's CEO said that revenues are expected to more than double to $435 million in the year ending March 2020
What he did ?
A Bengaluru based educational technology and tutoring app Byju's was founded in 2011 by Byju Raveendran.
In about seven years, education app Byju's valuation has grown to an almost six billion dollar. After his Think & Learn Pvt secured a 150 million dollar funding earlier this month, Raveendran joined the rarefied club.
The 37-year-old entrepreneur who has said he wants to do for Indian education what the Mouse House did for entertainment is taking his biggest step yet geographically and creatively.
In his new app, Disney staples from The Lion King’s Simba to Frozen’s Anna teach math and English to students from grades one through three. The same characters star in animated videos, games, stories and interactive quizzes.
His business has grown exponentially since the launch of the app and today the app has more than 35 million subscriber over 2.4 million of which pay an annual fees ranging between Rs 10,000 to Rs 12,000.
This phenomenal growth enabled the company to become profitable by the end of March 2019, Bloomberg reported. This prompted the Raveendran to seek funding from long term investors, which ultimately lead him to secure the latest round of funding from Qatar Investement Authority.
About BYJU'S
BYJU’S - The Learning App is the common brand name for Think and Learn Private Ltd., a Bangalore-based educational technology (edtech) and online tutoring firm founded in 2011 by Byju Ravindran at Bengaluru (India).
In March 2019, it was the world’s most valued edtech company at $5.4 billion (Rs 37,000 crore). Shah Rukh Khan is the brand ambassador for BYJU'S. In July 2019 BYJU'S acquired Indian cricket team jersey rights
BYJU’S app was developed by Think and Learn Pvt Ltd, established by Byju Raveendran in 2011. Raveendran, who was trained as an engineer, started coaching students to pass mathematics exams in 2006.
In 2011 he founded an educational company with the help of his students offering online video-based learning programs for the K-12 segment as well as competition exams. In 2012 Think and Learn entered both Deloitte Technology Fast50 India and Deloitte Technology Fast 500 Asia Pacific ratings and has been present there ever since.
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