Byjus latest acquisitions come in the next couple of weeks. Recently, Byjus has acquired US-based ed-tech startup Epic for $500 million.
Online learning platform in India is surging in rapid pace. Corona pandemic was a game-changer for the ed-tech space. As everyone turns to digital learning while schools and colleges remain closed.
Now, Byjus is intensifying its acquisition. The ed-tech giant Byjus had spent $2 Billion in the last six months for acquisitions.
Byjus latest acquisitions are Great Learning and Toppr for the deal around $600 million. The deal was a mix of cash and stocks with the Byjus.
Details of Byjus latest acquisitions
Byjus has joined Toppr and Great Learning online educational platforms. Perhaps Byjus is creating a monopoly in India in the ed-tech space.
From the acquisition, Byjus Raveendran and his family made a dilution of shares of about 25.5%.
Byjus made a deal of about $150 million with Toppr. Toppr is an online learning platform exclusively for K-12 students. There was unprecedented raise in its userbase from 15 to 35 million during the pandemic.
As from the report, Bjyus has given 17,806 Series F shares worth 426 crores. Then the major investors of Toppr were Helion Ventures, Eight Roads(87.2 cr), FH Learn LLP (64.4 cr), Kaizen PE (54 cr), Learn 2 Holdings (34.8 cr), and Ahevia Capital (7.05 cr).
Byjus also acquired Great Learning around 500 million. This platform provides higher degrees education online.
Great Learning got 29,324 Series F shares from ed-tech giant Byjus. The shares are worth 733.1 cr. According to the reports, LMK Holding Ltd and Matrix Benefit Fund had got 682.2 cr and 50.92 cr respectively.
Toppr is an ed-tech startup based out of Mumbai, India. This platform primarily focuses on K-12 students. But now Toppr had expanded its services.
Presently, Toppr focuses on 22 board examinations, 58 Exams, and 17 Subjects. This platform is shaping the futures of more than 2 crore students.
Zishaan Hayath and Hemanth Goteti are the founders of Toppr. They launch the venture in 2013 as a one-stop solution for students.
Besides, it has more than 1.5 million study materials. Students had empowered with the latest technology.
Great Learning facilitates its users to accomplish higher degrees online. This startup is solving the primary problem existing in the higher education sector.
In India, higher education requires lakhs of rupees. But many of them drop pursuing higher degrees because of financial stress and responsibility.
Great Learning provides relevant and industry-requiring skills in its online degree program. There are almost 8000 career transition options and 500+ hiring companies.
Mohan Lakhamaraju and Hari Nair are the founders of Great Learning. The company was set up in 2013 to empower working professionals with the skills. The company started its services from Gurgram and now serving over 160 countries.
This platform made 325 crores revenue in FY20 and also there is a rise in its revenue in 2021 expecting to reach 700 crores.
Reasons behind Byjus latest acquisitions
Byjus is the top online learning platform in India. It also claims that it has 100 million students empowering from its platform.
In recent times Byjus has become the most valuable company in India with a valuation of $16.5 billion.
From this acquisition, Byjus become more stronger and dominant in the ed-tech space in India.
From the acquisition of Great learning, Byjus enables and empowers its users to achieve their higher degrees online. Initially, Byjus was focussing on classes 5 to 12. But now it starts with kinder garden students.
Byjus did not have a special focus and strength in the K-12 segment. But after the acquisition of Toppr, strengthen its platform and also enables its platform for effective preparation.
Byjus is acquiring companies in series. It has become common news for the Locals. It has spent over 2 billion in the last six months for its intense acquisitions. Here are some of the Byjus top acquisitions
Firstly, it spent over $ 1 billion for the acquisition of Akash Education Services. This was one of the costliest acquisitions. Byjus desires to have a physical presence in the country.
So, it acquired Akash which has 215 centers across Indian cities. Besides, it has over 250,000 students on its platform.
Secondly, Byjus made an acquisition Us based Startup Epic for $500 million. This startup has a wide range of digital books and helps students in studying.
It has over 40,000 books with 300 trustworthy publications. Moreover, it has 2 million best teachers on its platform. Earlier it also acquired another US startup Osmo for 120 million.
Thirdly, Byjus aim at teaching coding for the students in the early stages. Because it is most demanding and relevant is future. So, it acquired WhiteHat Jr for $300 million. Karan Bajaj founder of WhiteHat Jr is happy to collaborate with Byjus.
These were some of the Bjyus latest acquisitions till now.
Byjus was founded in 2015 by Byjus Raveendran and Divya Golkanath. Now 100 million students are using their platforms. It is the most valuable company in India worth $16.5 billion.
Some major investors are General Atlantic, Sequoia Capital, Chan-Zuckerberg Initiative, Naspers, Silver Lake, Tiger Global, and others.
Byjus is becoming the most powerful startup in India. It also reported investing over $1 billion in North America in the future. Byjus latest acquisitions justify its status and demand.