In 2008, Byju Raveendran was traveling around the world for his Shipping MNCs job when a few of his friends asked for his guidance for their CAT preparation. While helping them he himself decided to go for the CAT exam. Not only did his friends clear the exam but he himself secured a 100-percentile score. After this, more and more people started asking for his help and after all these requests he decided to quit his well-paying job and he flew down to India and started his coaching classes. These classes eventually developed into the world’s most valued EdTech startup with a staggering 10.5 bn$ evaluation. That was the beginning of the journey of BYJU’s.
Initially, he started to teach in his friend’s terrace, then as his popularity soared, he started taking classes in an auditorium and at one point he even taught in an auditorium. In 2009 he started to publish his lectures online. In 2011 he established ‘Think & Learn Pvt Ltd’ with the tagline “Fall in Love with Learning” and he also began developing an online platform for the K-12 segment as well as for competitive exams. After 4 years of development, the app was launched in 2015.
A Timeline of Events for BYJU’S
2008 – Byju Raveendran started CAT coaching classes
2009 – He started online video-based coaching for CAT
2011 – He registered the company Think & Learn Pvt Ltd focusing on the K-12 segment
2013 – In the month of September, they raised 9 million $ from Aarin Capital in Series A Round
2014 – The company launched a tablet-based learning program for classes 8th to 12th and for various competitive exams
2015 – In the month of July, they raised 25 million $ from Sequoia Capital in Series B Round
2015 – In the month of August, the Byju’s Learning App was introduced which gained 20 lakh students in a timespan of a mere 3 months.
2016 – In the month of March, they raised 75 million $ from Sequoia Capital and Sofina in Series C Round
2016 – In the month of September, they raised 50 million $ from the prestigious Chan Zuckerberg Initiative in Series D Round
2017 – In the month of March, the company became a Harvard Business School Case Study to illustrate its impact on student learning.
2017 – In the month of March, they raised an additional 30 million $ from Verlinvest (A Brussels based family business), in Series F Round and reached an alleged valuation of 600 million $
2017 – In the month of November, the company signed the Superstar Shah Rukh Khan as its brand ambassador.
2018 – The company achieved Unicorn status with a 1 billion $ valuation.
2019 – The company turned profitable on a full-year basis.
2020 – The company raised funding from BOND and achieved the Decacorn status with a valuation of 10.5 billion $
*According to the report of Finshot
The company acquired many Edtech businesses that they thought will bring in more profits or reduce competition. Some of the major acquisitions were
1. In Jan 2017, the company acquired learning guidance platform Vidyartha
2. In July 2017, the company acquired TutorVista (including Edurite) from Pearson.
3. In January 2019, the company acquired a US-based Osmo, a maker of educational games for children aged 3–8 years for $120 million.
4. In August 2020, the company acquired the coding based Indian startup WhiteHat Jr. for $300 million.