Byju’s is on its way to becoming an educational conglomerate. The company bought Aakash Educational Services for $950-million in a cash-and-stock deal.
Teachers being the unsung hero during a pandemic, education space became more prominent during this time and became the catalyst of change. Last year, 4,440 ed-tech platforms raised funding of more than $1.1 billion, which is four times more than what was raised in four years previously.
India has emerged as the third-largest venue for unicorn Startups despite the pandemic. The feat can be attributed to a number of factors, let’s take a closer look
Since Amazon first unveiled its plans a year ago to foray into the Indian EdTech sector, indigenous startups Byju’s, Unacademy, and Vedantu have been strengthening and diversifying themselves.
Byju’s is a learning application helping over 70 million registered students. The Ed-Tech industry got a major uplift due to the pandemic and so does learning app start up BYJU’S. Gokulnath a teacher, cofounded the company with her husband Byju Raveendran.
Indian startups have forwarded the legacy of corporate romance with cricket. It is almost a given that if a startup crosses the billion-dollar threshold and becomes a unicorn, it will be endorsing Indian cricket if it hasn’t already. From the title sponsorship to IPL, Test Matches and ODI series, much of BCCI’s engine is run by such heavily-funded companies that boast dynamic stories of rapid growth.
Overworking and a poor work-life balance are the two major complaints found amongst the Indian corporate employees. However, with the advent of a large number of startups, the figure-oriented organizations are further lowering the standard of Indian corporate work culture drastically.
Byju’s app and how it disrupted India’s education sector is a case study at Harvard Business School but it is not all positive for its users.
BYJU’s, Bengaluru based online tutorial startup replaces OPPO on the Team India jersey. OPPO will pay a fee to BYJU’S for transferring the sponsorship rights. BYJU’S will be the sponsor till 2022.