BYJU\'s Success Story- A Road to Becoming the Billion Dollar Ed-Tech Company PDF

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BYJU- The Learning App's success journey....

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BYJU’S SUCCESS STORY: A ROAD TO BECOMING THE BILLION DOLLOR ED-TECH COMPANY

SUBMITTED BY: HARSHINI | 187413 | BBE 2nd year (3rd semester) GARGI COLLEGE, DELHI UNIVERSITY

SUBMITTED TO: Mr. Sanatan Tiwari

ABSTRACT The purpose of this assignment is to follow the success story of the multi-billion, world’s most valued EdTech company i.e., BYJU’S – The Learning App which is a common name for Think and Learning Private Ltd., a Bangalore based educational technology (EdTech) and online tutoring firm founded in 2011 by Byju Raveendran at Bangalore, India.

INTRODUCTION 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 exam 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 competitive exams. In 2012 Think and Learn entered both Deloitte Technology Fast 500 Asia Pacific ratings and has been present there ever since. In August 2015, after 4 years of developments, the firm launched BYJU’S The Learning App. The app was downloaded by more than 2 million students within the first 3 months since its launch. In December 2016, the app was among “Best Self Improvement” apps at Google Play India rating. In 2017, Think and Learn launched BYJU’S Math app for kids and BYJU’S Parent Connect app to help parents track their child’s learning course. BYJU’S app also became a business case at Harvard Business School. By 2018, it had 15 million users and 900,000 paid users.

PRODUCTS AND SERVICES BYJU’S runs on a premium model. Their main product is a mobile app named BYJUS’S-The Learning App launched in August 2015. It provides educational content mainly to school students from class 1 to 12 (primary to higher secondary level education). The company trains students for examinations in India such as IIT-JEE, NEET, CAT, IAS as well as for international examinations such as GRE and GMAT. The main focus is on mathematics and science, where concepts are explained using 12-20 minute digital animation videos. BYJU’S reports to have 33million users overall, 2.2 million paid subscribers and an annual retention rate of about 85%. The app purports to tailor the content provided to the individual student’s learning pace and style. The average student spends 53 minutes daily using BYJU’S. apart from mathematics and science the introduced Disney BYJY’S app for kids who had just started learning. The company announced that it will launch its app in regional Indian languages in 2019. It also plans to launch an international version of the app for English-speaking students in other countries in 2019.

FUNDING AND FINANCIALS BYJUS’S received seed funding from Aarin Capital in 2013. As of 2019, BYJU’S has secured nearly $785 million in funding from investors, including Sequoia Capital India, Chan Zuckerberg Initiative, Tencent, Sofina and many others. BYJU’S was the first company in Asia to receive an investment from ChanZuckerberg Initiative (co-funded by Facebook founder Mark Zuckerberg and Priscilla Chan). As per the company filings with the Ministry of Corporate Affairs, BYJU’S became a unicorn and is valued at US$5 billion as of March 2019. BYJU’S operates roughly on a premium business model where paid subscription is required for most of the content. In 2017, BYJU’S generated revenues of Rs.260 crore (US$40 million) and doubled it in 2018 financial year, earning Rs.520 crore. BYJU’S has targeted a revenue of Rs.1400 crore for 2019 financial year....