Byju’s Indian Ed Tech Unicorn Sucess story

Byju’s Indian Ed Tech Unicorn Sucess story

Byju”s Raveendran, Founder and CEO of BYJU’S:

Edtech-unicorn

Raveendran, Founder and CEO of BYJU’S

The Ed- tech unicorn Byju’s – The Learning App is a startup founded by Raveendran is under the common Brand Name for Think and Learn Private Ltd.  founded  in 2011 by Byju Raveendran at Bangalore (India). Byju Raveendran established the company with his brother Riju Raveendran and wife Divya Gokulnath. In March 2019, it became the world’s most valued edtech company at $5.4 billion (Rs 37,000 crore). In January 2020, the company was valued at $8 billion (Rs 57,000 crore). Shah Rukh Khan is the brand ambassador for BYJU’S.  There is famous saying, 

‘A business cannot be driven by the passion to make money, the passion to change society is far more important’.

History

BYJU’S app was developed by Think and Learn Pvt Ltd, established by Byju Raveendran in 2011. Raveendran, who was trained as an engineer.

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. 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.

Social impact

With a father who is a Communist, and having grown up in a village in Kannur, money is not really important to me. I am more concerned and interested in seeing our app make a strong social impact.

“I didn’t have any drive or passion to start a business, but when I started teaching, I realised that it was my passion and it gave me a lot of satisfaction and enjoyment. When my classes started creating an impact, it became a business proposition.”

‘In the sector that we are in, the real fun is not in creating a billion dollar company but changing the way millions of students learn.’ The most satisfying aspect for me is that we are able to reach out to tens of thousands of students.

I always say I am a teacher by choice and an entrepreneur by chance.

Making money has never been a priority for me, but giving something back to society is. That’s why I take care of the education and healthcare of the underprivileged in my village. I grew up there and I feel it is my duty to help others come up in life.

I am of the opinion that a business cannot be driven by the passion to make money. The passion to change society is far more important.

Funding 

BYJU’S operates roughly on a freemium business model, where some basic content is available for free, but a paid subscription is required to access most part of the content library. In January 2020, the company raised $200 million in a fresh round of funding from New-York based Tiger Global Management. BYJU’S received a valuation of $8 billion. BYJU’S was the first company in Asia to receive an investment from Chan-Zuckerberg Initiative

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