Today ed tech start up is growing a lot in the world and today we will talk about an Indian ed tech startup.
In this blog we will talk about Byju's starting story funding and acquisition, business model and success factor.
Byju Raveendran is the CEO of BYJU'S
Byju's started in 2011 and is currently valued at more than $12 billion and is India's second valuable startup and the world's first ed tech startup. The jersey right of the India team is with Byju's.
Byju's K12 provides video content lectures from class 1st to class 12th students. And also prepares the preparation for the test like jee main, cat, neet, prepares for all the tests in this way.
Byju's founder Byju Raveendran used to work as an engineer in a US Based One Shipping Form. Once there come to India, his friends ask him to help him with CAT preparation and brother Ravinder agrees and helps his friend in CAT preparation and he also gives CAT exam with his friend. And when the result comes, his friend's very good marks have come and Byju Ravindran scores hundred percentile and he starts getting calls for admission from big colleges like IIM.
Then after some time again Byju comes to India and another of his friends tells him for the preparation of CAT and Byju helps him too, this friend of his also has got very good numbers and with his friend he gives the exam of the CAT. And he again brings hundred percent marks and after doing this second time starts meeting him, many people tell him that you also help us in CAT preparation.
Then Byju also starts getting interest in teaching and sees an opportunity for himself, then he quits his job and starts a class with 30 40 students and starts preparing for CAT. And again his students score very well and then this increases the reputation of Byju's even more.
Byju Ravindra starts getting calls from different institutes and used to go to different places in different cities to take live seminars there. After some time, byju feels that it is difficult for him to travel from one city to another, so in 2009 he starts recording his video lectures. Due to this, children from all over India used to come there after preparing for CAT.
After some time, at the behest of his student, he starts a company in 2011, its name was Think and Learn.
The goal in this company was to teach CAT preparation and as well as school students.
From 2011 to 2015, Byju creates high quality video content and engaging content with his team. And they teach all over India, they make videos on different subjects, different chapters and different topics.
So he launch his app byju's in 2015 and that app grow very fast after launch.
Business model
Byju's works on freemium business model. Byju's business model is such that it gives students access to basic content for free and subscribes to its full feature courses.
Byju's claim 90% renewal rate means that 90% of students renew that course after taking these courses. Also, their Dally average time spend is 1 hour, which means that every student spends one hour on the byju's.
And you will see that byju's is a young company, the average age of employees inside byju's is 24 years.
Byju's app has 100 million registered students and 6.5 million paid students.
Any person comes in the touch of Byju's because of these three reasons.
1. Cold calling, Byju's salesmen will call your parents or sometimes call you to ask what is your future plan. Where do you see yourself and what do you want to be.
2. Advertisement, in this either you will see Shahrukh Khan on TV and or you will see any ad of Byju's on Facebook Instagram YouTube and try to know about Byju's.
3. Doubt Solving, nowadays, if a child has any doubts from his studies, then he searches on the Internet. So there is a lot of chances that you will land on Byju's website. And here Byju's provides you 15 days free trial.
Funding and Acquisition
Byju's has raised 1.5 billion in funding in its 15 rounds. Byju's has become the second most valuable company in India after Paytm, with a valuation of 10.5 billion after lifting it on funding in June 2020.
Byju's is first start-up in Asia in which Mark Zuckerberg is invested.
Byju's acquired all these startups
Scholr
Haslearner
Topper
Akash
epic game
Great Learner
Whitehad jr
Gradeup
Tynkor
In April 2021, he bought Akash for Rs 7300 crore.
He bought Singapore best startup The Great Learning for Rs 4500 crore.
If we talk about all the companies, then byju's has bought all of them for more than Rs 15000 crores.
success factor
Byju's content is imaging visual and best quality video content. All these things make their product unique. Also one more thing that gives another USP to their product, here students get time flexibility, in tuition, students could study only for 2 to 3 hours and how much they can study on byjus and here 24 hours access Get .
Byju's had earned a profit of Rs 20 crore in 2020, is Byju's able to maintain its profitability or not because Byju's is spending a lot of money on advertising and marketing. Gradually there are also expanding globally. Byju's is the one fastest growing Ed tech startup in India or in the world.
One thing to learn from this case study is that Baiju Ravindra used to belong from a normal family and he belongs to a village and he is neither an English medium student, yet he became so successful because he Focused on your strength. He built a business with his passion and he thought big.
He could have been happy with his job, he was also happy to run a coaching institute, but he thought big, had a big vision and worked for it, not only to dream big and but he also worked for this dream.
nice
ReplyDeleteYes
DeleteGood
ReplyDelete