Digital learning is fast being acquired by many educational institutions as a preferred way of learning and teaching. The definition of learning is being transformed with ed-tech startups playing the field professionally. Technology and learning is combined by these startups to create successful e-learning ventures.
One such startup is the very successful Byju’s. One of the largest funded startups in India, Byju’s provides applications for unique learning journeys. The advanced and updated Parent connect app of the venture provides the students real time updates on each individual student’s progress. It provides a fun and interactive platform for learning with recommendations, guided paths and actionable feedback. The company started small and now has an outstanding growth chart.
Let’s go through their story while highlighting 5 lessons to learn from Byju’s remarkable growth.
The education technology firm was opened with the tagline – “Fall in love with learning”. The company was founded by Raveendran Byju as a test preparation business in 2007. He helped CAT aspirants crack the tough exams by making them understand the concepts behind the questions. The company rose higher to become a successful venture in the Indian Education Technology space. Byju’s mainly teaches students of classes 6-12 maths and science concepts while also providing them with test preparation material for entrance exams.
Raveendran Byju started the venture “Byju’s” with his wife Divya Gokulnath. Divya is the director and co-founder of the company and a huge support for the venture. The couple has fun working together as a team and claim to be a professional fit. A couple usually becomes an inspiration for each other which is what likely happened with Byju and Divya. Interestingly, Divya took classes from Byju’s itself and got admission at Stanford University. The couple now works together to achieve greater success.
Raveendran believes in making learning the focus of education. Since the commencement of his venture, Byju believed in keeping this same attitude throughout the journey and has been achieving better success thereafter. Byju’s converted their startup into a profitable business with huge growth potential.
Byju’s claimed the top spot in the online education space while moving steadily. The company recently announced that it crossed its monthly revenue of $14 million in May 2018 while revising its revenue targets to $203 million this year. The company is looking forward to expand globally by launching an international version of its app. Byju is now targeting school students in countries like the US, UK, South Africa and Australia.
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Byju’s is known as the largest funded startup in India. A team of goal oriented individuals came together to form the most successful ed-tech company. BYJU’S has raised over $200 Million investment till date. The investors include the Chan-Zuckerberg initiative, Sofina, IFC, Sequoia Capital, Aarin Capital, Lightspeed Ventures, Tencent and Times Internet. The company also acquired education startupslike Vidyartha including Edurite and TutorVista from the British publishing firm Pearson. Byju’s recently acquired Bengaluru based Maths learning startup – Math adventures.
Byju’s success story is an inspiration for upcoming ed-tech startups and gives them the confidence to stay focused and do better.