Insta
Byju Raveendran, Founder of Byju’s (Hemant Mishra/Mint via Getty Images)
Led by Byju Raveendran, Bengaluru-based ed-tech startup Byju's is set to acquire private Aakash Educational Services, which owns and operates more than 200 physical tutoring centres across the country, for $1 billion, reports Tech Crunch.
The deal would translate into doubling of the Aakash Educational Services' valuation since late 2019 when Blackstone had acquired a 37.5 per cent of the company's shares at a valuation of about $500 million.
Meanwhile, Byju's, which is valued at $11 billion, is touted as the world's most valuable ed-tech startup. In the last two years alone, the startup has raised $800 million. Also, the company turned profitable in 2019 itself and presently serves over 70 million students as of late 2020.
Before the Aakash Education Services' acquisition, Byju's had last year also acquired coding platform WhiteHat Jr in a $300 million deal.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest