In its first-ever purchase of a United States (US) company, online tutoring startup Byju’s has acquired Osmo, an educational games maker company. Acquisition of Osmo will help Byju’s in offering learning solutions to children in the age bracket of three to eight by tapping into the US company’s physical-to-digital technology and content, Mint has reported.
The company has a target to triple its revenue to Rs 1,400 crore this year. It has aggressive plans for the international market and will make significant investments in technology to further personalise learning for students, the report cited the company as saying.
“Our partnership with Osmo will help kids acquire love for learning at an early age by introducing ‘play-based learning’. Together with Osmo, we have the critical elements needed to build an unprecedented library of engaging and entertaining educational content for a global pre-K-12 student audience,” company’s founder Byju Raveendran was quoted in the report as saying.
According to the report, last month Byju’s raised $540 million at a valuation of $3.6 billion, turning Byju Raveendran into a billionaire overnight. This funding round has put Byju’s fourth on India’s list of most valuable startups. Paytm, Ola and OYO stand on the first, second and third positions respectively.
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