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发帖数: 11530 | 1 UBS investment makes Byju's the most valuable startup in India
Manish Singh
Sat, June 12, 2021, 8:03 AM
Edtech giant Byju's has become the most valuable startup in India after
raising about $350 million in a new tranche of investment from UBS Group and
Zoom founder Eric Yuan, Blackstone and others that valued the Bangalore-
based firm at $16.5 billion (post-money).
In a new filing, Byju's revealed that scores of investors including Abu
Dhabi government fund ADQ and Phoenix Rising had together invested about $
350 million in the startup. The new valuation helps Byju's surpass Paytm,
which was last valued at $16 billion, for the crown position in the Indian
startup ecosystem. (Paytm is currently working on exploring the public
markets and eyeing to raise as much as $3 billion and eyeing a valuation of
up to $30 billion.)
The new tranche of investment is part of a larger round that Byju's
kickstarted earlier this year and is looking to secure over $1.5 billion.
Some of its recent investors also include B Capital Group and hedge fund XN.
The startup was valued at $11 billion late last year, and $5.75 billion in
July 2019.
The startup plans to use the fresh capital, in part, to acquire more
startups. Byju's, which acquired Indian physical coaching institute Aakash
for nearly $1 billion earlier this year, is conducting due diligence to buy
and online learning startup Toppr and has also engaged with U.S.-based Epic,
TechCrunch reported earlier this year.
Byju’s prepares students pursuing undergraduate and graduate-level courses,
and in recent years it has also expanded its catalog to serve all school-
going students. Tutors on the Byju’s app tackle complex subjects using real
-life objects such as pizza and cake.
The pandemic, which prompted New Delhi to enforce a months-long nationwide
lockdown and close schools, accelerated its growth, and those of several
other online learning startups including Unacademy and Vedantu.
As of early this year, Byju's said it had amassed over 80 million users, 5.5
million of whom are paying subscribers. Byju’s, which is profitable,
generated revenue of over $100 million in the U.S. last year, Deborah Quazzo
, managing partner of GSV Ventures (which has backed the Indian startup),
said at a session in March held by Indian venture fund Blume Ventures.
The startup executives said at a UBS event earlier this year that Byju’s
current revenue run rate is $800 million, a figure they expect will reach $1
billion in the next 12-15 months. It has also accelerated its international
expansion plans in recent months. | W***n
发帖数: 11530 | 2 seems a bubble in t making | W***n
发帖数: 11530 | |
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