In FY20, the company posted a revenue of Rs 2,800 crore ($370 million), a 100 per cent growth over the previous fiscal.
The deal is the biggest in the Indian edtech sector by far
Byju's has bought the company for $300 million according to DC Advisory (DC), which acted as the exclusive financial advisor to WhiteHat Jr on its sale to the Bengaluru-based education technology firm
Edtech firm launches online tutoring platform targeting afterschool students
Lockdown saw huge rise in the number of page views, new users
In response to schools being shut down due to Covid-19, Byju's made content on its learning app free for all students
GlobalData said Chinese investors have been making their presence felt in a big way in the Indian start-up ecosystem over the last few years.
They are betting on blended learning being the new normal in the post-Covid world, thanks to a more receptive and savvier customer emerging from the crisis
The sector has seen eight investments alone in April from VCs and angel investors
Between January and April 2020, Chinese companies and US hedge funds raised their stakes in Byju's, Paytm and many other billion-dollar Indian technology companies
Closing of educational institutions during lockdown offers promise of huge gains
The poster boy of ed-tech Byju Raveendran has a lot resting on his capable shoulders
Online learning giant Coursera said it was going to provide every impacted university in the world free access to its course catalogue through 'Coursera for Campus' beginning Thursday until July 31
Raveendran launched Byju's learning app in 2015, calls himself a teacher by choice and an entrepreneur by chance. Gupta's Zomato has been a pioneering food technology start-up.
GA is an existing investor in the Bengaluru-based firm
EdTech firm valued at around $8 billion after Tiger Global's $200-million investment
Deeper penetration across India and significant growth in the number of paid subscribers have been the primary drivers of growth
Mohandas Pai expects food delivery platforms Swiggy and Zomato, as well as PhonePe and Myntra to list in local markets in next few years
BCCI will continue to receive the same amount from Byju's and will be at no loss for the entire duration of the deal
BYJU'S will now be seen on the Indian team jersey from September when the home series against South Africa begins, while India will continue to don the Oppo jersey for its tour of West Indies