India’s top online education startup Byju’s has touched the revenue milestone and has crossed the monthly earning of Rs 100 crores last month. The company now aims to grow more and has set a target revenue of Rs 1400 crores this year.
The Bengaluru-based company claims that it has 20 million registered students and 1.26 million annual paid subscribers on its learning app. The app also has an addition of 1.5 million registered students every month. According to the reports, for the past three years, Byju’s has been growing 100% annually since the launch of its app in 2015.
“Last month we crossed Rs 100 crores in revenue. With a consistent 20% month-on-month growth, we expect to finish this year with Rs 1400 crores in revenue. The launch of the personalized version of our app last year, helped us boost engagement and enhanced the learning experience for our students,” said Byju Raveendran, CEO of Byju’s.
Byju’s has raised $244 million from investors including Tencent, Chan-Zuckerberg Foundation, Sequoia Capital, and LightSpeed Ventures, and others as well. Its revenue in fiscal 2017 was Rs 247 crore with losses of Rs 59 crore.
Earlier the company had a proposed target of Rs 1300 crores for the year but since the profitability of the company has increased, it has revised its annual revenue target to Rs 1,400 crore.
The founder of the app further stated that the launch of the personalized version of Byju’s app last year has helped the company boost up engagement and enhanced the learning experience of the students. Apart from its initiative learning app, directed towards students of classes 6 to 12, the company launched another app last year for students of classes 4 and 5.
Further, the company is also planning to launch an exclusive app for students studying in classes 1-3 by the end of this year. These steps will definitely assist the company in increasing its revenue and profitability and touch the annual revenue milestone as well.