Education Technology and Training expertise platform Byju’s is in talks with SoftBank and different traders to lift $200-250 million to fund its international growth plans. In the recent talks, the deal is yet to be finalised.
Byju’s is in news to lift about $200-250 million from SoftBank and others. They’re nonetheless discussing the factors. This can assist catapult their worldwide growth. If the deal is successful it would possibly value the company at around $2 billion as stated by Byju’s.
“We by no means touch upon hypothesis,” mentioned a SoftBank spokesperson to an electronic mail question from ET, whereas a spokesperson of Byju’s mentioned that they had “no feedback” to supply, mentioned Byju’s.
Byju’s-The Learning App, which is the education technology platform caters to students from classes VI to XII. It has around 20 million registered students and 1.26 million annual paid subscribers at present.
Byju’s is looking forward to increasing the English-speaking markets, along with America, the UK and Australia. The corporate has additionally employed academics throughout geographies for the growth initiative. The schooling expertise platform can be engaged in launching an app for college kids in courses one to 3 (Ok-3) by the end of this yr.
Byju’s is setting up around 30 offices across India by the end of the year. It is also looking to spread deep into the country. The company recently hired nearly 600 employees across product, content, tech and business development roles. Almost half of these new hires are on the sales side to attract more users in smaller cities and towns.
Byju’s is looking to achieve a revenue target of Rs 1,400 crore this financial year. The company has had a strong and steady growth over the past few years. It has been growing 100% annually for the past three years and recently crossed Rs 100 crore in monthly revenue.