Byju’s learning app – currently India’s most significant online education technology is at $5.7 billion and is one of the giants in business world after Patym, Ola and Oyo. It was started in 2011 by the Byju Raveendran who is a trained engineer and started by coaching students. After 4 year development of company Think and Learn Pvt. Ltd. launched Byju’s learning app in 2015. Since then the company has never looked back starting from 2 million subscribers in the first 3 months to 35 million registered users and 2.4 million paid subscribers today. The company uses a freemium model of business strategy where everyone can subscribe and use the product for free but have to pay money for extra utilizing features of the product. Byju’s learning is also among the case studies in Harvard Universities.
One of the major positive points of Byju’s is their constant advancement in their services with personalized features attracting more and more students daily. Byju’s on Thursday says that it has almost tripled its revenue to Rs. 1,341 crore till March 31st end of the financial year up from Rs. 490 crore in FY18. The growth in revenue was fuelled by the deep infiltration across India and substantial increase in number of paid subscribers. The major augmentation of Byju’s is spending in the advertising and marketing departments which has increased up to 150% to Rs.450 crore and employee expenses which went up to 157% to Rs.273 crore. Byju’s has sponsored the Indian cricket team jersey in September 2019 to March 2020.
Byju’s turns very much profitable to the revenue by jumping to 174% on a standalone basis which has boosted the Indian economy to a great level. Byju’s is referred to as the education technology unicorn which turned in a profit of a little over Rs. 20 crore as compared to the loss of Rs. 28.7 crore in the previous fiscal year. This year the company has expanded its business to early learners from kindergarten to Class 3 in association with US- based media and entertainment mammoth Walt Disney . This tie-up is looking forward to expand its business to other English speaking countries like US, UK and Australia.