Tag: BYJU’s

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Business motivation

Indian Edutech BYJU`s acquires Aakash Educational Services, signs a billion-dollar deal!

byjus acquire aksash

Edtech Unicorn BYJU is in the news once again, and this time for signing a deal with Aakash Educational Services for a whopping $1 billion. According to reports, BYJU`s has acquired brick and mortar education player Aakash Educational Services (AES). Although both parties are yet to make an official announcement regarding the deal, it is one of the largest ed-tech acquisitions in that world.

While online learning startups have flourished, offline tutoring centers are affected badly. Bangaluru based BYJU`s has a valuation of $12 billion and has been on a fund-raising spree due to the increased demand for its online lessons because of the global COVID 19 pandemic.

BYJU`s, which is India`s second most valuable startup is backed by the likes of Facebook founder Mark Zuckerberg`s Chan Zuckerberg Initiative, and Tiger Global Management & Bond Capital co-founded by Silicon Valley investor Mary Meeker.

While Blackstone will swap 37.5% equity in Aakash for BYJU`s stake, the deal will witness a complete exit of the Aakash`s founders, the Chaudhry family. According to reports, the Chaudhary family may get a cash payout of $300 million.

Backed by Blackstone Group, Aakash Educational Services runs more than 200 brick & mortar centers of Aakash Institutes. While Aakash Educational Services has half-a-million paying students enrolled in its programs, BYJU`s on the other hand has around five million paying students.

When combined, this significant deal would focus on the innovative approach to teach students in secondary education, and prepare them for the entrance examinations.

BYJU`s was founded by Byju Raveendran, who was a former teacher, who also came up with a mobile application for smartphone users in 2011. From kindergarten to the 12th grade, BYJU`s provides lessons in science and mathematics through video games and animations.

Last year in September 2020, BYJU`s announced that around 70 million users logged in from over 1,700 cities all across the country, during fundraising. Out of 70 million, over 4.5 million are paid users. The application has been adding more than 5 million users a month. India`s biggest Edu-tech firm aims to double its revenue to $1 billion in the current financial year ending in March 2021.

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Startup

Hottest Startups of 2020: Paytm, Dream11, Zomato, Ola, Swiggy Among Top 10 Startups of 2020, Says Report

Startup
Startup (Photo Credits: Pixabay)

Mumbai, December 10: As per the Hottest Startups of 2020 Report, Paytm, Dream11, Zomato, Ola, Swiggy, Big Basket, Oyo, Byjus, Snapdeal, and Unacademy are the top 10 hottest startups of 2020. It needs to be mentioned here that all the ten startups hold the title of unicorns.

Paytm topped the list in terms of creating the most consistent buzz throughout the year while Dream11 bagged the title for the prominence of its brand.

The Hottest Startups of 2020 Report by Wizikey, celebrates the top 100 most influential startups in India emerging sectors like Fintech, E-commerce, SaaS, Logistics & Edtech, that have successfully redefined the ecosystem in 2020.

2020 also emerged as the year of Fintech due to the strong wave of cashless transactions like UPI and wallet payments that were witnessed in both metro and non-metro cities.

Some of the new players that have found a place in the list of hottest startups are- CRED and Khatabook. Big Basket found itself leading the sectoral list but ranking overall at number 6, way above Grofers which is ranked at 15.

 

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Startup

BYJU’s, Medlife, Big Basket And More; Start-Ups That Bloomed During COVID-19

The pandemic unfavourably affected small, medium, and micro-enterprises across the world. India, known as the third-largest start-up ecosystem of the world, hasn’t been saved from it either. In this crisis time, start-ups are facing an umpteen number of challenges to sustain their business in terms of cash flow, resources, etc.

During this downbeat scenario, a few Indian start-ups are blooming well. These companies are rapidly growing and making a benchmark for other start-ups who are struggling during this time. As per a survey done in February in 2020, many Indian start-ups had made growth as a priority over profitability, but thanks to COVID-19 this strategy had taken a back seat.

But few start-ups in some sectors have bloomed well during this period. Here are the top three sectors which flourished during this pandemic time.

Growth of E-learning Platforms

We all know e-learning platforms were flourishing before the COVID -19 hit us, but after the first phase of lockdown in March 2020 it gained 3 times surge. Platforms like BYJU’s, Whitehat Jr, Unacademy, Toppr, Vedantu have flourished to a great extent. Due to schools, college shuts digital platforms seem to be the best option for a source of education, therefore, the usage of digital education increased. As per the reports that e-learning firms, which have seen monthly visits increased from 102.2 million to 128.8 million in April.

This is one sector that continues to see great growth in these unprecedented times. As lockdown started, these platforms made a smart move by making free access to students, which lead them to new users at a double rate. BYJU’s saw 7.5 million new users since it started free access to content. Similarly, Unacademy, Toppr, and Vedantu noted similar growth in March itself.

Booming E-pharmacy Startups

In current times E- pharmacy has become the backbone of our country under lockdown to stand against the pandemic. Online delivering pharmacies like Medlife, 1mg, and PharmEasy is making for a significant role in providing contact-less medicine delivery.
As people trying to avoid going out, therefore, more and more people are buying medicines and essential supplements from these platforms. Referring to the high demand for online pharmacies, they have store consumer data, which helps in planning various public health policies.

With the aid of the onset of the technological era, consumers buy medicines form E-pharmacies like Medlife, 1mg, and PharmEasy have their app, which sends frequent reminders for medicines too.

Flourishing Grocery Startups

When pandemic limited us in our homes, there were only a few industries that were expected to grow. One of them is grocery delivery companies like Big Basket, Grofers, and now many new players have also come into the picture like Amazon, Flipkart, Snapdeal, Zomato few others have entered the grocery delivery space. As more consumers are trusting buying essential items online rather than stepping out of the home, which made the doubled the demand of the consumer.

Grocery delivering apps Big Basket and Grofers have admitted that they have already duplicated the number of daily deliveries compared to before the pandemic hit us. Due to the high requirement for online grocery startups are ramping up with brands and manufacturing partners to meet consumer demands. The high demand for supplies made a high demand for a workforce which leads to new job openings.

It’s true that the future is a little foggy for many but, few startups are shining even in the cloudiest of weather. Once the storm of COVID-19 storm passes these startups, will be standing tall on the grounds. These are the top three sectors that are surviving during this time, and our government of India has been developing new strategies and action plans for startups.

It’s true that the future is a little foggy for many but, few startups are shining even in the cloudiest of weather. Once the storm of COVID-19 storm passes these startups, will be standing tall on the grounds. These are the top three sectors that are surviving during this time, and our government of India has been developing new strategies and action plans for startups.