So, what is byjus?

BYJU’S is an Indian educational technology company that was founded by Byju Raveendran and Divya Gokulnath in 2011. The headquarter of byjus is in Bangalore, Karnataka, India. As of last year’s data, the valuation of byjus is $22 billion. Also, the company claims that the platform has more than 115 million registered students.

Company Overview

Here is the basic information about Byju’s.

Company Profile

Company History

Byju Raveendran was an engineer before he started the company. At that time, he used to give coaching classes to students who used to learn mathematics. Later, Byju, along with his wife Divya Gokulnath and a bunch of students, started Think and Learn Pvt. Ltd in 2011. Their focus was to spread education to K-12 students and make them ready for any sort of competitive exams.

In 2012, the company entered Deloitte Technology Fast Asia Pacific and Deloitte Technology Fast 50 India. The company is still on the list. After a couple of years, the company was able to launch its mobile application named Byju’s: The Learning App. after two years of that, the company started Byju’s Parent Connect app and Byju’s App for kids as well. The platform had already reached 15 million users in 2018.

At that time, the platform had 900,000 paid customers. 2018 was the year when Byju’s hit the Unicorn mark and became the first edtech unicorn in India. Within one year, Byju’s started to target rural cities and non-metro cities, so 60% of the students are from those areas.

Last year, the company, along with Unacademy, Simplilearn, PrepInsta Prime, upGrad, and Vedantu, joined the IAMAI and made the Edtech Consortium. Last year, Byjus made a partnership with the Qatar Investment Authority to launch a new edtech company. They have already made an R&D center in Doha.

Controversies

Last year, the Ministry of Corporate Affairs sent a letter to Byjus and asked them about the non-filling audit financials for 2021. They also told that Byjus missed the deadline for the last 17 months. Though there were so many issues at that time, Deloitte gave a clean audit. Last year, the company sacked more than 5,000 employees, and they reported unfair treatment.

There were so many criticisms against the company for charging fees. There were so many former salespersons who pushed the service and products and were not capable of affording them. This is why byjus sued Pradeep Poonia and filed a defamation case of 20 crore Indian rupees, but after, it was withdrawn.

Other than this, the company faced another lawsuit for running misleading advertisements. There are also hard sales tactics and so many malpractices. Recently, the Advertising Standards Council of India filed a case against them. The company claims to make a 6-year-old child a coder, which is impossible.

First of all, there were data leaks, and more than 200,000 users’ data was leaked. DCA also worked closely with the company regarding the complaints. There are 115 guidelines that the company broke, this report was reported by the Indian Accounting Standards.

Sports Sponsorships

In 2019, the company won the sponsorship rights and started to sponsor the Indian cricket team jersey. Other than this, the company took the sponsorship of Kerala Blasters FC, this was a team in Indian Super League. Earlier this, the main sponsor was Muthoot Group. Recently Byjus became the official sponsor of the FIFA World Cup Qatar 2022.

Philanthropy

In 2020, there was a program that byjus launched with the name of Education for All, this was basically an initiative so that every kid could get an education. There are also other initiatives. They started giving free content and distributed them. They also launched smart devices as well.

Frequently Asked Questions (FAQs):-

Here are some interesting questions and answers that most people ask about BYJUS.

Final Words

The company is one of the companies that acquired Osmo, an American educational game, for $120 million. Then it acquired one of its rivals for $300 million. It is another start-up named WhiteHat Jr. Then the company started acquiring Scholr, Akash Educational Service Lts., Toppr, GeoGebra, and many other start-ups just to secure its position at the top.

I hope you will find this article interesting. If so, then please share and give your feedback. Thank You.

Read More:

• Everything You Need To Know About Telegram
• Everything You Need To Know About Canva (Detailed Overview)