Financial Insights

Byju’s raises $800 million at a valuation of $22 billion

India’s leading Edtech firm, Byju’s, has managed to raise $800 million (around Rs 6,000 crores) at a valuation of $22 billion, $4 billion over its previous valuation. This round of funding was led by its founder Mr. Byju Raveendran.

Mr. Raveendran made a personal investment of $400 million into the company, raising his stake to 25% in the company. Several large firms like Sumeru Ventures, Vitruvian partners and BlackRock also participated in this round.

In late 2017, the company was worth around $1 billion. Fast forward 4 years, and the company surpassed PayTm to become India’s most valuable unicorn at a valuation of $16.5 billion. Another year later, the company managed to touch $22 billion in valuation.

The company plans to hit $3 billion by the end of calendar year 2023, it is currently making $1.5 billion annually. The company has raised nearly $4.5 billion in the 10 years it has been in existence and has 115 million registered students & 7.5 million annual paid subscriptions. The company plans to file its IPO papers in the next 9-12 months, which could propel its value to around $40 billion, or so people say.

Highlight by Aman Agarwal.

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