Startups

Byju’s on an edtech startup shopping spree with Great Learning and Toppr acquisitions. But why?

Read more at www.timesnownews.com

Key Highlights

  • Byju’s acquired Great Learning for $600 millionn and bought Toppr for $150 million
  • Byju’s is set to dominate the edtech space with its swift and strategic acquisitions
  • New acquisitions will boost Byju’s global and nationwide expansion

Byju’s – India’s most valuable startup had recently ramped up its shopping spree and acquired the higher education company Great Learning along with after-school learning app Toppr. The deal size for Great Learning was reportedly worth $600 million while Toppr was acquired for $150 million. However, what’s even more interesting is that Byju’s bought both the startups in less than a week after the company had bought a US-based children’s online reading platform, Epic for $500 million.

Wondering why Byju’s is aggressively acquiring edtech startups? Byju’s founder and CEO Byju Raveendran summed up the reasoning for his company’s acquisition spree by saying, “We are seizing an opportunity to create a very large edtech company for the world.” With the demand for online education during the Covid-19 lockdowns growing at a steady pace, it comes as no surprise to see the company boost its own offerings with a capability stimulus from its peers in the edtech space.

In an exclusive interview with ET NOW Great Learning founder Mohan Lakhamraju shared his views on teaming up with Byju’s by saying, “It is great to be joining forces with Byju’s which is now the world’s largest and most impactful edtech company and I think there has been very good alignment with our vision and mission to have transformational learning for as many people as possible.”

In Lakhamraju’s own words, he describes Great Learning’s courses as, “have been created to solve real-world problems through a practical approach, in contrast to traditional learning in universities.”

Founded in 2013, the company has been eyeing a deeper penetration into the Indian market space. By being a part of Byju’s ecosystem, Great Learning will certainly have a more potent ability to strengthen its brand proposition. As for Byju’s, it could possibly create a compelling stature and legacy of being the world’s largest edtech company, capable of serving every learning need in its unique approaches.

Read more at www.timesnownews.com

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