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Byju’s Raises $800 Mn at $22 Bn Valuation

Byjuu2019s has raised $800 million in a new round in which the companyu2019s CEO and founder Byju Raveendran invested $400 million. The round also participated by investors Sumeru Ventures, Vitruvian Partners and BlackRock.

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Byju’s Raises $800 Mn at $22 Bn Valuation

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  1. Byju’sRaises$800Mnat $22BnValuation EdtechgiantByju'scompanyhasraisedover$800millionthroughanupcominground,whichsawBengaluru-basedCEOandfounderByjuRaveendranmakea$400millioninvestment. TheroundincludedparticipationfromInvestorsSumeruVentures,VitruvianPartnersandBlackRockwithanestimatedvalueof$22billion.Thismakesitthehighest-valuedstartupinIndia. AccordingtomediareportsRaveendran'sstakewithinthecompanyhasincreasedto25percent.PriortothisroundthestakeinByju'sholdingsforpromotersofByju'swasestimatedtobe22.55percentasperFinancialTracker'sestimations.Byju'sisalsoindiscussionstolaunchaninitialroundof$1billion. Alsoread:CityMallRaises$75 Mn inSeriesC Round LedbyNorwest Byju'swasabletoraiseitsmostrecenttrancheforanestimatedvalueat$1.8billion. AccordingtoByju,therearemorethan150millionusersonitsplatform,withanaverageannualrateofrenewalat86percent.Althoughthecompanydidn'treleaseitsmostrecentfinancialfigures,itdidreportan82.31percentgrowthinitsoperatingrevenuesuptoRs2,381croreforFY20.Inthesametime,itslossesincreased30timesto262crore.

  2. ThefirmwasintheprocessofreachingtheprofitabilitymarkinFY19. Inadditiontotheincreaseinfundraising,Byju'shasalsospentapproximately$2.5billiontoacquirehalfadozenstartups.AakashEducationalServiceswasthebiggestacquisitionforthecompanywithacostofabout$1billion.Thecompanyalsopaidabout600millioninexchangeforGreatLearningand$500millionfortheUS-basedEpicwhichisareadingplatform.ThecompanyrecentlypurchasedtherecruitmentplatformSupersetthroughGreatLearning. GetallthelateststartupnewsandupcomingIPOnewsonEntrackr.

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