Byju's triples its revenue and doubles paid subscribers

Bengaluru-based edutech unicorn Byju’s said its revenue tripled to Rs 1430 crore in financial year 2018-19. It said the company turned profitable on a full year basis.

“While profitability is an important milestone for us, as a company our main focus continues to be on creating engaging learning experiences that will empower students to learn better. After all, the best part about being in this sector is the long-term positive impact you can make on the society,” said Byju Raveendran, founder, Byju’s.

In April 2019, Byju’s crossed Rs 200 crore in monthly revenue and is estimating a revenue of over Rs 3,000 crore this year. The growth in revenue was fuelled by deeper penetration across India and significant growth in the number of paid subscribers. Currently, the learning programs are available in both English and Hindi. BYJU’S is working on creating learning programs in different regional languages to ensure that students across regions can access quality learning content and teachers.

The company claims to have over 35 million registered users and 2.4 million paid subscribers; nearly doubling from 1.26 million in June 2018.

“We have witnessed significant growth in the number of students learning from us and today, 60% of our students are from outside the top 10 cities. This high adoption rate is a clear indication that online learning is fulfilling a crucial need and is here to stay. We are also working on creating learning programs in multiple regional languages and we believe that this move will truly be a game changer in helping students learn in the comfort of their homes and in a language of their choice,” Raveendran said.

Launched in 2015, Byju’s that uses videos and animation to create course modules offer coaching for students in classes 4-12 (K-12) and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT.

It claims to be present in over 1700 cities in India. Valued at over USD 4 billion, the company counts Sequoia, Tencent, Sofina, Naspers, Times Internet, LSVP, Aarin Capital, IFC, Belgian family fund Verlinvest and Chan-Zuckerberg Initiative as its investors.