[YS Exclusive] BYJU's in talks with several US edtech firms as it eyes acquisitions, tie-ups to ramp up global expansion
BYJU's, the world’s highest valued edtech company, is in talks with several U.S. edtech firms for a potential U.S. acquisition, as it looks to launch into new markets and acquire products that have a global offering in a bid to bolster its international expansion plans, the company told YourStory.
The edtech company, which raised $540 million in its latest fundraising round, is looking to use a part of that money to finalise a U.S. deal within the next six months, the company told YourStory.
BYJU's, which acquired learning platform Math Adventures in 2018, says it is now eyeing acquisitions that will allow the edtech firm to launch into new markets. It is also mulling potential tie-ups or takeovers of content distribution companies.
In 2017, BYJU's acquired Bengaluru-based edtech startup Vidyartha, which offers customised learning for school students. It also acquired TutorVista and Edurite from global learning behemoth Pearson. A U.S. acquisition for BYJU's would be its fourth so far.
BYJU's app – which creates personalised learning programmes for students based on their proficiency levels to help them learn at their own pace – will be made available in the US, the UK, New Zealand, and Australia by the July-September quarter, during which it will introduce its video-based learning content for five-to-eight-year-olds in these markets, the company says.
BYJU's, run by Think and Learn Pvt Ltd, was launched in 2009 as an online video-based learning for CAT through VSAT. The edtech firm says it now has a reach of 2 million paid subscribers in India and over 30 million general users.
In December, the company raised $540 million from Naspers Ventures, Canada’s CPP Investment Board, General Atlantic and some existing investors, taking its valuation to at least $3.6 billion and making it the world’s most valued edtech company.
BYJU's also has the backing of prominent investors, including Tencent, Chan-Zuckerberg Initiative, Sequoia Capital, Lightspeed Venture Partners, Aarin Capital and others. In June 2018, the company said it turned profitable after crossing Rs 100 crore in monthly revenues.