Byju Raveendran, founder of Byju’s, states that edtech major will be a brand of Rs 30,000 by 2023. Byju’s is one of India’s largest unicorns and is worth $ 16.5 billion.
In an interview with Business Today, Raveendran said Byju’s “expected revenue of $ 5-6 billion” over the next three to four years will make the education engineering major a 30,000 rupee brand by 2023-24. I said it should be.
Read again: Byju is aiming for an IPO in the next 15-18 months
To elaborate on the same, Raveendran further states: “The retention rate of existing customers is as high as 80%, so profitability increases year by year. Therefore, in a stable state, there is a margin of 35-40%. 25-30% for the core model and 25 for Aakash. ~ 30%, so a mixed margin of 30% is easy to achieve, so if you have a $ 5 billion revenue line, you’ll get a profit of $ 1.5 billion, to say the least. “
Raveendran also added that Byju’s IPO is “very important”, but it will not happen in 2021.
The most valuable edtech startups in the country are Chan-Zuckerberg Initiative, Naspers, CPPIB, General Atlantic, Tencent, Sequoia Capital, Sofina, Verlinvest, IFC, Aarin Capital, TimesInternet, Lightspeed Venture, Tiger Global, Owl Ventures, Qatar Investment, etc. Supported by investors. Authority.
Read again: Byju’s Eyes This Year’s Rs10,000cr Revenue
The field of education and engineering has achieved strong growth worldwide, including India, and the COVID-19 pandemic is functioning as an inflection point. Many offline classes have gone online to ensure the continuity of education while adhering to the norms of social distance. Many players have raised new funding from investors with the integration.
Byju’s acquires Aakash Educational Services for about $ 1 billion, Singapore-based Great Learning for $ 600 million, and US-based digital reading platform Epic for $ 500 million. Did. crawl).
Read again: Byju is in talks to raise up to $ 1.5 billion. Valued at $ 21 billion
Byju will be a Rs 30,000 brand by 2023, says Byju Raveendran
Source link Byju will be a Rs 30,000 brand by 2023, says Byju Raveendran