Byju’s, India’s largest and most valued online Education startup is apparently all set to sign a deal with Blackstone backed Aakash Educational Services Ltd for a whopping 1 billion US Dollars. This deal is going to be one of the largest Ed-tech acquisitions in the world.
During the course of the Coronavirus pandemic, it became very strenuous for the physical Coaching Centres to function properly. These offline learning centers have suffered heavily. On the other hand, Online classes have flourished to greater heights. More than 70 million users logged in from over 1,700 cities around India on Byju’s learning platform during the course of the pandemic.
The gross value of Byju’s is around $12 billion and for a very long time, it has been looking forward to the expansion. The demand for online classes reached a peak during the course of the Coronavirus pandemic and Lockdown and hence, gave a further boost to this idea.
According to a recent report, the founders of Aakash will exit completely. But Blackstone will bag 37.5% of its shares in Aakash for Byju’s stake.
All about Byju’s Learning Platform
Byju’s was founded in 2011 by Think and Learn Pvt Ltd, established by Byju Raveendran. It is an Indian Ed-tech firm headquartered in Bengaluru, Karnataka of India. It is one of the growing firms in India’s Educational Technological space with the highest share in the market.
The Byju’s Learning App was launched in August 2015. In 2017, Byju’s Maths App for kids and Byjus’s Parent Connect App was also launched by the firm.
In 2017 itself, Byju’s firm acquired Tutor Vista from Pearson. In 2019, Osmo was also acquired by Think and Learn Pvt Ltd. Osmo was a US-based educational games maker for kids.
Byju’s has also bought WhiteHat Jr. which was an India based Startup.
Byju’s Learning App is an Online Education tutoring app that provides free access to the limited content up to 15 days after registration. Educational content for students from Kindergarten to 12 class is available on the app. The content covers a wide range of academic subjects and concepts. The concepts are explained through 15-20 minutes of animation videos.
The training for National Level Competitive Exams like IIT-JEE, NEET, CAT, IAS, and International Exams like GRE and GMAT is also available to these students through this app.
All about Aakash Educational Services, India
Aakash Institutes are a division of Aakash Educational Services Pvt Ltd.
It was founded on 22 September 1988 by J. C. Chaudhary. The headquarters of the Aakash Institute are located in Dwarka, Delhi.
J. C. Chaudhary is the Managing Director of the Aakash Educational Services whereas Aakash Chaudhary is the Director.
Aakash Educational Services is the Medical and Engineering coaching leaders in India. Almost 2,50,000 students take admission every year in more than 200 physical educational centers across India.
Aakash Educational Services Limited (AESL) provides comprehensive test, preparatory services to students for medical and engineering entrance exams, school/board exams, KVPY, NTSE, Olympiads, and other Foundation level exams.
The main branch of the Institutions is located in Janakpuri, Delhi. Aakash Institute has trained the students to gain entry into India’s elite engineering and medical schools, since it was established.
Blackstone, Global Investment Management Firm
Blackstone has made minor investments in AESL. It is a US-based global alternative asset manager.
This one of the biggest deals of its times may take place in coming two or three months making Byju’s, one of the leading players in the global Ed tech market.
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