- Byju’s IPO Update
- Country’s largest ed-tech company Byju’s set to launch IPO
- Byju’s IPO to hit the market before April 2023
- The company acquired Akash for one billion dollars
The country’s largest ed-tech company Byju’s is set to launch an IPO. Company founder Ravindran Byju said that Byju’s IPO will hit the market before April 2023. This means that the company is set to launch an IPO within the next two years.
The EdTech startup company on Monday announced the purchase of 33-year-old Akash Educational Services Limited for a billion dollars. This is the largest acquisition of the company till date. With this, the company has strengthened its position in the test preparation segment.
Raveendran said in an interview with Mint that the company is considering a public offering for its growth. He said, ‘We are seriously considering public offering in the next 18 to 24 months. But it may take some more time because we are in no hurry and we will wait for the right opportunity, ” he said.
Whose investment is it?
Asked whether Byju’s plans to buy more companies now, Raveendran said that the possibility of acquiring some companies for international expansion is being explored. But for this a strategic decision has to be made. It is important for us to see whether we can better our customer base through acquisitions.
Byju’s investments in the country’s most valuable EdTech startups include stalwarts such as Mary Meeker, Yuri Milner, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital and Tiger Global. The company has raised more than $ 2 billion in funds so far. Byju’s was launched in 2015 and has more than 80 million students on its platform. Byju’s added 4.5 crore new students to its platform during April-September 2020.