Byju’s revenue went up 81% in FY20, profit surged 152%
Byju’s, the world’s most valuable edtech company with a valuation of $16.5 billion, reported its revenues for 201920 at ~2,434 crore, an 81 per cent jump over the previous financial year.
The company reported a net profit of ~51 crore in 201920. This is a 152 per cent increase from the previous financial year. The company’s expenses for the financial year were reported at ~Rs 2,383 crore.the shareholding pattern held by various individuals is 82.51 per cent. Byju’s founder and Chief Executive Officer Byju Raveendran holds 50.34 per cent. Riju Ravindran holds 20.15 per cent. Byju Raveendran’s wife, Divya Gokulnath, holds 10.64 per cent.
Riju Ravindran has a remuneration of about ~1.65 crore a year, according to the documents. Gokulnath got about ~1.95 crore per annum. The remuneration of Deeptha AR, the human resources head at Byju’s, is ~1.54.crore and the percentage of the equity share held by her is 8.37 per cent.
Byju’s’ earnings in foreign currencies were ~306 crore in FY20 against ~168 crore in FY19.
Byju’s is on an acquisition spree in India and globally as the pandemic has accelerated the adoption of online education. Students and professionals are looking to upgrade their skills, while schools and offices remain shut. The startup acquired six companies in India and the US this year and spent more than $2 billion in the past six months on these acquisitions, according to sources.
The inorganic route is expected to help Bengalurubased Byju’s to dominate the edtech market. It is helping the firm increase its lead over its competitors such as Unacademy, Simplilearn, Upgrad, Amazon Academy, and traditional education institutes, to tap the country’s $180-billion education sector.
Some of these deals include the $1 billion buy of New Delhi-based Aakash Educational Services (AESL) in April and the $600 million acquisition of Singaporeheadquartered Great Learning, a leading global player in professional and higher education.
Last month, Byju’s acquired Us-based digital reading platform Epic for $500 million. In August last year, Byju’s acquired Mumbaibased coding start-up Whitehat Jr for $300 million. In 2019, Byju’s bought Us-based educational gaming company Osmo for $120 million in a stock-andcash deal. Byju’s is aiming to become one of the largest players in the space in the US, with a target to hit revenues of $1 billion in the next three years.
Recently, the firm introduced a one-of-its-kind “Twoteacher Advantage” for Byju’s Classes, an after-school online tutoring programme.
Byju’s Classes is an online tuition programme to offer a two-teacher model in India.
Byju’s - The Learning App was launched for classes 4-12 in 2015. Today, the app has more than 100 million registered students and 6.5 million annual paid subscriptions.