The company, Think and Learn Private Ltd, founded by him on 2011, secured funding of $150 million in the month of June from Qatar Investment Authority(QIA)- an investment company based in Qatar, increasing his company's valuation to $5.7 billion dollars. The founder owns more than 21 percent of the company, thus paving his way into the billionaires club.
Byju Raveendran, founder of the learning app- BYJU's is the new Indian to hit the billionaire mark.
The company, Think and Learn Private Ltd, founded by him on 2011, secured funding of $150 million in the month of June from Qatar Investment Authority(QIA)- an investment company based in Qatar, increasing his company's valuation to $5.7 billion dollars. The founder owns more than 21 percent of the company, thus paving his way into the billionaires club.
Byju Ravendraan gave the Common Aptitude Test exam(CAT) twice and cracked the exam by scoring 100%. This gave him the inspiration to start coaching students for entrance exams to top Engineering and management colleges in large auditoriums, stadiums, and through satellite communications which yielded great results for the boy from Azhikode village in Kannur district of Kerala.
When asked what inspired him to come up with the idea for his app, he said, “I started teaching as a hobby during weekends, transitioning from a coffee shop session to an auditorium session to a stadium session, it was all super-fast. I never thought something that I started as a way of helping my friends to crack CAT would scale up to this level and the impact that it created led me to turning my tutoring into a full-time business. These sessions were extremely important to understand what the students were looking for. The focus has been on spoon-feeding and rote memorisation, rather than encouraging children to learn on their own. The challenge, therefore, has always been around changing the perception about how children should learn.”
In 2015 he launched the Byju's learning app which became India's largest education technology app in 4 years.
Think and Learn Private Ltd, the Bangalore based education technology and online tutoring firm known by its common brand name- BYJU'S, will collaborate with Walt Disney Co. to extend it's operations in America.
The new app known as Disney Staples will have popular Disney characters teach math and English to children studying in grade 1 to grade 12.
BYJU'S has capitalised on cheap smartphones and wireless internet plans to capture the vast chunk of the online learning market.
The BYJU'S app provides education in various subjects to students from class 1 to class 12.
It also provides training to students in examinations like IIT-JEE, NEET, CAT, etc.
Shahrukh Khan is the company's brand ambassador and in June 2019 it became the official sponsor of Indian Men's cricket team.
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