Byju’s, India’s largest ed tech recently valued at more than $13 billion, will embark on an international expansion and could IPO within the next two years.
The online tutoring start-up, which this year acquired brick-and-mortar tutoring chain Aakash for nearly $1 billion, plans to launch in the US, UK, Brazil, Indonesia and Mexico next month and other countries later in the year.
The company reportedly told employees about the overseas push in an email, according to Tech Crunch, whose report notes that it has seen the memo.
Byju’s international arm will be called Byju’s Future School and will be led by Karan Bajaj, founder of coding platform WhiteHat Jr, which Byju’s bought last year for $300 million.
Byju’s Future School will have offerings in a range of subjects including music, English, fine arts, and science, as well as coding and maths.
“Byju’s Future School helps cross the bridge from passive to active learning by offering an interactive learning platform that blends real-time instruction with lessons that generate creative outcomes for kids aged between 6-18 years,” the email reads. “Powered by 11,000 qualified women teachers based in India engaging with students from English-speaking countries, Byju’s Future School is further targeting to penetrate deeper into non-English speaking markets such as Mexico and Brazil. The coding curriculum will also be available in Spanish and Portuguese, besides onboarding qualified women teachers who engage with students in these two countries.”
Meanwhile, Byju’s founder Byju Raveendran in a recent interview spoke of his company’s plans to potentially IPO.
“For Byju’s, going public is a clear option, considering the growth that the company has been able to show, both through operations and inorganic acquisitions,” he said.
“We are seriously thinking of an 18-24-month timeline to look at a public offering.”
Date published: 8 April 2021