Edtech main Byju’s on Tuesday introduced the acquisition of Gradeup, one among India’s largest on-line examination preparation platforms, for an undisclosed quantity
The partnership will bolster Byju’s presence within the fast-growing on-line aggressive examination preparation class together with harnessing Gradeup’s pedagogy and pupil attain, a press release stated.
Gradeup might be rebranded as Byju’s Exam Prep and can cater to college students getting ready for over 150 exams over 25 classes masking authorities jobs and PG entrance exams equivalent to IAS, GATE, CAT, Bank PO/Clerk, Defence, and UGC-NET. Our focus has at all times been on making certain that each learner has entry to the very best high quality of lecturers and content material to assist them be taught higher. With Gradeup on board, we can additional scale and increase our test-prep choices in postgraduate stage exams,” Byju’s founder and Chief Executive Officer Byju Raveendran said.
He added that Gradeup has already proved its mettle and Byju’s now aims to bring its complementary strengths and expertise together to create engaging and personalised learning experiences. classes, assessments, and quality study material, we have built a highly specialised offering for students preparing for competitive exams. Together with Byju’s, we will accelerate our growth and expand our reach across the country,” Shobhit Bhatnagar, Chief Executive Officer of Gradeup, stated.
He additional stated: “Further, we will leverage their strengths in content to deepen our current product offering and broaden our coverage of exams”. Established in 2015, Gradeup has helped over 25 million college students put together for numerous exams.
The edtech area has seen robust development globally, together with in India, with the COVID-19 pandemic serving as an inflection level. Many offline courses went on-line to make sure continuity of training whereas adhering to social distancing norms. Byju’s, which has over 100 million registered college students and 6.5 million paid subscribers, has been on an acquisition spree.
In April this 12 months, Byju’s acquired Aakash Educational Services Ltd (AESL) for about USD 1 billion to bolster its presence within the check preparation section within the nation. In July, it acquired Singapore-headquartered Great Learning for USD 600 million (about Rs 4,466 crore) and introduced an funding of a further USD 400 million to strengthen its place within the skilled and better training section. Byju’s additionally acquired US-based digital studying platform Epic for USD 500 million (round Rs 3,729.8 crore) and introduced a further USD 1 billion (about Rs 7,459.7 crore) funding within the North American market earlier this 12 months.
Previously, Byju’s had acquired TutorVista and Edurite (from Pearson in 2017), Osmo (2019), and coding coaching platform WhiteHat Jr for USD 300 million final 12 months. Byju’s is estimated to have raised about USD 1.5 billion since April final 12 months in a number of tranches. Byju’s (Think & Learn Pvt Ltd) is backed by marquee traders, together with General Atlantic, Sequoia Capital, the Chan-Zuckerberg Initiative, Naspers, Silver Lake, and Tiger Global.
(PTI)