BYJU’S has announced a new round of funding from Tencent Holdings Limited (Tencent), a leading provider of Internet value added services in China. This latest round of funding will help BYJU’S accelerate product development for new markets and enable inorganic growth through acquisitions.
Launched in 2015, BYJU’S Learning App has pioneered the personalised learning space for school students across the country. With 9 million students learning from the app and over 450,000 annual paid subscribers, BYJU’S has seen more than 100% growth, with revenue growing from Rs. 115 crores (FY 15-16) to Rs. 260 (FY 16-17) crores. The company also turned profitable last quarter.
BYJU’s in numbers.
Launched in 2015, BYJU’s claims to have 9 million users and 4,50,000 annual paid subscriptions. With an average time of 40 minutes being spent by a student on the app every day from 1701+ cities and towns, the BYJU’S app is making learning enjoyable and effective. Annual renewal rates are as high as 90%.