Byju’s to acquire Vedantu e-learning platform for $ 600-700 million
This will be the fourth major acquisition for the company led by Byju Raveendran this year.
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According to sources, Vedantu’s deal is currently at an advanced stage and will come to fruition shortly after obtaining the necessary regulatory approvals. Vedantu, however, told IANS that none of these “discussions have taken place with Byju and that we are not considering any such thing.”
Byju’s had yet to officially comment on the major development of India’s growing online edtech space.
Vedantu offers individual and group lessons in the K-12 and test preparation segments. Over 1.5 lakh of students study live on the platform every month and over 40 million users access free content, tests, doubts, videos on Vedantu’s platform every month. and its channels on YouTube.
Byju’s, the world’s largest electronics technology company, with 100 million students enrolled in its flagship learning app, acquired Singapore-headquartered Great Learning for $ 600 million late last month .
The partnership marked Byju’s entry into the vocational and higher education segment with a commitment of $ 1 billion.
Edtech Byju’s company is currently India’s most valuable unicorn startup with a valuation of over $ 17 billion.
Last month, Byju’s acquired Epic, the world’s first digital reading platform for children 12 and under, for $ 500 million.
The big acquisition followed the purchase of the Aakash Institute for nearly $ 1 billion earlier this year.
In August last year, Byju acquired Mumbai-based live online coding provider WhiteHat Jr in an all-cash deal worth $ 300 million (approx. 2,246 crore of Rs).
Live online learning platform Vedantu announced a strategic investment in Pedagogy, an AI-based learning startup that offers online courses and interactive digital books to students preparing for competitions. .