Byju’s creates personalised learning programmes for individual students based on their proficiency levels and capabilities which help them learn at their own pace and style
The partnership is focused on expanding international reach and creating a diverse product portfolio, Byju’s said in a statement.
TutorVista, founded by well-known serial entrepreneur K Ganesh (who later sold it to Pearson), is one of the largest and best-known online tutoring brands catering to school and college students in the US and it gets millions of visitors every month on its website from across the globe, with 70 per cent coming from the US.
Commenting on this acquisition, Byju Raveendran, Founder and CEO of Byju’s, said: “This partnership will enhance our product offerings and give us access in some of the new markets when we launch our international products. With increased brand awareness, our core offering – BYJU’S The Learning App — has witnessed massive adoption amongst students across grades (classes 4-12). Today, with a wider bandwidth, we have started creating similar products for the international markets that further boost our reach as well as product portfolio.”
Launched in 2015, Byju’s is a creator of K-12 learning app which offers adaptive, engaging and effective learning programmes for students in classes 4-12 (K-12) and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT. The app creates personalised learning programmes for individual students based on their proficiency levels and capabilities which help them learn at their own pace and style.
The learning app makes learning contextual and visual, and not just theoretical. It has 8 million users and 400,000 annual paid subscribers. The firm claims that an average time of 40 minutes being spent by a student on the app every day from 1,700-plus cities and towns.
Founded in 1844, Pearson is the world’s learning company, with 40,000 employees in more than 70 countries. From school education, test preparation and higher education to professional qualifications, Pearson’s publications, curriculum materials, multimedia learning tools, assessment programs and integrated services help people of all ages make measurable progress in their lives through learning. It is organised around three key stages of learning — 1) K-12, 2) higher education and test preparation, and 3) vocational and professional education.
In March this year, Byju’s raised nearly US$30 million funding from Verlinvest, a Belgian investment company and investor in Southeast Asian e-commerce company Lazada. Previously, it secured US$50 million, co-led by Chan Zuckerberg Initiative (CZI) — a fund launched by Facebook Founder Mark Zuckerberg and Dr. Priscilla Chan. This funding came less than six months after it secured US$75 million from Sequoia Capital and Sofina.
The post Zuckerberg-backed Indian edtech startup Byju’s acquires TutorVista and Edurite from UK-based Pearson appeared first on e27.
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