Byju’s Nears Deal To Acquire Rival Toppr
Previous month Byjus acquired entrance exams education institute Aakash for Rs1billion.
On 15 February 2021, Edtech unicorn startup Byju’s is in advanced talks to acquire smaller Edtechrival Toppr for R150-160 million, two people familiar with the development said, as consolidation continues in India’s booming online learning sector. Both Byju’s and Toppr operate in the K-12 (Kindergarten to Class 12) learning space.
Previous month Byjus acquired entrance exams education institute Aakash for Rs1billion.Byju’s, which raised more than USD1.25 billion in 2020 and is currently valued at USD12 billion, acquired WhiteHat Jr, an online coding school for young children, for USD300 million last August. It can be clearly seen that Byjus want to be the top player in the market when it comes to education. Byjus gained a significantly last year because of lockdown and schools were closed due to corona virus and student took online classes.
Byju’s is an Indian educational technology and online tutoring firm founded in 2011 by ByjuRaveendran. It is a leading market player with highest market share in India's growing EdTech space.
Business momentum for Byju’s has not slowed down even beyond the pandemic. With the Toppr acquisition, Byju’s will strengthen its focus in the K-12 space. Toppr will bring tremendous value to the table for Byju’s. At this stage, Byju’s is eyeing both international expansion and strategic inorganic growth.
India online education will grow in the upcoming years due to penetration of smart phones, internet and growing urbanization.