According to a recent MobileTech report, more than 89% of users are willing to pay for education apps in India
Mobile apps that provide enhanced learning opportunities for school children have become mainstream. Since mobile phones have already found their way into their hands, these apps are being used to supplement classroom learning. Teachers and parents need to act as anchors and mentors, curating the kind of educational content students are exposed to, during the tricky phase of finding the right career to pursue.
According to a recent MobileTech report, more than 89% of users are willing to pay for education apps in India. Educational Apps have taken the educational market by storm. Realising the growth potential of educational apps, many ed-tech startups have emerged in India.
One of the most valued Edu-Tech Start-up, Byju’s, has been riding high on the growing wave of educational technology in India.
Cashing Onto Stardom Power
Byju’s journey started in 2015, but its reach sky-rocketed after they got Bollywood Superstar, Shahrukh Khan on board as their brand ambassador. The main motive behind this well strategized partnership with Shah Rukh Khan was to increase their reach and create a deeper connection across geographies.
Byju’s cashed onto his wide appeal and adoration amongst parents and children, and his stardom as a catalyst in their success story.
The Bengaluru based Ed-Tech has raised $540 million in a funding round to fuel its expansion plans. This left Byju’s at around $3.6 Billion, making it one of the top-five most valued Internet companies in India and the world’s most valued education technology firm.
Byju’s is also backed by the Facebook chief, Mark Zuckerberg’s foundation, Chan Zuckerberg Initiative.
Byju’s is going to add another feather to its hat by expanding into US and UK. The ed-tech app is aiming to target even younger learners abroad, with new products aimed at three to eight-year-olds in English-speaking countries such as the US, UK, Australia, New Zealand and Canada.
The company has also invested in adapting to different education systems and tweaking the English accents in its apps.
Besides going global, Byju’s is also planning to buy existing ed-tech companies in other countries and is considering going public in two or three years.
It is working on launching its K3 or pre-school product that will cater to students in first to III grades. The company’s acquisition of Math Adventures earlier this year is considered to be a step towards strengthening its pre-school product.