BYJU’s, a Bengaluru-based edtech platform’s number of paying students between the ages 9-17, has crossed over 1.5 million in March 2019 from the 1 million mark in the last financial year, the figures are based on a Mary Meeker’s report.
While, the edtech unicorn BYJU’S has claimed to have tripled its revenue to ₹1,430 crore in FY18-19, to turn profitable on a full year basis.
Founded in 2008 by Divya Gokulnath and Byju Raveendran, BYJU’S offers a learning app. The app was launched in 2015 and has learning programmes for students in classes IV-XII along with courses to help students prepare for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT.
Among the broad categories that online education platforms operate, Mary Meeker’s report has featured the Indian edtech unicorn BYJU’S for its virtual video-based classrooms.
The online education platform believes that the growth in revenue was fuelled by deeper penetration across India and significant growth in the number of paid subscribers.
Company claims to have over 35 million registered users, with 60 per cent of its students hailing from outside of the top 10 cities.
Furthermore, according to Mary Meeker’s Internet Trends 2019 report, online education space has been attracting huge traction and growth over the past few years.
The report noted the growing cost of undergraduate tuition and increasing student loan debt as one of the reasons for the rise of online education sector.