Byju’s is a multi-billion dollar educational technology company with headquarters in Bangalore, India. It was founded in 2011 by Byju Raveendran and Divya Gokulnath. Byju’s claims that it has 115 million students. Although Byju’s products are commoditised, it claims that it aims to democratise education.
Its products are commoditised
In recent months, Byju’s has raised $1 billion in funding, and is on a roll acquiring competitors. It now boasts an umbrella holding company, which offers everything from coding classes to coaching for competitive exams. Byju’s has also become one of the most recognizable brands on Indian television, with ad campaigns featuring Bollywood superstar Shah Rukh Khan. The company’s future is bright and it is likely to continue expanding its product range internationally.
However, this success has not been without controversy. Many disgruntled parents have complained of being misled by sales agents. Others have spoken of pushy managers and an overly aggressive sales culture. These concerns have led to hundreds of complaints against Byju’s.
The rapid growth of Byju has raised concerns among education experts. Its hard sales tactics are said to have contributed to parents’ insecurities and added to their debt burden. Moreover, many of Byju’s courses cost up to $50, which is unaffordable for most Indian families.
Byju’s is also attempting to expand globally. The company recently launched Future School, which will be available in the United States, the UK, and Indonesia. It will offer personalized math and coding education. It will also offer online one-on-one tutoring by more than 11,000 female teachers in India. The company has targeted a 60 percent gross margin and is aiming to make Future School a $500 million line of business.
The company has an innovative learning platform that delivers lessons organized by grade level. Its apps use video, animation, and other features to deliver content. The company has also designed learning programs that focus on exam preparation. Its apps also feature personalized learning and multiple learning formats. This creates a personalized learning profile for each student. This helps students choose the right learning program for them. It is hard to tell if these platforms will be the future of education.
Its hard sales tactics
In recent years, the ed-tech startup BYJU’S has gained massive popularity in India and the USA. Its flagship product, The Learning App, has over 40 million users and 2.8 million paying subscribers. The company’s valuation is approaching $21 billion and it’s on a spending spree, acquiring competitors in the United States and Asia. However, the company’s hard sales tactics have left many parents feeling cheated and insecure. They say they’ve had to deal with a rotten sales culture from the top to the bottom.
While some companies have used hard sales tactics to boost their sales numbers, BYJU’s claims that the company only makes money once customers see value in its products and develop trust in their sales representatives. In addition, the company has set up rigorous checks to prevent misuse of customer information. BYJU’S is backed by major private equity firms and Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative.
Byju’s makes most of its money through sales of hardware. Apart from tablets, it sells SD cards and other offline teaching materials. It also offers exams. However, the company is accused of using hard-sell tactics to lure low-income parents into signing up for the service.
The company recently announced a round of funding worth Rs. 1200 crore, but it has yet to receive the funds. Oxshott, a US-based investment firm, invested the money in September 2021, at Rs 285,072 per share. Other investors in the round include Edelweiss, IIFL, and Verition Multi-Strategy Master Fund.
BYJU’S has gone on an acquisition spree in India and the US. In the last year, the company has acquired nine companies. It has spent over $2 billion on acquisitions. The latest purchase, Aakash Educational Services, was for $950 billion and Great Learning was bought for $600 million.
Despite these allegations, the company has maintained a positive reputation for its training programmes. The BBC has investigated BYJU’s hard sales tactics and revealed a culture of pushy management, aggressive targets and 12-hour workdays. Some staff even claimed that they were marked absent when they missed 120 minutes of ‘talk-time’ with a potential customer.
Its ‘Education for All’ initiative
BYJU’S, an Indian Edtech company, has launched the Education for All initiative to make quality study content available for free online and offline to children from disadvantaged communities. The company has partnered with over 110 NGO’s to make this initiative a reality. The initiative aims to create a more equal society and make education accessible to all. The initiative also offers offline licenses to children who do not have access to the internet.
Since its launch, BYJU’S has reached 3.4 million children through its Education for All CSR initiative. Its revised vision is to empower 10 million children by 2025. The company is also working with 110 NGOs to bring about systemic changes to the education ecosystem.
BYJU’S has worked with Vadham India and Child in Need India to empower the children of tea estate workers. In this collaboration, BYJU’S has supported over 10,000 children in various tea estates across India. The initiative is making a difference in the lives of many children, especially those from disadvantaged communities.
The initiative is an excellent example of how technology can make quality learning more affordable and accessible for disadvantaged children. It works with 110+ NGO partners and has programs in 26 states. Within a year of its launch, it has already made major improvements to education in these areas.
The initiative’s social impact initiative has been spearheaded by Mansi Kumar, a Vice President for Social Initiatives at BYJU’S. She has a vision to “democratise education” by empowering children in rural and underserved communities. Mansi’s initiative, ‘Education for All’, has already partnered with 55 NGOs in 23 states across India.
